3469 Lime Street, Riverside, CA 92501
Local realty services provided by:Better Homes and Gardens Real Estate Oak Valley
3469 Lime Street,Riverside, CA 92501
$1,075,000
- 5 Beds
- 5 Baths
- 2,056 sq. ft.
- Multi-family
- Active
Listed by: oscar diaz
Office: marcus & millichap
MLS#:25621531
Source:CRMLS
Price summary
- Price:$1,075,000
- Price per sq. ft.:$522.86
About this home
We are pleased to present 3469 Lime Street, a five-unit apartment property located just steps from the heart of Downtown Riverside and only 0.4 miles from the Mission Inn. Priced at $1,075,000, or $215,000 per unit, the offering provides investors with stable income and a favorable day-one cap rate. The property consists of five one-bedroom, one-bath units. The lower units feature private patio areas, while the upper units offer individual balconies, enhancing tenant appeal and supporting long-term retention. Built in 1986 on a 3,920 square foot lot, the property delivers comfortable and well-located housing in a walkable neighborhood close to Riverside's dining, retail, and cultural amenities. Its proximity to Downtown Riverside and the Mission Inn District drives consistent demand for smaller units, contributing to strong occupancy and reliable cash flow. Based on the current rent roll of $7,454 and the pro forma rent roll of $8,975, the property offers an immediate $1,521monthly upside, representing a 20.41% increase from existing income levels. In addition to this current upside, an owner who chooses to issue allowable rent increases under AB 1482 can further improve returns. With the ability to raise rents by up to 7.5%, investors can increase income within the first few months of ownership, elevating the projected cap rate to 6.15%. 3469 Lime Street presents an excellent opportunity to acquire a Downtown Riverside asset with private outdoor spaces, strong tenant demand drivers, and clear income growth supported by both existing upside and allowable rent adjustments.
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Home facts
- Year built:1986
- Listing ID #:25621531
- Added:47 day(s) ago
- Updated:December 19, 2025 at 02:27 PM
Rooms and interior
- Bedrooms:5
- Total bathrooms:5
- Living area:2,056 sq. ft.
Structure and exterior
- Year built:1986
- Building area:2,056 sq. ft.
- Lot area:0.09 Acres
Finances and disclosures
- Price:$1,075,000
- Price per sq. ft.:$522.86
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