1162 Fountain Street

    Riverside, CA 92507
    • $485,000
    • STATUS: Active
    • ON SITE: 27 days
    • ID#: TR18250969
    UPDATED: 41 min ago
    $485,000
    • 0
      BEDS
    • 0.18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,600
      SQFT
    • $187
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1968
    County:

    School Ratings & Info

    Description

    4 units Complex for Sale. Very attractive unit mix with 1 unit +GG 2 Bedroom/1 Bath and 3 units +GG 1 Bedroom/1 Bath. This is an extremely rare investment offers Over 6% CAP Rate. Great cash flow. Amazing upside potential with all units individually metered for electricity and gas. Great additional carport parking in the back of the building. Property does have septic tank system and it was upgraded in 2015. The property is located 3 miles from University California of Riverside (UCR) while also only less than a mile from the Grand Terrace High School. This excellent location is perfectly situated near the 215 & 60 FWY. Nestled off the 215 FWY in between the 10 & 60 FWY, this property is very commuter friendly. Just 3 miles from University California of Riverside, this is a highly desirable student rental area.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-12T19:30:11.323. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/88510278

    1162 Fountain Street Riverside, CA 92507

    • Price: $485,000
    • Status: Active
    • Updated: 41 min ago
    • ID#: TR18250969
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.18
    Acres
    2,600
    SQFT
    $187
    $/SQFT
    1968
    Built
    Neighborhood:
    252 - Riverside
    County:
    Riverside
    Area:
    252 - Riverside
    Property Description
    4 units Complex for Sale. Very attractive unit mix with 1 unit +GG 2 Bedroom/1 Bath and 3 units +GG 1 Bedroom/1 Bath. This is an extremely rare investment offers Over 6% CAP Rate. Great cash flow. Amazing upside potential with all units individually metered for electricity and gas. Great additional carport parking in the back of the building. Property does have septic tank system and it was upgraded in 2015. The property is located 3 miles from University California of Riverside (UCR) while also only less than a mile from the Grand Terrace High School. This excellent location is perfectly situated near the 215 & 60 FWY. Nestled off the 215 FWY in between the 10 & 60 FWY, this property is very commuter friendly. Just 3 miles from University California of Riverside, this is a highly desirable student rental area.
    Exterior Features

    Carport Spaces 4.00 Garage Spaces 0.00 Lot Features Cul-De-Sac Lot Size Source Assessor Lot Size Units Square Feet Parking Features Carport Attached Parking Total 4.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Flooring Tile Heating Wall Heater Heating YN Yes Laundry Features None Levels One

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 5.59 Community Features Curbs Country Us Electric Expense 304.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 37200.00 Gross Multiplier 13.04 Gross Operating Income 36084.00 Gross Scheduled Income 37200.00 Insurance Expense 1034.00 Land Lease YN No Laundry YN No Maintenance Expense 1222.00 Net Operating Income 27083.00 New Construction YN No New Taxes Expense 5456.00 Number Of Separate Electric Meters 5 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Operating Expense 9001.00 Property Sub Type Quadruplex Rent Control YN No Senior Community YN No Sewer Conventional Septic Special Listing Conditions Standard Tenant Pays ElectricityGas Total Expenses 9001.00 Trash Expense 375.00 Utilities Electricity ConnectedNatural Gas ConnectedWater Connected Vacancy Allowance 1116 Vacancy Allowance Rate 3.00 Water Sewer Expense 610.00 Water Source Public Zoning R-2

    Listing provided courtesy of Kevin Lee of Coldwell Banker George Realty and Peggy Hsiao of Coldwell Banker George Realty.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-12T19:30:11.323. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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