2944 6th Street

    Riverside, CA 92507
    • $639,000
    • STATUS: Active
    • ON SITE: 87 days
    • ID#: CV18184912
    UPDATED: 23 min ago
    $639,000
    • 0
      BEDS
    • 0.23
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,600
      SQFT
    • $178
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1915
    County:

    School Ratings & Info

    Description

    A Fantastic Investment Cash Flow property in downtown Riverside! The numbers are incredible, great Income! Centrally located near freeways and Metro Link trans. Close proximity to restaurants, Parks and The Missions Inn Hotel. Lots of newer construction and development in this area. Property great to rent to Faith Based Organizations or Recovery Home Businesses. This 11 unit income property is situated right off University near the 91. The larger unit in rear is allowed by city FOR SINGLE RESIDENT OCCUPANCY(SRO) due to grandfathered clause as a SRO dwelling and has a newer roof less than 5 years old.GREAT MONEY MAKER. This property offers front house, a 2nd structure for storage and a 3rd larger rear unit that houses 9 studio Dorm style bedrooms. Front house 2 bedrooms 1 bath. Currently rented. Studio at rear of main house has kitchen also rented. Coin laundry room with outside access for all tenants. Behind front house are 2 more bldgs. 1st bldg can be used for storage, office or game room. Other bldg has 9 bunk/dorm style bedrooms. All 9 rooms have a closet space. Dorm #9 is much larger at rear with separate entry. These bunk studios share a bathroom and separate shower room with laundry sink. All units are cable/phone ready. Current owner had all bunk units rented at $495 each and vacated them to clean up and paint for sale. Currently owner pays for all utilities except for the main house. New Security Camera system in place. Plenty of parking

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-18T07:30:01.06. 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/86804157

    2944 6th Street Riverside, CA 92507

    • Price: $639,000
    • Status: Active
    • Updated: 23 min ago
    • ID#: CV18184912
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.23
    Acres
    3,600
    SQFT
    $178
    $/SQFT
    1915
    Built
    Neighborhood:
    252 - Riverside
    County:
    Riverside
    Area:
    252 - Riverside
    Property Description
    A Fantastic Investment Cash Flow property in downtown Riverside! The numbers are incredible, great Income! Centrally located near freeways and Metro Link trans. Close proximity to restaurants, Parks and The Missions Inn Hotel. Lots of newer construction and development in this area. Property great to rent to Faith Based Organizations or Recovery Home Businesses. This 11 unit income property is situated right off University near the 91. The larger unit in rear is allowed by city FOR SINGLE RESIDENT OCCUPANCY(SRO) due to grandfathered clause as a SRO dwelling and has a newer roof less than 5 years old.GREAT MONEY MAKER. This property offers front house, a 2nd structure for storage and a 3rd larger rear unit that houses 9 studio Dorm style bedrooms. Front house 2 bedrooms 1 bath. Currently rented. Studio at rear of main house has kitchen also rented. Coin laundry room with outside access for all tenants. Behind front house are 2 more bldgs. 1st bldg can be used for storage, office or game room. Other bldg has 9 bunk/dorm style bedrooms. All 9 rooms have a closet space. Dorm #9 is much larger at rear with separate entry. These bunk studios share a bathroom and separate shower room with laundry sink. All units are cable/phone ready. Current owner had all bunk units rented at $495 each and vacated them to clean up and paint for sale. Currently owner pays for all utilities except for the main house. New Security Camera system in place. Plenty of parking
    Exterior Features

    Garage Spaces 0.00 Lot Features Front YardGardenLawn Lot Size Source Estimated Lot Size Units Square Feet Other Structures StorageTwo On A LotWorkshop Parking Total 0.00 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 Heating Floor FurnaceWall Heater Heating YN Yes Laundry Features CommunityIndividual RoomInside Levels One Room Type Exercise RoomGame RoomOffice

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 9.23 Community Features Urban Country Us Electric Expense 1400.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 73260.00 Gross Multiplier 8.72 Gross Scheduled Income 73260.00 Insurance Expense 5000.00 Land Lease YN No Laundry YN Yes Net Operating Income 59010.00 New Construction YN No New Taxes Expense 6350.00 Number Of Separate Electric Meters 2 Number Of Separate Gas Meters 2 Number Of Separate Water Meters 2 Number Of Units Leased 2 Operating Expense 14250.00 Professional Management Expense 0.00 Property Condition Turnkey Property Sub Type Duplex Rent Control YN No Security Features Closed Circuit Tv Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 1650.00 Total Expenses 14250.00 Trash Expense 400.00 Water Sewer Expense 1100.00 Water Source Public Year Built Source Assessor Zoning R1065

    Listing provided courtesy of Fernando Reza of Keller Williams Covina.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-18T07:30:01.06. 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.
     
    Fred Sed Realty - Keller Williams
    4010 Barranca Pkwy Suite 100
    Irvine CA, 92604