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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$1,615,000

Est. payment - /mo

0.33 Acres Lot

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID CV26019708

HOA Y/N No

Year Built 1966

Lot Size 0.330 Acres

Property Sub-Type Apartment

Property Description

Pleased to exclusively present the opportunity to acquire two side-by-side 4-plex apartment buildings built in 1966 with 5,712 rentable square feet
on a 0.33 acre contiguous lot in the City of Riverside. This offering totals eight units and features a highly functional mix of one and two bedroom floor plans.
Ideally positioned with convenient access to the I-10, I-215, SR-60, and SR-91 freeways, the property offers residents excellent regional connectivity throughout the Inland Empire. The buildings are equipped with two on-site laundry facilities, wall-mounted air conditioner & heater units. Each unit is individually metered for gas and electricity & have individual hot water heaters. Parking consists of 11 open parking spaces. The property is on septic, with new tank installed in 2025. The electrical panels were also recently updated.
The asset presents a value-add opportunity, with the ability to enhance cash flow through rent growth. Additionally, qualified buyers may benefit from the potential availability of 30-year fixed-rate financing, a significant advantage for investors seeking stable, long-term returns on small-balance multifamily assets.
Riverside offers a strong and affordable investment backdrop anchored by steady job growth and a diversified employment base. The city is home to University of California, Riverside and benefits from a large public-sector presence tied to Riverside County, healthcare, education, and logistics. Compared to coastal Southern California markets, Riverside remains relatively affordable, supporting continued in-migration and sustained renter demand.
Residents enjoy a robust lifestyle and amenity base, including the historic Mission Inn Hotel & Spa, the Fox Performing Arts Center, and outdoor attractions such as California Citrus State Historic Park. With a population of approximately 323,700 and a median household income near $88,600, Riverside's demographic and economic fundamentals continue to support long-term multifamily ownership.
Overall, 421–427 Devener Street represents an attractive opportunity to acquire a centrally located apartment building in Southern California's most resilient and investor-friendly inland markets.

Location

State CA

County Riverside

Area 252 - Riverside

Interior

Heating None

Fireplace No

Laundry Common Area

Exterior

Parking Features On Site

Pool None

Community Features Curbs, Sidewalks

Total Parking Spaces 11

Private Pool No

Building

Lot Description Rectangular Lot

Story 2

Entry Level Two

Sewer Septic Type Unknown

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 247081007

Energy Description 438.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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Listed by Douglas McCauley MARCUS & MILLICHAP 626-695-6776

NEARBY SCHOOL & BUSINESS

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421 Devener Riverside, CA 92507