2029 Patterson Street

Riverside, CA 92507

  • 7 Bed(s)
  • 5.5 Bath(s)
  • 2,961 Sqft
  • 13068
    Sqft(Lot)
$1,175,000

Description

This property presents itself as an exceptional opportunity in riverside’s thriving real estate market, offering a rare combination of immediate income and long-term growth potential. whether you're an experienced investor or a savvy homebuyer looking to make a smart move, this multi-unit property has everything you need to succeed. with its prime location, strong rental history, and future expansion possibilities, it’s an opportunity you won’t want to miss. the property features three distinct units, each offering its own unique appeal. one standout is the brand-new, detached unit—a spacious 3-bedroom, 2.5-bathroom home with a 2-car garage, separate utilities, and separate address. this newly constructed 1,199 sqft home provides the perfect blend of comfort and independence, making it ideal for a homeowner or tenant. the other two units have been recently remodeled, with one offering a 3-bedroom, 2-bathroom layout and the other a 1-bedroom, 1-bathroom unit. both are well-maintained and thoughtfully updated, featuring a 6 year old roof, pex plumbing, an updated dual electric panel, and a brand new gas line. both units offer a mix of spaciousness and charm. the two occupied units share utilities, providing efficiency while maintaining privacy for each tenant. set on a generous **13,068 sqft lot**, this property offers a wealth of potential for further growth and to potentially build more units. with a **cap rate of 7.27%**, the property already offers strong returns, but the possibility of increasing income through development makes it an even more exciting investment. riverside’s location adds another layer of appeal. just minutes from the 91 and 215 freeways, as well as the vibrant downtown riverside, this property offers easy access to major commuter routes, shopping, dining, and entertainment. with local institutions like riverside city college, uc riverside, and california baptist university nearby, demand for rental properties in this area is only expected to increase, making this an even more enticing opportunity. whether you’re looking for a home with income-generating potential or an investment property with substantial upside, this riverside gem has it all. with a combination of prime location, solid cash flow, and exciting future prospects, this opportunity won’t last long. make your move today and seize the chance to be a part of riverside’s flourishing real estate market.*grass was added onto the images virtually to enhance the property images*

  • Property Type

    Residential Income

  • County

    Riverside

  • Style

    Residential Income

  • AD ID

    49236435

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Public Sewer

    Interior Features

    • Interior Features: Open Floorplan,Pantry,Attic,Primary Suite,Walk-In Closet(s)
    • Property Appliances: Gas Range

    Cooling Features

    • Central Air
    • Air Conditioning

    Heating Source

    • Central
    • Has Heating

  • Building Information

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

    Pool Features

    • None

    Laundry Features

    • Inside,Laundry Room

    Fencing

    • Brick

  • 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: 1,175,000
    • Listing Contract Date: 2025-04-04

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 211111050

  • Garage and Parking

    • Garage Description: Assigned

    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: 1
    • Common Walls: 1 Common Wall
    • Structure Type: Triplex
    • Year Built Source: Assessor
    • Entry Level: 1
    • Entry Location: front gate
    • Property Attached: Yes
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 04/18/2025 @ 00:29

  • MLS: DW25074095
  • 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. are nearby neighborhoods.