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  • MLS#: CV26019641 ( Apartment )
  • Street Address: 1195 Spring Street
  • Viewed: 1
  • Price: $965,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1962
  • Bldg sqft: 0
  • Days On Market: 4
  • Additional Information
  • County: RIVERSIDE
  • City: Riverside
  • Zipcode: 92507
  • Provided by: MARCUS & MILLICHAP
  • Contact: Douglas Douglas
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    Pleased to exclusively present the opportunity to acquire a five unit multifamily property built in 1962 with 3,264 rentable square feet on a 0.21 acre lot in the City of Riverside. The property features a highly functional unit mix of one and two bedroom floor plans, with single story construction. The property has an on site laundry room, wall mounted air conditioner & heater units, & each unit is separately metered for gas and electricity. The property is on septic. Parking consists of 5 carport parking spaces and 4 open space parking. Riverside presents a compelling investment environment driven by a diverse employment base, continued population growth, and relative affordability compared to coastal markets. Major employment anchors include the County of Riverside, March Air Reserve Base, and the University of California, Riverside, which together support stable housing demand from government, military, academic, and healthcare professionals. Residents enjoy a strong quality of life with access to Downtown Riverside amenities such as the historic Mission Inn, the Fox Performing Arts Center, and outdoor recreation at California Citrus State Historic Park. Ongoing downtown reinvestment, including the Riverside Alive initiative featuring new residential, office, retail, hotel uses, and convention center expansion, further reinforces long term economic growth and rental demand. With solid fundamentals, efficient unit layouts, limited utility exposure, and a growing Inland Empire market, 1195 Spring Street offers investors an attractive opportunity to acquire a stable, well located multifamily asset positioned for durable income and long term appreciation.
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Features
Building Area Total
  1. 3264.00
Carport Spaces
  1. 5.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Country
  1. US
Electric Expense
  1. 0.00
Entry Location
  1. Front
Fuel Expense
  1. 0.00
Garage Spaces
  1. 0.00
Gardner Expense
  1. 1200.00
Insurance Expense
  1. 5000.00
Laundry Features
  1. Community
Lot Features
  1. Level with Street
Netoperatingincome
  1. 58240.00
Newtaxesexpense
  1. 10872.00
Otherexpense
  1. 800.00
Otherexpensedescription
  1. Misc.
Otherincome1
  1. 375.00
Otherincomedescription
  1. Late Fees
Parcel Number
  1. 247105005
Parking Features
  1. Carport
  2. On Site
Pool Features
  1. None
Professionalmanagementexpense
  1. 0.00
Property Type
  1. Apartment
Sewer
  1. Septic Type Unknown
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 455471979:CRM
Tenant Pays
  1. Electricity
  2. Gas
Totalexpenses
  1. 34732.00
Trash Expense
  1. 6360.00
Uncovered Spaces
  1. 4.00
Water Sewer Expense
  1. 4000.00
Water Source
  1. Public
Year Built
  1. 1962
Year Built Source
  1. Public Records