4075 4055 Briggs St, Riverside, CA 92509

Property Description

PRICE REDUCTION: This sale includes two separate parcels and two different address. Building # 4075 has a total of 23 units and #4055 has a total of 24 units. Both properties to be sold as a package. The two properties are separated by a public alley. Mangers unit is located at 4075. Property is managed by hands on owners and a well taken care of property. Property is fully occupied and units rent out very quickly if there is a vacancy. There is an upside on raising rents, current market rents in the area for one bedroom units are as high as $900 per month. Property is well located close to shopping and post office. A brand new affordable apartment complex is be constructed next door with 2 & 3 bedroom units, which will be an added asset to the subject property. The unit mix is 44 one bedrooms and 3 studio apartments. All units have central heat and air conditioning, gas stoves, dishwashers and disposals. All units are have separate gas and electric meters. Hot water and trash is supplied by owner. There is two laundry locations for each property. The washer and dryers units are leased on a month to month agreement. A total of 59 onsite parking spaces with one handicap space.