22898 Adrienne Avenue

    Moreno Valley, CA 92553
    • $700,000
    • STATUS: Active
    • ON SITE: 175 days
    • ID#: CV18069914
    UPDATED: 59 min ago
    $700,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,850
      SQFT
    • $246
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1970
    County:

    School Ratings & Info

    Description

    We are pleased to exclusively present for sale a 6-unit, single-story multi-family investment opportunity in Moreno Valley, California. Sitting on a .16 acre lot, the offering is well located within close proximity to Interstate 215 and State Route 60 and fifteen minutes distance from University of California, Riverside.The subject property is located in a quiet, single-family neighborhood and is within close proximity to Cottonwood Golf Center, Moreno Valley Police Department and Moreno Valley City Hall. The region benefits from an influx of out of area capital moving towards the Inland Empire for medical and distribution centers with approved mega projects anticipated to bring approximately 40,000 additional jobs to the city of Moreno Valley.Within a relatively short period of time, the new owner should realize the upside by leveling rents to market resulting in a 34% increase in net operating income. This opportunity presents a prospective investor the ability to own a stable, income producing asset in a non rent-controlled, high growth area.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-19T13:29:42.577. 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.
    www.amazingtemeculahomes.com/homes/82062118

    22898 Adrienne Avenue Moreno Valley, CA 92553

    • Price: $700,000
    • Status: Active
    • Updated: 59 min ago
    • ID#: CV18069914
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    2,850
    SQFT
    $246
    $/SQFT
    1970
    Built
    Neighborhood:
    259 - Moreno Valley
    County:
    Riverside
    Area:
    259 - Moreno Valley
    Property Description
    We are pleased to exclusively present for sale a 6-unit, single-story multi-family investment opportunity in Moreno Valley, California. Sitting on a .16 acre lot, the offering is well located within close proximity to Interstate 215 and State Route 60 and fifteen minutes distance from University of California, Riverside.The subject property is located in a quiet, single-family neighborhood and is within close proximity to Cottonwood Golf Center, Moreno Valley Police Department and Moreno Valley City Hall. The region benefits from an influx of out of area capital moving towards the Inland Empire for medical and distribution centers with approved mega projects anticipated to bring approximately 40,000 additional jobs to the city of Moreno Valley.Within a relatively short period of time, the new owner should realize the upside by leveling rents to market resulting in a 34% increase in net operating income. This opportunity presents a prospective investor the ability to own a stable, income producing asset in a non rent-controlled, high growth area.
    Exterior Features

    Garage Spaces 0.00 Lot Features 36-40 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 6.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Wall Window Cooling YN Yes Laundry Features None Levels One

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.93 Community Features SidewalksStreet Lighting Country Us Electric Expense 132.16 Elevation Units Feet Fuel Expense 413.92 Gross Income 59139.00 Gross Multiplier 12.54 Gross Scheduled Income 62208.00 Insurance Expense 1500.00 Land Lease YN No Laundry YN No Net Operating Income 38451.00 New Taxes Expense 10072.00 Number Of Separate Electric Meters 7 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 20687.00 Professional Management Expense 4435.00 Rent Control YN No Senior Community YN No Special Listing Conditions Standard Total Expenses 20687.00 Trash Expense 160.00 Utilities Sewer Connected Water Sewer Expense 268.84 Water Source Public Year Built Source Estimated Zoning R3

    Listing provided courtesy of Edward Pan of Marcus & Millichap.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-19T13:29:42.577. 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.
     
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