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$ 1,863,000
Est. payment /mo
Active
10359 Gould Riverside, CA 92505
0.85 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Lots/Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26147016
Lot Size 0.850 Acres
Property Sub-Type Lots/Land
Property Description
Rare 0.85-acre infill site Zoned R-3-1500 Multi-Family Residential in city of Riverside. Corner of Tyler street and Alrington Ave. Received conceptual approval from the City of Riverside for a 27-unit multifamily project consisting of all 27 units 3-bedroom / 2-bathroom each. Strong Rental Support for 3BR/2BA Units: City of Riverside Section 8 vouchers : $2,851 $3,320 Riverside County Section 8 v: $3,079 Illustrative Income Potential (at $3,000 per unit/month): 27 units $3,000/month 12 months = $972,000 potential gross annual income x 13 gross multiplier = potential furture value when project finished $12,636,000 . This combination of conceptual City approval and proven demand for larger 3BR/2BA units creates an attractive opportunity for multifamily developers and investors seeking an infill project with a clear path forward.
Location
State CA
County Riverside
Direction Corner of Tyler street and Alrington Ave.
Interior
Fireplace No
Exterior
View Y/N No
Others
Senior Community No
Tax ID 150091032
Acceptable Financing Cash
Listing Terms Cash
Listed by Tony Lee, DRE#01034072 Elite Homes Realty
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