22898 Adrienne Avenue

  • Moreno Valley

  • $700,000
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Residential Income Details

Description
We are pleased to exclusively present for sale a 6-unit, single-story multi-family investment opportunity in Moreno Valley, California. Sitting on a .16 acre lot, the offering is well located within close proximity to Interstate 215 and State Route 60 and fifteen minutes distance from University of California, Riverside. The subject property is located in a quiet, single-family neighborhood and is within close proximity to Cottonwood Golf Center, Moreno Valley Police Department and Moreno Valley City Hall. The region benefits from an influx of out of area capital moving towards the Inland Empire for medical and distribution centers with approved mega projects anticipated to bring approximately 40,000 additional jobs to the city of Moreno Valley. Within a relatively short period of time, the new owner should realize the upside by leveling rents to market resulting in a 34% increase in net operating income. This opportunity presents a prospective investor the ability to own a stable, income producing asset in a non rent-controlled, high growth area.
Essential
MLS #CV18069914
Price$700,000
Number of Units6
Sale TypeStandard
StatusActive
Listing BrokerageMARCUS & MILLICHAP
Listing AgentEDWARD PAN
Listing Agent BRE #01894476
Interior
CoolingWall Window
Exterior
Garage Spaces0
PoolNone
Community
Area259 - Moreno Valley
CommunitySidewalks,Street Lighting
Address22898 Adrienne Avenue
CityMoreno Valley
CountyRiverside
StateCA
ZipCode92553
School

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Based on information from California Regional Multiple Listing Service, Inc. as of Monday, July 9, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.