CBRE is pleased to exclusively present the offering of a 12-unit apartment building located in Riverside, California. The Palm Courtyard Apartments have an excellent unit mix of 9 one-bedroom / one-bathroom units at approximately 650 square feet, and 3 two-bedroom / one-bathroom units at approximately 750 square feet, with a total building size of ±8,992 square feet. The property offers leased washers and dryers in the Laundry room and plenty of parking including several covered spots. This quiet community boasts a lushly landscaped courtyard with long term tenants. The property also contains several storage closets for both the residents and owner. The property is currently 100% occupied, however there is a tremendous upside potential as the rents are significantly below market. There similar one-bedroom / one-bathroom units in the area that rent from $1,100-$1,200 and similar two-bedroom / one-bathroom units that are achieving $1,240-$1,300. The Palm Courtyard Apartments are located in a prime location in the heart of Downtown Riverside. The property is within a 1-mile radius from Riverside Community Hospital, Mission Inn Hotel & Spa, Riverside Community College, Museums, City Hall, Transit Center, Evans Sports Complex, and the Fox Theater. This desirable property is tucked away in a residential neighborhood with old historic homes and surrounded by the 91, 60, and 215 freeways.
