10359 Gould ST, Riverside, CA 92505
10359 Gould ST, Riverside, CA 92505
10359 Gould ST, Riverside, CA 92505
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Eric & Janelle Boyenga

Eric & Janelle Boyenga

+1(408) 373-1660
Listed by Tony Lee, DRE #01034072 • Elite Homes Realty
$1,863,000
Est. payment /mo
0.85 Acres Lot
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UPDATED:

Key Details

Property Type Vacant Land

Sub Type Other Residential Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID CROC26147016

Lot Size 0.850 Acres

Property Sub-Type Other Residential Land

Source California Regional MLS

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.

Location

State CA

County Riverside

Area 252 - Riverside

Zoning D6

Exterior

View None

Building

Water District - Public

Others

Tax ID 150091032

Special Listing Condition Not Applicable

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Eric & Janelle Boyenga

Eric & Janelle Boyenga

+1(408) 373-1660

Agent DRE01254724 / 01254725

Agent DRE01254724 / 01254725

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