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$ 3,595,000
Est. payment /mo
New
4561 Main ST Riverside, CA 92501
9,200 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 9,200 sqft
Price per Sqft $390
MLS Listing ID 26829247
HOA Y/N No
Year Built 1950
Lot Size 0.790 Acres
Property Description
We are pleased to present 4545-4581 Main Street, a 14-unit multifamily investment ideally located near Downtown Riverside. Positioned just off Magnolia Avenue and 14th Street, the property sits within one of Riverside's most desirable neighborhoods, known for its historic character, cultural attractions, and consistent rental demand. The asset spans three contiguous parcels totaling approximately 34,412 square feet and features a unique configuration of five separate buildings. This layout provides enhanced privacy, open space, and a predominantly single-story design, creating a more residential environment compared to traditional apartment complexes. Its proximity to Riverside City College and major transportation corridors further strengthens its long-term tenant appeal. The property offers key amenities that support stable occupancy, including 25 on-site parking spaces, an on-site laundry facility, and interior mini-split air conditioning systems. Recent capital improvements such as newer roofs and well-maintained exterior areas contribute to reduced maintenance needs and tenant retention. Additional income potential is supported by stand-alone garages that can be leased for storage, along with two separate owner's rooms that may offer future conversion into additional garages or ADU units, subject to buyer verification. The unit mix consists of one three-bedroom, two-bath home, six two-bedroom units, six one-bedroom units, and one studio, catering to a broad tenant base including students, professionals, and families. The property is currently operating at a 6.12% cap rate and 11.11 GIM, providing strong in-place income with upside through gradual rent growth. Located within a highly accessible and tenant-oriented corridor, the property is within walking distance to Riverside City College and under ten minutes from UC Riverside. Nearby amenities include major retail centers, employment hubs, and notable destinations such as the Mission Inn, The Cheech Center, Mount Rubidoux, and the California Citrus State Historic Park. With convenient access to the 91 and 215 Freeways, the property benefits from strong regional connectivity.45454581 Main Street represents a rare opportunity to acquire a well-located, low-density asset with stable cash flow and long-term growth potential in one of Riverside's most supply-constrained markets.
Location
State CA
County Riverside
Area 252 - Riverside
Zoning R3
Interior
Fireplace No
Exterior
Total Parking Spaces 25
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 219031005
Special Listing Condition Standard
Listed by Oscar Diaz Marcus & Millichap #02022902