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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.
Listing agent: Tony Lee DRE #01034072 tony@tonyleeco.com, Listing office: Elite Homes Realty
MLS data updated 10/22/2026, 9:02:02 AM PT
Source: CRMLS, MLS #: OC26147016
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Compare recorded home prices, same-type ZIP sales and mortgage rates.
Sep 8, 2026
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This home · nearest recorded event
$1,863,000Original asking price · Sep 8, 2026ZIP 92505 · Sep 2026
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