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Dwight Multi-Family 4187 Dwight Ave 2 Unit Apartment Building $724,999 ($362,500/Unit) Riverside, CA 92507
Investment Highlights
- Two Homes in One Lot
- Newly Built ADU
- Rare Opportunity with Future Upside
Executive Summary
Rare Opportunity with Future Upside! This unique property features two beautifully finished homes on one lot, thoughtfully positioned on opposite sides of the property to maximize privacy and functionality. Both residences are fully operational and showcase quality workmanship, creating an ideal setup for multigenerational living, rental income, or owner-occupancy with supplemental income potential. As an added bonus, the seller has already consulted with an architect and obtained conceptual plans illustrating the potential placement of a third home on the property (buyers should verify all development possibilities with the appropriate agencies). Whether you’re looking for a turnkey investment, a family compound, or a property with future expansion potential, this offering combines immediate usability with exciting long-term possibilities. Cap rate reflects a stabilized, pro forma analysis based on market rents and reassessed property taxes, resulting in a 5.9% projected return.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$60,600
|
$34.03
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$60,600
|
$34.03
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$18,172
|
$10.20
|
| Net Operating Income |
$42,428
|
$23.82
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $60,600 |
| Annual Per SF | $34.03 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $60,600 |
| Annual Per SF | $34.03 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $18,172 |
| Annual Per SF | $10.20 |
| Net Operating Income | |
|---|---|
| Annual | $42,428 |
| Annual Per SF | $23.82 |
Property Facts
| Price | $724,999 | Lot Size | 0.18 AC |
| Price Per Unit | $362,500 | Building Size | 1,781 SF |
| Sale Type | Investment | Average Occupancy | 50% |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1943/2026 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Building Class | C |
| Price | $724,999 |
| Price Per Unit | $362,500 |
| Sale Type | Investment |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 1,781 SF |
| Average Occupancy | 50% |
| No. Stories | 1 |
| Year Built/Renovated | 1943/2026 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $2,800 | 1,076 |
| 2+1 | 1 | $2,250 | 705 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 221-051-020 | Improvements Assessment | $322,524 (2025) |
| Land Assessment | $72,828 (2025) | Total Assessment | $395,352 (2025) |
Property Taxes
Parcel Number
221-051-020
Land Assessment
$72,828 (2025)
Improvements Assessment
$322,524 (2025)
Total Assessment
$395,352 (2025)
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Dwight Multi-Family | 4187 Dwight Ave