$719,890

3985 Kansas Avenue

Riverside CA, 92507

Description

Income opportunity ~ NO RENT CONTROL. Agents; please share PDF file under supplements in MLS with units' drafted lay-out and share with your clients to better understand the structures. These three units in the Heart of #RiversideCalifornia : 3985, 3983 & 3981 Kansas Avenue, Riverside Ca. 92507. 1ST UNIT: 3985 Kansas Ave. has 3 bedroom (Plus a bonus 4th bedroom) 2 bathrooms and measures 1,283 square feet (THIS IS THE CORNER UNIT WHICH IS IN GOOD CONDITIONS BUT HAS NOT BEEN RECENTLY RENOVATED); 2ND UNIT: 3983 Kansas Ave. has 2 bedrooms and 1 bathroom and measures 873 square feet. This unit offers new laminate, tile and carpet flooring, new windows, new electrical with recess lighting and fixtures, new bathrooms, new kitchen, new plumbing & drains, new fence in the rear and the side, new closets and termite has been completed; 3981 Kansas Ave. has 2 bedroom, 2 bathrooms and measures 873 as well (THIS UNIT HAS JUST BEEN RENOVATED AS WELL). This is a central location across the street from Bobby Bonds Park & Cesar Chavez Center, conveniently situated between the 91 and 60 freeways and a very short drive to RCC and UCR. Property has great long term tenants with impecable record. Immediate cap rate increase to 6.5% when rents become adjusted to current fair market. Corner house can rent for $2,100.00 P/M; the 2nd unit with 2be/1ba can rent for $1,450.00 & the 2be/2ba unit may rent for $1,550.00 "No rent control" Great opportunity. BUYER TO ASSUME TENANTS. Seller recently signed a one year lease until April 2022 which is when rents can be increase again.

Details

MLS#IV21064140
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1946
Days On Site47

Features

SQ Feet2,966
Units3
Building(s)2
Water FrontNo

Market Activity 92507

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Area Information
StateCA
CountyRiverside
CityRiverside
Zip Code92507
Area252 - Riverside
Listing VS Median (in 92507)
Price:
$719,890
low | high
Med:
$479,500
83.392601647474% of Average
SqFt:
2,966
low | high
Med:
1,044
100% of Average
$ / SqFt:
$243
low | high
Med:
$460
39.415368318497% of Average
On Site:
47
low | high
Med:
92.500000
50.810810810811% of Average
Sourced by Back At You
Listing Updated: May 10, 2021 7:14:59 AM PDT
MICHAEL NUGENT LogoMLS Number: IV21064140
Listing Provided By:
MICHAEL NUGENT  of  REALTY MASTERS ASSOCIATES
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.