1806 Loma Vista St 16 Unit Apartment Building $3,200,000 ($200,000/Unit) Riverside, CA 92507

Marcus & Millichap is pleased to present 1806 Loma Vista Street, a well-maintained 16-unit multifamily investment opportunity located in Riverside, California. The garden-style property sits on a ±18,731 square foot lot and includes ±11,895 rentable square feet, offering investors a stable asset with clear upside potential.
The property comprises (16) one-bedroom/one-bathroom units averaging 740 square feet per unit. It benefits from copper plumbing and has received exterior improvements including fresh exterior paint and newly applied epoxy coating on staircases and upper walkways, enhancing durability and curb appeal. Additional income is generated through on-site laundry facilities and parking, enhancing in-place rental revenue. The asset offers 19 on-site parking spaces, a valuable amenity that supports tenant demand and long-term retention. Current rents reflect a 39.14% rental upside, providing investors with a clear path to increased cash flow through rent growth and operational improvements.
Loma Vista is offered at $200,000 per unit, which is lower than comparable properties averaging $230,571 per unit. The property is also priced at $269.02 per square foot, well below comparable sales averaging $461.98 per square foot, providing a significant value advantage. Located within a strong Riverside rental corridor near major employment centers, transportation routes, and neighborhood amenities, 1806 Loma Vista Street presents an attractive opportunity for investors seeking stable in-place cash flow with meaningful long-term upside.