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10359 Gould ST Riverside, CA 92505
0.85 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26147016
HOA Y/N No
Lot Size 0.850 Acres
Property Description
Rare ±0.85-acre infill site Zoned R-3-1500 Multi-Family Residential in city of Riverside. Corner of Tyler street and Alrington Ave.
Received conceptual approval from the City of Riverside for a 27-unit multifamily project consisting of all 27 units 3-bedroom / 2-bathroom each.
Strong Rental Support for 3BR/2BA Units:
City of Riverside Section 8 vouchers : $2,851 – $3,320
Riverside County Section 8 v: $3,079
Illustrative Income Potential (at $3,000 per unit/month):
27 units × $3,000/month × 12 months = $972,000 potential gross annual income x 13 gross multiplier = potential furture value when project finished $12,636,000 .
This combination of conceptual City approval and proven demand for larger 3BR/2BA units creates an attractive opportunity for multifamily developers and investors seeking an infill project with a clear path forward.
Received conceptual approval from the City of Riverside for a 27-unit multifamily project consisting of all 27 units 3-bedroom / 2-bathroom each.
Strong Rental Support for 3BR/2BA Units:
City of Riverside Section 8 vouchers : $2,851 – $3,320
Riverside County Section 8 v: $3,079
Illustrative Income Potential (at $3,000 per unit/month):
27 units × $3,000/month × 12 months = $972,000 potential gross annual income x 13 gross multiplier = potential furture value when project finished $12,636,000 .
This combination of conceptual City approval and proven demand for larger 3BR/2BA units creates an attractive opportunity for multifamily developers and investors seeking an infill project with a clear path forward.
Location
State CA
County Riverside
Area 252 - Riverside
Zoning R3-1500
Interior
Fireplace No
Exterior
Community Features Biking
Utilities Available None, Sewer Not Available
View Y/N No
View None
Building
Lot Description 26-30 Units/Acre
Sewer None
Water Public
New Construction No
Others
Senior Community No
Tax ID 150091032
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
Listed by Tony Lee Elite Homes Realty 562-688-2505, DRE #01034072