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.
Property has preliminary plans for the construction of a 26-unit senior housing development on just under an acre of land. The three story construction project consist of 20 units that will be 1 bedroom and 1 bathroom along with 6 singles with 1 bathroom each. The building also includes a managers office, a common use area that can be used as a gym, recreation room, barber shop and a pharmacy. No garages required only 38 stalls leaving 26 covered and 12 uncovered spaces. Currently property has a duplex consisting of units with a 1 bedroom and 1 bath each. Topography report has been completed along with the soil's reports showing favorable building conditions. The construction cost of the Proposed 26-unit building is not included in sales price.
Just Listed! Investor Opportunity! Don’t miss out on this fantastic opportunity for consistent cash flow! This fully rented 4-unit property, each with 2 bedrooms and 1 bath, is ideal for investors. Unit A has been recently upgraded, and all units come equipped with central air and heating. The property offers a shared laundry room, providing potential for additional income. It’s fully fenced with easy-to-maintain landscaping. Parking is ample with 4 covered spaces and 3 uncovered. Upper units feature balconies, while lower units have patios.
Income producing 3 Single Family detached residential homes. Great investment, Live in 1 and continue renting 2 other homes. Consists of two seperate entries. One home has it's own drive way and two back homes share driveway. Comes with great tenants
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
Moreno Valley is located in California. Moreno Valley, California has a population of 208,371. Moreno Valley is more family-centric than the surrounding county with 36.42% of the households containing married families with children. The county average for households married with children is 35.14%.
The median household income in Moreno Valley, California is $73,635. The median household income for the surrounding county is $76,066 compared to the national median of $69,021. The median age of people living in Moreno Valley is 31.5 years.
The average high temperature in July is 97 degrees, with an average low temperature in January of 37.9 degrees. The average rainfall is approximately 12.3 inches per year, with 0 inches of snow per year.
