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    3985 Kansas Avenue

    Riverside, CA 92507
    • $719,890
    • STATUS: Active
    • ON SITE: 43 days
    • ID#: IV21064140
    Price Reduced
    UPDATED: 74 min ago
    $719,890
    • 0
      BEDS
    • 0.18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,966
      SQFT
    • $243
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1946
    County:

    School Ratings & Info

    Description

    Income opportunity ~ NO RENT CONTROL. Agents; please share PDF file under supplements in MLS with units' drafted lay-out and share with your clients to better understand the structures. These three units in the Heart of #RiversideCalifornia : 3985, 3983 & 3981 Kansas Avenue, Riverside Ca. 92507. 1ST UNIT: 3985 Kansas Ave. has 3 bedroom (Plus a bonus 4th bedroom) 2 bathrooms and measures 1,283 square feet (THIS IS THE CORNER UNIT WHICH IS IN GOOD CONDITIONS BUT HAS NOT BEEN RECENTLY RENOVATED); 2ND UNIT: 3983 Kansas Ave. has 2 bedrooms and 1 bathroom and measures 873 square feet. This unit offers new laminate, tile and carpet flooring, new windows, new electrical with recess lighting and fixtures, new bathrooms, new kitchen, new plumbing & drains, new fence in the rear and the side, new closets and termite has been completed; 3981 Kansas Ave. has 2 bedroom, 2 bathrooms and measures 873 as well (THIS UNIT HAS JUST BEEN RENOVATED AS WELL). This is a central location across the street from Bobby Bonds Park & Cesar Chavez Center, conveniently situated between the 91 and 60 freeways and a very short drive to RCC and UCR. Property has great long term tenants with impecable record. Immediate cap rate increase to 6.5% when rents become adjusted to current fair market. Corner house can rent for $2,100.00 P/M; the 2nd unit with 2be/1ba can rent for $1,450.00 & the 2be/2ba unit may rent for $1,550.00 "No rent control" Great opportunity. BUYER TO ASSUME TENANTS. Seller recently signed a one year lease until April 2022 which is when rents can be increase again.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-10T13:36:20.187. 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 deemed reliable but is not guaranteed accurate by the MLS or Compass. Licensed in the State of California, USA.
    www.sandiegohomesdirect.com/homes/115534073
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    3985 Kansas Avenue Riverside, CA 92507

    • Price: $719,890
    • Status: Active
    • Updated: 74 min ago
    • ID#: IV21064140
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.18
    Acres
    2,966
    SQFT
    $243
    $/SQFT
    1946
    Built
    Neighborhood:
    252 - Riverside
    County:
    Riverside
    Area:
    252 - Riverside
    Property Description
    Income opportunity ~ NO RENT CONTROL. Agents; please share PDF file under supplements in MLS with units' drafted lay-out and share with your clients to better understand the structures. These three units in the Heart of #RiversideCalifornia : 3985, 3983 & 3981 Kansas Avenue, Riverside Ca. 92507. 1ST UNIT: 3985 Kansas Ave. has 3 bedroom (Plus a bonus 4th bedroom) 2 bathrooms and measures 1,283 square feet (THIS IS THE CORNER UNIT WHICH IS IN GOOD CONDITIONS BUT HAS NOT BEEN RECENTLY RENOVATED); 2ND UNIT: 3983 Kansas Ave. has 2 bedrooms and 1 bathroom and measures 873 square feet. This unit offers new laminate, tile and carpet flooring, new windows, new electrical with recess lighting and fixtures, new bathrooms, new kitchen, new plumbing & drains, new fence in the rear and the side, new closets and termite has been completed; 3981 Kansas Ave. has 2 bedroom, 2 bathrooms and measures 873 as well (THIS UNIT HAS JUST BEEN RENOVATED AS WELL). This is a central location across the street from Bobby Bonds Park & Cesar Chavez Center, conveniently situated between the 91 and 60 freeways and a very short drive to RCC and UCR. Property has great long term tenants with impecable record. Immediate cap rate increase to 6.5% when rents become adjusted to current fair market. Corner house can rent for $2,100.00 P/M; the 2nd unit with 2be/1ba can rent for $1,450.00 & the 2be/2ba unit may rent for $1,550.00 "No rent control" Great opportunity. BUYER TO ASSUME TENANTS. Seller recently signed a one year lease until April 2022 which is when rents can be increase again.
    Exterior Features

    Lot Features Corner Lot Number Of Separate Electric Meters 3 Parking Features None Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Appliances DishwasherGas RangeMicrowaveWater Heater Common Walls 1 Common Wall Fireplace Features None Fireplace YN No Flooring CarpetLaminate Heating Wall Furnace Heating YN Yes Interior Features All Bedrooms Down

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Common Interest None Community Features BikingCurbsParkStreet LightsSidewalks Contingency None: Drive By For Now Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 0 Gross Scheduled Income 0 Insurance Expense 0 Land Lease YN No Laundry Features Inside Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional Net Operating Income 0 New Construction YN No New Taxes Expense 0 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 2 Number Of Units Leased 3 Operating Expense 0 Property Condition Turnkey Property Sub Type Triplex Rent Control YN No Senior Community YN No Sewer Sewer Tap Paid Special Listing Conditions Standard Tenant Pays All Utilities Total Actual Rent 3300 Trash Expense 0 Water Sewer Expense 0 Water Source Public Zoning R2

    Listing provided courtesy of Michael Nugent of Realty Masters & Associates


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-10T13:36:20.187. 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 deemed reliable but is not guaranteed accurate by the MLS or Compass. Licensed in the State of California, USA.
     
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    617 Saxony Place #101
    Encinitas CA, 92024