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Diego Magdaleno

1Vision Real Estate

diego@1visionproperties.com +1(714) 376-8652

$2,100,000

Est. payment - /mo

0.32 Acres Lot

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UPDATED:

01/14/2025 01:03 AM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW24239554

HOA Y/N No

Year Built 1971

Lot Size 0.320 Acres

Property Sub-Type Apartment

Property Description

22869-22877 Adrienne Ave. Well maintained 12 units with center courtyard. Located in great rental area. Always rented and always full. Excellent unix mix of one, two, and three bedrooms. 4.89% cap rate on existing rents. Gated parking in the rear of the property. Seller increasing rents to bring 2025 income to $147,092 and cap rate to 5.2%. One 3 bedroom unit rented to the on-site manager at a reduced rate. Proforma income of $156,692 could be obtained by self-managing property. Close to Cottonwood Golf Center, 99 Cents Store, TJ Maxx, BJ's Restaurant, Chili Grill, Ross, Banks and Moreno Valley Mall.

Location

State CA

County Riverside

Area 259 - Moreno Valley

Zoning R3

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Carpet

Fireplaces Type None

Fireplace No

Appliance Gas Cooktop, Disposal, Gas Oven, Gas Range, Gas Water Heater, Water Heater

Laundry Common Area

Exterior

Carport Spaces 12

Pool None

Community Features Biking, Curbs, Gutter(s), Suburban, Sidewalks

View Y/N Yes

View Neighborhood

Total Parking Spaces 12

Private Pool No

Building

Lot Description 11-15 Units/Acre

Story 2

Entry Level Two

Sewer Sewer Tap Paid

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 291294007

Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional

Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional

Special Listing Condition Standard

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Listed by Michael Lembeck • Citivest Realty Services, Inc • 714-742-3700

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22869 Adrienne AVE Moreno Valley, CA 92553