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31139086
31139103

2032 W Linden, Riverside, CA 92507

BT
CA CA 01919955
CBRE - Ontario
EC
CA 01489184
CBRE - Ontario
KS
CA 02020968
CBRE - Ontario
Listed by CBRE - Ontario
$14,000,000
83 days on market
Updated 68 days ago

2032 W Linden

Details
APN 211151009
Property Type Multifamily
Sub Type Apartment Building
Square Footage 46,834
Units 63
Cap Rate 5.67%
NOI $793,460
Pro-Forma Cap Rate 6.87%
Pro-Forma NOI $962,096
Price per SqFt $299
Year Built 1959
Buildings 2
Stories 2
Acreage 1.520
Zoning Assessor
Investment Type Value Add

Just Listed: 63-Unit 2-Property Contiguous Parcels | City of Riverside | 5.67% Cap Rate

Marketing description

We are pleased to present the exclusive opportunity to acquire 63 units across two contiguous parcels, consisting of the La Paz and Las Palmas Apartments. Located in the heart of Riverside, these assets offer a premier foothold in one of Southern Californias most high-demand rental markets. These well-maintained assets occupy a prime location at 2032 and 2052 Linden Street, offering tenants unparalleled convenience and a high-quality lifestyle. The properties are located just minutes from the vibrant Downtown Riverside district, the historic Mission Inn Hotel and Spa, and major educational anchors including Riverside City College, Cal Baptist University and the University of California, Riverside. Commuters benefit from immediate access to the Metrolink Downtown Riverside Station and a sophisticated regional transportation network. With proximity to the 91, 10, 60, and 215 freeways, the property serves as a central hub connecting residents to major employment centers across Riverside, San Bernardino, Orange, and Los Angeles Counties. The community offers a secure environment through gated entry and perimeter fencing, complemented by a suite of amenities including a community swimming pool, shared laundry facilities, and an outdoor BBQ area. The architecture is defined by a classic stucco and stone aesthetic, framed by lush, mature landscaping. Property infrastructure includes both covered and surface parking for resident convenience. Two-car garages are also available for lease, ideal for both parking and additional storage. Interior features include functional kitchens equ

Investment highlights

  • Rare Contiguous Two-Parcel Acquisition in a High-Growth Market - Prime opportunity to acquire two multifamily properties situated directly side-byside. Featuring 63 total units, this is a rare chance to gain immediate scale within the highly desirable and supply-constrained Riverside submarket.

  • Attractive Yield and Strong Financial Fundamentals - Competitively priced at $222,222 per unit ($299 per RSF), the property offers a solid current cap rate of 5.67%. With an immediate 15% rental increase opportunity to align with current market levels, the asset provides a new owner with a reliable, highyielding income stream and long-term capital appreciation in a robust rental market.

  • Strong Unit Mix with Functional Floor Plans - Features a desirable composition of one studio, thirty-nine 1-bedroom/1-bathroom, and twenty-three 2-bedroom/1-bathroom apartment homes. Units average 709 SF, providing a versatile mix that caters to the area’s robust professional and student renter profiles.

  • Interior Finishes and Community Amenities - The gated community offers a swimming pool, laundry facilities, and BBQ areas set against lush landscaping. Interiors feature functional kitchens with oven ranges, vertical blinds, and durable tile or vinyl wood flooring, complemented by both covered and surface parking. Two-car garages are also available for lease, ideal for both parking and additional storage.

  • Exceptional Location Across from Key Community Landmarks - Ideally situated just minutes from Downtown Riverside and the historic Mission Inn Hotel and Spa. Tenants enjoy proximity to major educational anchors including Riverside City College, UC Riverside and Cal State Baptist University, as well as convenient access to the Metrolink Downtown Riverside Station.

  • Stable Cash Flow in a Well-Maintained Asset - The architecture is defined by classic stucco and stone, well-maintained to ensure long-term appreciation with minimal capital expenditures. The property’s gated entry and perimeter fencing provide a secure environment for a stable, long-term resident base.

  • Minutes from Major Regional Economic and Lifestyle Hubs - Direct access to the 91, 10, 60, and 215 freeways provides quick commutes to major employment centers in San Bernardino, Orange, and LA Counties. Residents are also within a short drive of premier shopping at the Galleria at Tyler and Riverside Plaza.

  • Ideal Acquisition for Multiple Buyer Profiles - The stable, well-maintained nature of the property makes it a secure investment for a first-time purchaser, a seasoned institutional investor, or a buyer seeking a seamless 1031 exchange. This portfolio offers an exceptional foothold in the thriving Inland Empire economy.

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Listing Contacts

BT
CA CA 01919955
CBRE - Ontario
EC
CA 01489184
CBRE - Ontario
KS
CA 02020968
CBRE - Ontario
Listed by CBRE - Ontario

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$793,460.00
$66,121.67/mo

Valuation Metrics

0
DSCR
5.67%
Cap Rate
5.67%
ROI

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Additional Information

Name
Blake Torgerson
License
CA 01919955
Brokerage
Blake Trorgerson
Title
Vice President
Brokerage Address
4141 Inland Empire Boulevard
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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