Active

1864 12th Street

Riverside CA, 92507

$4,950,000


$305.56 per sqft

Active

16,200 sqft

Multi-family

Built in 1990

Listed by SEAN HWANGBO with REALTY ONE GROUP WEST 909-694-0160

DRIVE BY ONLY. DO NOT DISTURB TENANTS. We are pleased to exclusively present the opportunity to acquire Villa Ava Apartments, a gated 20-unit multifamily community located in Riverside, CA. Constructed in 1990 and situated on .75 acres, the property is comprised of two rental buildings with a strong unit mix of one- and two-bedroom floorplans that range in size from 750 to 850 square feet. The spacious units are efficiently designed and feature well-equipped kitchens, a private patio or balcony and a mix of plush carpeting & tile flooring. Villa Ava provides residents on-site laundry facility, manicured landscaping, and are individually metered for gas & electricity with individual water heaters. The property is fully-gated and fully-surveillanced with controlled access and offers both open and covered carports for parking.The community has convenient access to the 60, 91, and 215 freeways, connecting the community throughout Southern California and is one mile from the University of California, Riverside (UCR) campus with an undergraduate population of over 22,903 and growing. In addition, the property is within minutes to grade schools, employment centers, hospitals, dining, retail, and Downtown Riverside.Villa Ava is neatly-positioned to benefit from rapidly-increasing population growth of the city of Riverside as demand for multifamily housing increases in the city and barriers to entry for home ownership widens. Operational upside coupled with potential student housing conversion further enhances the desirability of this offering.

CV23054593

MLS ID

April 4, 2023

Listed

December 2, 2023

Updated

Map

1864 12th Street
Riverside CA, 92507

Interior Features

Total Stories

2


Laundry Description

Common Area, Laundry Room


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.75 acres


Lot Features

26-30 Units/Acre


Sewer

Public Sewer

Other Property Details

Area Name

252 - Riverside


Days on Market

241


Association Amenities

Curbs, Foothills, Street Lights, Suburban, Sidewalks


Garage

No


Parking

No


Parking Total

20


View

No


County

Riverside


Water Source

Public


Pool

No


Pool Features

None


Zoning

R1065


Buyer Agency Compensation

1.75%

Listing History

Date

Event

Price

12/2/2023

Price Change

$4,950,000

-7%

Listing Contact: 909-694-0160 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/2/2023. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2023 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 12/2/2023 at 4:18 AM UTC

 

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