3030 Elgin Dr, Riverside, CA 92507

Property Description

We are pleased to present a four-unit multifamily investment located in the University submarket of Riverside, California. This offering presents the opportunity for investors to acquire a well-maintained building in one of the most desirable submarkets in the Inland Empire.
 The subject property consists of one hundred percent, townhouse style 2BR/1.5BA units with over 1,000 square feet of living space. Amenities include fireplaces, garages, enclosed patios, on-site laundry, and a gated community pool available for tenants. Upgrades include but not limited to: Complete rebuild for garages, thorough exterior wood trim, new exterior fascia boards, new paint for entire building, tree trimming, new carpets in units A, B & C, and a certified lead inspection. The Home Owner Association (HOA) within the community is responsible for trash, and the upkeep and maintenance of the pool and landscape of the common areas.
 There is always an overwhelming demand for rentals in the area, as it caters to the student population as well as to families and working professionals alike. With favorable terms currently available, upside potential, and the high demand for this submarket area, the subject property presents investors a rare opportunity to acquire a multi-family asset in a prime location which can be converted to student housing at much higher rental rates in the near future.