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Arash Rokni

arash@roknigroup.com +1(619) 762-0777

$1,549,000

Est. payment - /mo

4 Beds

4 Baths

0.33 Acres Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID CV26019708

Bedrooms 4

Lot Size 0.330 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

ACTUAL 7.18% CAP RATE! Pleased to exclusively present the opportunity to acquire two side-by-side 4-plex apartment buildings located at 421 & 427 Devener Street, built in 1966 with 5,712 rentable square feet on a 0.33 acre contiguous lot in the City of Riverside. This offering totals eight units and features a highly functional mix of one and two bedroom floor plans. Ideally positioned with convenient access to the I-10, I-215, SR-60, and SR-91 freeways, the property offers residents excellent regional connectivity throughout the Inland Empire. The buildings are equipped with two on-site laundry facilities, wall-mounted air conditioner & heater units. Each unit is individually metered for gas and electricity & have individual hot water heaters. Parking consists of 11 open parking spaces. The property is on septic, with new tank installed in 2025. The electrical panels were also recently updated. The asset presents a value-add opportunity, with the ability to enhance cash flow through rent growth. Additionally, qualified buyers may benefit from the potential availability of 30-year fixed-rate financing, a significant advantage for investors seeking stable, long-term returns on small-balance multifamily assets. Riverside offers a strong and affordable investment backdrop anchored by steady job growth and a diversified employment base. The city is home to University of California, Riverside and benefits from a large public-sector presence tied to Riverside County, healthcare, education, and logistics. Compared to coastal Southern California markets, Riverside remains relativel

Location

State CA

County Riverside

Zoning Public Rec

Direction 421 & 427 Devener Street, Two side-by-side 4-plex apartment buildings

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 247081007

Acceptable Financing Cash

Listing Terms Cash

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Listed by Douglas McCauley • MARCUS & MILLICHAP
Co-listed byDavid Covarrubias • MARCUS & MILLICHAP

Nearby School & Business

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Arash Rokni

REALTOR® CADRE#02005305

+1(619) 762-0777 | arash@roknigroup.com

San Diego Communities

421 Devener Riverside, CA 92507

Arash Rokni

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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