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30819857
30819858

1195 W Spring Street, Riverside, CA 92507

MARCUS & MILLICHAP
MARCUS & MILLICHAP
Listed by MARCUS & MILLICHAP
$885,000
133 days on market
Updated 12 days ago

1195 W Spring Street

Details
APN 247105005
Property Type Multifamily
Sub Type Apartment Building
Units 5
Cap Rate 6.85%
Buildings 1
Stories 1
Acreage 0.210
Zoning Public Rec

Multifamily | 6.85% CAP | 5 Units

Marketing 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-
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MARCUS & MILLICHAP
MARCUS & MILLICHAP
Listed by MARCUS & MILLICHAP

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