2029 Patterson Street

Riverside, CA 92507

  • 7 Bed(s)
  • 5.5 Bath(s)
  • 2,961 Sqft
  • 13068
    Sqft(Lot)
$1,248,888

Description

Whether you're an investor or a buyer seeking a multi-unit property to live in while generating rental income, this is an opportunity you won’t want to miss. the potential for house hacking is enormous—live in one of the units while collecting rents from the others, or enjoy the steady, reliable income stream as an investor. the current property generates a strong net operating income (noi) of $85,971 annually, making it a high-yield investment with exceptional growth potential in a booming area. with a cap rate of **6.9%**, this property represents a highly attractive opportunity for anyone looking to capitalize on riverside's growing real estate market. this exceptional triplex is a rare gem in riverside, offering a prime opportunity for both savvy investors and buyers looking to house hack. situated just minutes away from the 91 and 215 freeways, as well as the vibrant downtown riverside area, this property offers unrivaled access to major commuter routes and city amenities. riverside city college, the university of california riverside (ucr), california baptist university, shopping, dining, and entertainment options are a few minutes away, this location is truly at the heart of it all. the property features three distinct units, each with unique potential. one of the detached units is a brand-new construction, offering 3 spacious bedrooms, 2.5 bathrooms with a 2-car garage. at 1,199 sqft, this beautiful home is fully independent, with its own separate utilities. the other two units are well-maintained, recently remodeled and offer a combined mix of 3-bedroom, 2-bathroom (1,162 sqft) and 1-bedroom, 1-bathroom (600 sqft) units, both sharing utilities. both occupied units are on a month to month lease. with a huge lot measuring 13,068 sqft, the property offers plenty of space for potential future improvements or expansion. whether you're looking for the perfect place to live or a solid, income-generating investment, this property checks all the boxes. don’t let this once-in-a-lifetime opportunity slip away. make your move today!

  • Property Type

    Residential Income

  • County

    Riverside

  • Style

    Residential Income

  • AD ID

    47772984

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Public Sewer

    Heating Source

    • Central
    • Has Heating

  • Building Information

    • Year Built: 2024
    • Building Area Total: 2,961

    Pool Features

    • None

    Laundry Features

    • Inside,Laundry Room

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.3
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 13068

  • Listing Price Information

    • Original List Price: 1,248,888
    • Listing Contract Date: 2024-11-22

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 211111050

  • Garage and Parking

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: 252 - Riverside
    • Postal Code Plus 4: 3527
    • Directions: left side of patterson st
    • Zoning: R3
    • Source Property Type: Residential Income
    • Area: 252 - Riverside
    • Property SubType: Triplex

    Building and Construction

    • Property Age: 0
    • Common Walls: No Common Walls
    • Structure Type: Triplex
    • Year Built Source: Appraiser
    • Entry Level: 1
    • Entry Location: front door
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 11/25/2024 @ 13:34

  • MLS: DW24239040
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 7 bedrooms which is for sale, it has 2,961 sqft, 13,068 sized lot, and 2 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Riverside , in zip code 92507, this Riverside County Home are nearby neighborhoods.