$ 1,248,888
2029 Patterson ST Riverside, CA 92507
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$ 1,248,888
Est. payment | /mo
0.3 Acres Lot
$ 1,248,888
Est. payment | /mo
0.3 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRDW24239040
Originating Board California Regional MLS
Year Built 2024
Lot Size 0.300 Acres
Property Description
Whether you're an investor or a buyer seeking a multi-unit property to live in while generating rental income, this is an opportunity you won't want to miss. The potential for house hacking is enormous-live in one of the units while collecting rents from the others, or enjoy the steady, reliable income stream as an investor. The current property generates a strong net operating income (NOI) of $85,971 annually, making it a high-yield investment with exceptional growth potential in a booming area. With a cap rate of **6.9%**, this property represents a highly attractive opportunity for anyone looking to capitalize on Riverside's growing real estate market. This exceptional triplex is a rare gem in Riverside, offering a prime opportunity for both savvy investors and buyers looking to house hack. Situated just minutes away from the 91 and 215 freeways, as well as the vibrant Downtown Riverside area, this property offers unrivaled access to major commuter routes and city amenities. Riverside City College, the University of California Riverside (UCR), California Baptist University, shopping, dining, and entertainment options are a few minutes away, this location is truly at the heart of it all. The property features three distinct units, each with unique potential. One of the detached
Location
State CA
County Riverside
Area 252 - Riverside
Interior
Heating Central Forced Air
Laundry In Laundry Room, Other
Exterior
Garage Spaces 6.0
Pool None
Building
Water District - Public
Others
Tax ID 211111050
Special Listing Condition Not Applicable
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Listed by Gerardo Garcia Macias • KASE Real Estate
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "