The properties consist of two lots that are adjacent to each other. This eight unit apartment property is composed of 5 one bedroom / one bathroom units, 2 two bedroom / one bathroom units and 1 two bedroom / one bathroom single family home. The property is located in the historic Downtown Riverside submarket and is only a 10 minute walk away from the beautiful Fairmount Park. The immediate area consists mainly of single family residences with smaller apartment complexes (duplex or fourplex). Many of the residences in this neighborhood were built between the 1930s and 1940s, giving the area a very historical feel. Home and apartment vacancy rates are very low at 3-7%, and most of the tenants of the subject property are long-term tenants who have lived there since the 1990s. Analysis shows that this rate is lower than 48.7% of the neighborhoods in the nation, approximately near the middle range for vacancies. In the Redwood Dr / Market St neighborhood, 32.8 % of the working population is employed in executive, management, and professional occupations.. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 26% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (22.6%), and 18.6% in clerical, assistant, and tech support occupations.
