10359 Gould Street, Riverside, CA 92505
- $1,863,000
- List Price
- $1,863,000
- Status
- ACTIVE
- MLS#
- OC26147016
- Lot Size
- 37,026
- Acres
- 0.85
- Lot Location
- 26-30 Units/Acre
- Days on Market
- 2
- Property Type
- Land
Property Description
Rare ±0.85-acre infill site Zoned R-3-1500 Multi-Family Residential in city of Riverside. Corner of Tyler street and Alrington Ave. Received conceptual approval from the City of Riverside for a 27-unit multifamily project consisting of all 27 units 3-bedroom / 2-bathroom each. Strong Rental Support for 3BR/2BA Units: City of Riverside Section 8 vouchers : $2,851 – $3,320 Riverside County Section 8 v: $3,079 Illustrative Income Potential (at $3,000 per unit/month): 27 units × $3,000/month × 12 months = $972,000 potential gross annual income x 13 gross multiplier = potential furture value when project finished $12,636,000 . This combination of conceptual City approval and proven demand for larger 3BR/2BA units creates an attractive opportunity for multifamily developers and investors seeking an infill project with a clear path forward.
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Additional Information
- View
- None
- Sewer
- None
- Water
- Public
- Attached Structure
- Detached
Listing courtesy of Listing Agent: Tony Lee (tony@tonyleeco.com) from Listing Office: Elite Homes Realty.
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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, 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.