3080 Elgin Drive, Riverside, CA 92507
List Price: $1.03M
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1964
Lot Size: 6,529 sq ft
Garage Spaces: 4
Private Pool: Yes
HOA Fee: $550/Monthly
MLS Number: CV26204711
About This Property
We are pleased to present 3080 Elgin Drive, a four-unit multifamily investment located in Riverside's University submarket, approximately two blocks from the University of California, Riverside (UCR). First offered for sale in 38 years, the property provides an investor with a rare opportunity to acquire a well-located asset with significant upside. The property consists entirely of 2BR / 1.5BA townhouse style units averaging approximately 1,050 square feet. Amenities include detached garages, private patios, on-site laundry and access to a common area pool. Gas and electricity are individually metered. Current scheduled rents range from $1,200 to $1,700 per month versus provided market-rent assumptions upwards of $2,375 per unit. The underwriting reflects scheduled rent growth from $69,600 to $114,000 and NOI growth from $41,457 to $84,525, creating a compelling value-add opportunity for an investor focused on long-term income growth. The location benefits from proximity to UCR, a growing student population and convenient regional connectivity via I-215, SR-60 and SR-91, supporting rental demand from students, families and working professionals alike.
Listing provided by: Sean Hwangbo DRE #01945497 714-203-8555 seanhwangbo@outlook.com, TNG REAL ESTATE CONSULTANTS
Source: CRMLS, MLS #: CV26204711
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.
