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3159 1st St 6 Unit Apartment Building $1,495,000 ($249,167/Unit) 6.79% Cap Rate Riverside, CA 92507
EXECUTIVE SUMMARY
Prime 6-Unit Apartment Complex Near Downtown Riverside
Don’t miss this excellent investment opportunity! This well-maintained 6-unit apartment complex is ideally located just minutes from the heart of Downtown Riverside, offering a strong and stable rental income month after month.
The property features a diverse mix of unit types to attract a wide range of tenants:
1 Studio
1 One-Bedroom Unit
2 Two-Bedroom Units
2 Three-Bedroom Units
Some units are equipped with washer and dryer hookups, adding convenience and value for tenants. The property offers a combination of onsite parking and ample street parking, making it easily accessible for all residents.
The roof is in solid condition, and the building has been consistently producing reliable rental income with minimal vacancies. Located near shops, restaurants, and public transportation, this property is a great opportunity for investors looking to own in a high-demand rental market.
Don’t miss this excellent investment opportunity! This well-maintained 6-unit apartment complex is ideally located just minutes from the heart of Downtown Riverside, offering a strong and stable rental income month after month.
The property features a diverse mix of unit types to attract a wide range of tenants:
1 Studio
1 One-Bedroom Unit
2 Two-Bedroom Units
2 Three-Bedroom Units
Some units are equipped with washer and dryer hookups, adding convenience and value for tenants. The property offers a combination of onsite parking and ample street parking, making it easily accessible for all residents.
The roof is in solid condition, and the building has been consistently producing reliable rental income with minimal vacancies. Located near shops, restaurants, and public transportation, this property is a great opportunity for investors looking to own in a high-demand rental market.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$114,720
|
$23.90
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$114,720
|
$23.90
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$13,200
|
$2.75
|
| Net Operating Income |
$101,520
|
$21.15
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $114,720 |
| Annual Per SF | $23.90 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $114,720 |
| Annual Per SF | $23.90 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $13,200 |
| Annual Per SF | $2.75 |
| Net Operating Income | |
|---|---|
| Annual | $101,520 |
| Annual Per SF | $21.15 |
PROPERTY FACTS
| Price | $1,495,000 | Building Class | C |
| Price Per Unit | $249,167 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 4,800 SF |
| Cap Rate | 6.79% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 0.21/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R2, Riverside - Residential | ||
| Price | $1,495,000 |
| Price Per Unit | $249,167 |
| Sale Type | Investment |
| Cap Rate | 6.79% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 4,800 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 0.21/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R2, Riverside - Residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | $1,200 | 450 |
| 1+1 | 1 | $1,600 | 550 |
| 2+1 | 2 | $1,860 | 825 |
| 3+1 | 2 | $2,050 | - |
1 1
PROPERTY TAXES
| Parcel Number | 209-241-016 | Improvements Assessment | $542,883 (2025) |
| Land Assessment | $99,994 (2025) | Total Assessment | $642,877 (2025) |
PROPERTY TAXES
Parcel Number
209-241-016
Land Assessment
$99,994 (2025)
Improvements Assessment
$542,883 (2025)
Total Assessment
$642,877 (2025)
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