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Key Details
Sold Price $1,000,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID WS14154947
Year Built 1970
Tax Year 2013
Lot Size 0.330 Acres
Property Description
PRICE REDUCED! CAP RATE NOW OVER 8%!
Fantastic 13 Unit Garden Apartment Building with very strong Cap Rate now available! Located literally 100 feet from Moreno Valley City Hall and Police Department, this recently remodeled Apartment Building offers safety and SECURITY in a PRIME location of Moreno Valley. Located two blocks away from the 215 Fwy and along the busy street of Alessandro, this Apartment Building has consistently been in high rental demand. Easy to Rent with EACH UNIT having it's own ASSIGNED Parking Space(s)! Building also has a Laundry Room that brings in additional income per month!
Recently remodeled features include: New Tile Floors, Paint, and Iron Security Gte! Units have been rented below market! Nearby rental units at the same price are in a worse community and drastically less safe. Very close to UC Riverside! Extra Income from Laundry Room as well.
Expenses are calculated from July 2013 to 2014.
Please do NOT disturb the Tenants. Showings to be made available by Appointment ONLY. Buyer to Verify All Information. Tenants pay Electricity and Gas.
Location
State CA
County Riverside
Area 259 - Moreno Valley
Interior
Heating Wall Furnace
Cooling Central Air
Flooring Stone, Tile
Fireplaces Type None
Laundry Common Area
Exterior
Exterior Feature Lighting, Rain Gutters, TV Antenna
Parking Features Assigned
Pool None
Community Features Foothills, Near National Forest, Storm Drain(s), Street Lights, Suburban, Sidewalks
Utilities Available Sewer Connected, See Remarks, Water Available
View Y/N Yes
View Golf Course
Roof Type Composition
Building
Lot Description 11-15 Units/Acre
Foundation Block
Sewer Sewer Assessment(s)
Water Public
Others
Acceptable Financing Cash, Cash to New Loan, Submit
Listing Terms Cash, Cash to New Loan, Submit
Special Listing Condition Standard
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Bought with General NONMEMBER • CRMLS