CBRE is proud to exclusively present the Gould Street Apartments located in the City of Riverside!
The Gould Street Apartments are located on the south side of Gould Street between Tyler Street and Crest Avenue. The property ideally situated just 3 miles from La Sierra University, the Galleria at Tyler shopping center and Kaiser Permanente Hospital.
Built in 1974, the Gould Street Apartments contain 8 units on a 30,492 square foot lot. The property features a single story layout with pitched composition roofs. All units at the Gould Street Apartments consists of two bedrooms and one bathroom featuring enclosed patios with washer and dryer hookups. The building size for this property totals 7,200 square feet with an average unit size of 900 square feet.
The Gould Street Apartments generate a monthly rental income of $6,800. There remains upside potential in income with two bedroom one bathroom units in the immediate area generating monthly income of $1,100. Implementing these increases would yield a 55% increase in Net Operating Income.
The Gould Street Apartments are a stable income-producing property and a great long-term investment. It is located in a desirable, non-rent controlled area and offers growth and stability for any type of investor whether it may be a first-time purchaser, seasoned investor or 1031 exchange opportunity.
