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$ 1,030,000
Est. payment | /mo
2 Beds
2 Baths
6,529 Sqft Lot
$ 1,030,000
Est. payment | /mo
2 Beds
2 Baths
6,529 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV26204711
Bedrooms 2
HOA Fees $550/mo
Lot Size 6,529 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present 3080 Elgin Drive, a four-unit multifamily investment located in Riverside's University submarket, approximately two blocks from the University of California, Riverside (UCR). First offered for sale in 38 years, the property provides an investor with a rare opportunity to acquire a well-located asset with significant upside. The property consists entirely of 2BR / 1.5BA townhouse style units averaging approximately 1,050 square feet. Amenities include detached garages, private patios, on-site laundry and access to a common area pool. Gas and electricity are individually metered. Current scheduled rents range from $1,200 to $1,700 per month versus provided market-rent assumptions upwards of $2,375 per unit. The underwriting reflects scheduled rent growth from $69,600 to $114,000 and NOI growth from $41,457 to $84,525, creating a compelling value-add opportunity for an investor focused on long-term income growth. The location benefits from proximity to UCR, a growing student population and convenient regional connectivity via I-215, SR-60 and SR-91, supporting rental demand from students, families and working professionals alike.
Location
State CA
County Riverside
Zoning See Remark
Direction Canyon Crest Drive to Elgin Drive
Interior
Cooling Wall/Window
Fireplace No
Exterior
Pool Community/Common
View Y/N No
Building
Story 2
Level or Stories 2
Others
HOA Name University Townhomes
HOA Fee Include Exterior (Landscaping)
Senior Community No
Tax ID 250121012
Listed by Sean Hwangbo, DRE#01945497 TNG REAL ESTATE CONSULTANTS
Nearby Locations
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