2029 Patterson Street
$1,219,000
7
6
2,961
2,961
$412
Description
Whether you're an investor or a buyer seeking a multi-unit property to live in while generating rental income, this is an opportunity you won’t want to miss. The potential for house hacking is enormous—live in one of the units while collecting rents from the others, or enjoy the steady, reliable income stream as an investor. Not only can you build an additional 3 units on the property, the property also generates a strong net operating income (NOI) of $88,371 annually, making it a high-yield investment...Whether you're an investor or a buyer seeking a multi-unit property to live in while generating rental income, this is an opportunity you won’t want to miss. The potential for house hacking is enormous—live in one of the units while collecting rents from the others, or enjoy the steady, reliable income stream as an investor. Not only can you build an additional 3 units on the property, the property also generates a strong net operating income (NOI) of $88,371 annually, making it a high-yield investment with exceptional growth potential in a booming area. With a cap rate of 7.2% , this property represents a highly attractive opportunity for anyone looking to capitalize on Riverside's growing real estate market. This exceptional triplex is a rare gem in Riverside, offering a prime opportunity for both savvy investors and buyers looking to house hack. Situated just minutes away from the 91 and 215 freeways, as well as the vibrant Downtown Riverside area, this property offers unrivaled access to major commuter routes and city amenities. Riverside City College, the University of California Riverside (UCR), California Baptist University, shopping, dining, and entertainment options are a few minutes away, this location is truly at the heart of it all. The property features three distinct units, each with unique potential. One of the detached units is a brand-new construction, offering 3 spacious bedrooms, 2.5 bathrooms with a 2-car garage. At 1,199 sqft, this beautiful home is fully independent, with its own separate utilities. The other two units are well-maintained, recently remodeled and offer a combined mix of 3-bedroom, 2-bathroom (1,162 sqft) and 1-bedroom, 1-bathroom (600 sqft) units, both sharing utilities. Both occupied units are on a month to month lease. With a huge lot measuring 13,068 sqft, the property offers plenty of space for potential future improvements or expansion. A great opportunity as The city will allow you to build an additional 3 units on this property. Whether you're looking for the perfect place to live or a solid, income-generating investment, this property checks all the boxes. Don’t let this once-in-a-lifetime opportunity slip away. Make your move today!
- Listed by Gerardo Garcia Macias • DRE #02105347 • Brokerage DRE #02096423 • KASE Real Estate • 949-867-0007
Property Details for 2029 Patterson Street
Parking Spaces Total
6
Private PoolNo
Total Units3.0
Building TypeDetached
Lot Size SourceAssessor
Living Area2961
Assessor Parcel Number211-111-050
Property Attached YNfalse
LISTING UPDATED: 12/22/2024 01:54 AM
Property Details for 2029 Patterson Street
Status | Active |
---|---|
MLS # | DW24239040 |
Days on Market | 34 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 2024 |
Lot Size | 0.30 AC / 13,068 SF |
County | Riverside County |
Building Information for 2029 Patterson Street
Stories2Residences-Year Built2024Building Size-Lot Size0.30 AC / 13,068 SF
Property Information for 2029 Patterson Street
Property History for 2029 Patterson Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2029 Patterson Street
Taxable ValueLand$163,200Additions$489,600Total$652,800
Tax Record2024$7,209 ($601 / month)
Home Facts
Beds3Baths1.8Total Finished SqFt1,762 SqFtAbove Grade Finished SqFt1,762 SqFtStories2Lot Size13,068 SqFtStyleSingle Family ResidenceYear Built1916ZoningR3CountyRIVERSIDEAPN211-111-050Fireplace TypeHas Fireplace
Schools near 2029 Patterson Street
This home is within Riverside Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 7 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Longfellow Elementary School PublicK to 6 | ||
University Heights Middle School Public7 to 8 | ||
John W. North High School Public9 to 12 | ||
Abraham Lincoln Continuation School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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