3601-3607 9th St
Riverside, CA 92501
Retail Property For Sale

• The city of Riverside is the 12th most populous city in California and the downtown Riverside office market has the largest office market in the Inland Empire with of over 6.7 million square feet of office properties and one of the lowest vacancy rates of about 12.2%. The downtown Riverside is currently going through a resurgence including numerous multi-family projects. • Riverside is the City of Arts and Innovation and further complements with Encore School of the Arts location at the subject property. Encore’s Riverside Campus currently occupies five buildings, located within a walking distance from each other. The subject property houses 8 Encore arts classes, based largely around the music conservatory. The property benefits from the proximity to the Riverside Courthouse, Riverside Public Utilities Building and US Post Office Building. The property is located within walking distance of many restaurants, hotels, fitness, retail, and banks. There is an abundant, free and paid public parking near the subject property. • In 2015-2016, the property received a major renovation including a new fire sprinkler system, a new elevator, flooring upgrade, and restrooms and storage room addition which included approximately $750,000 in capital investment. This renovation and upgrade would help the new owner to achieve even much higher rents with minimal capital costs in the future. • Ability to collect income as well as potentially re-develop in the future. This strategy provides significant upside potential.