3469 Lime St, Riverside, CA 92501
3469 Lime St, Riverside, CA 92501
3469 Lime St, Riverside, CA 92501
8
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$1,075,000
Est. payment /mo
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5 Beds
5 Baths
2,056 SqFt
Active Under Contract

3469 Lime St Riverside, CA 92501

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Jasmin Conner

Jasmin Conner

+1(310) 628-4801

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Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 2,056 sqft

Price per Sqft $522

MLS Listing ID 25621531

Bedrooms 5

Year Built 1986

Lot Size 3,920 Sqft

Acres 0.09

Property Sub-Type Multi-Family

Property Description

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.

Location

State CA

County Riverside

Area Riverside

Zoning R3

Rooms

Other Rooms Other

Interior

Heating Other

Cooling Other

Equipment Other

Exterior

Parking Features Other

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

NEARBY SCHOOL & BUSINESS

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Jasmin Conner

Jasmin Conner

Agent | License ID: 02189536

+1(310) 628-4801

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3469 Lime St