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Multifamily

Bel Air Apartments

3500 Lou Ella Lane, Riverside, CA 92507

Listing Price: $4,080,000

Cap Rate
4.26%
Number of Units
16
Occupancy
100.0%
Price/Unit
$255,000

Investment Overview

Marcus & Millichap is please to exclusively present the opportunity to acquire 3500 Lou Ella Lane, a 16-unit multifamily investment property located in Riverside, California. Built in 1958, the property sits on a 21,344 square foot parcel and has a building size of approximately 13,226 square feet. The building consists of eight one-bedroom/one-bathroom units, seven two-bedroom/one-bathroom units and one three-bedroom/two-bathroom unit. Parking consists of fourteen gated carport parking, two open space parking, and two garages accessible by way of a rear alley. The property features new double-pane windows, freshly painted railings and building exterior. Residents also enjoy amenities include an on-site laundry facility, gated community swimming pool, and secured entrances. Selected units also have balconies. All units are individually metered for gas and electricity. The property has an attractive rental location in the busy city of Riverside and is ideally situated at the junction of Interstate 215, California 60 and 91 Freeways. The apartment is within walkable distance to major department and grocery stores such as Walgreens, Dollar Tree, and Food 4 Less. Because of its proximity to University of California Riverside and Downtown Riverside, the city is well served by the Riverside Metrolink and Transit Agency, providing residents many alternative ways of traveling to work, entertainment, dining, shopping, and school. In addition, the city of Riverside features several historical buildings and recreations, including the Mission Inn Museum, Riverside Municipal Auditorium, First Congregational Church, and Mount Rubidoux Park with an excellent city view.

Investment Highlights

  • Excellent Rental Location
  • Mix of One, Two, Three Bedroom Floorplans
  • Individually Metered for Gas and Electricity
  • On-Site Laundry Facility | Community Swimming Pool | Secured Entrances
  • Easy Access to Three Major Freeways, Interstate 215, California 60 and 91

Exclusively Listed By

Multifamily

Bel Air Apartments

Listing Price: $4,080,000

Cap Rate
4.26%
Number of Units
16
Occupancy
100.0%
Price/Unit
$255,000

Investment Highlights

  • Excellent Rental Location
  • Mix of One, Two, Three Bedroom Floorplans
  • Individually Metered for Gas and Electricity
  • On-Site Laundry Facility | Community Swimming Pool | Secured Entrances
  • Easy Access to Three Major Freeways, Interstate 215, California 60 and 91

Investment Overview

Marcus & Millichap is please to exclusively present the opportunity to acquire 3500 Lou Ella Lane, a 16-unit multifamily investment property located in Riverside, California. Built in 1958, the property sits on a 21,344 square foot parcel and has a building size of approximately 13,226 square feet. The building consists of eight one-bedroom/one-bathroom units, seven two-bedroom/one-bathroom units and one three-bedroom/two-bathroom unit. Parking consists of fourteen gated carport parking, two open space parking, and two garages accessible by way of a rear alley. The property features new double-pane windows, freshly painted railings and building exterior. Residents also enjoy amenities include an on-site laundry facility, gated community swimming pool, and secured entrances. Selected units also have balconies. All units are individually metered for gas and electricity. The property has an attractive rental location in the busy city of Riverside and is ideally situated at the junction of Interstate 215, California 60 and 91 Freeways. The apartment is within walkable distance to major department and grocery stores such as Walgreens, Dollar Tree, and Food 4 Less. Because of its proximity to University of California Riverside and Downtown Riverside, the city is well served by the Riverside Metrolink and Transit Agency, providing residents many alternative ways of traveling to work, entertainment, dining, shopping, and school. In addition, the city of Riverside features several historical buildings and recreations, including the Mission Inn Museum, Riverside Municipal Auditorium, First Congregational Church, and Mount Rubidoux Park with an excellent city view.

Exclusively Listed By

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