Investors and Homeowner Alert!!!! Building has all new windows throughout and recently New Exterior Painting. Tenant Occupancy Full with Month to Month Leases. Current Rents considerably under Market Rents. Tenants pay own Gas and Electric. No HOA's, Minimal Expenses. Great Investor Property..... Great FHA potential for owner occupied buyer.
Please do not disturb occupants. Quadruplex with 4 spacious 2 bedroom 1 bathroom units in high demand rental area. Each unit has central air and heat, 1 carport per unit off the street behind the building plus there are a 2 guest parking spaces. The interiors were all upgraded about 10 years ago. Building has a community laundry room. 5 electric meters, 5 gas meters, 1 water meter. Tenants pay their own electric and gas and landlord pays water and trash pickup. Quiet tenants and rents are paid. Good income and cap rate.
Take a look at this Great investment opportunity for cash flow or first-time home buyers looking for a deal! Buy to cash flow or live in one and rent the rest of the units! This remarkable property offers a total of 4 units. The biggest unit offers 3 bedrooms, and 2 baths with a fully renovated kitchen. The other 3 units are approximately 800 SQFT with 2 bedrooms and 1 bath. 2 units are on a contract lease and the other 2 are out of contract. There is a one-car garage for each unit & on-site laundry. It is Conveniently located near shopping centers, restaurants, Schools, Home Depot and more!
There are total 6 acres of land and 6 apartments, selling as land value as you can build additional houses and apartments on this property, it is an excellent location for development. Rental income effective Feb 1,2024 will be $8285 which is way below market rent ,Market rent for 2 bd is $2100 and 3 bd 2800 . Market rent could be $12000+ per month
Major Price reduction: 4 Plex: 2-bedrooms 1 bath each unit approx. 816 sqft. Long term Tenants with month to month rents, and well kept. Each unit assigned 1 detached garage at rear of property. Property has separate laundry room with washer/dryer hook-ups, separately metered, currently not being used. 4-plex has 1 huge water heater servicing all 4 units. Landlord pays for this on separate meter. In this area, sewer is paid for on annual tax bill. All units have stoves belonging to tenant. IMPROVEMENTS: all windows on building replaced with new ones. All garage doors are new. New kitchens in most units. Newer flooring in most units. Over past years electrical & plumbing upgrades. 5th electric meter is for laundry room and exterior lighting. 5th gas meter is for water heater and laundry room. Do not disturb Tenants. Rents listed begin 08/01/2024.
Moreno Valley is located in California. Moreno Valley, California has a population of 203,691. Moreno Valley is more family-centric than the surrounding county with 37.73% of the households containing married families with children. The county average for households married with children is 36.51%.
The median household income in Moreno Valley, California is $59,827. The median household income for the surrounding county is $60,807 compared to the national median of $57,652. The median age of people living in Moreno Valley is 30.3 years.
The average high temperature in July is 94.3 degrees, with an average low temperature in January of 42.3 degrees. The average rainfall is approximately 14.4 inches per year, with 0.3 inches of snow per year.
