
Moreno Valley, California 92557
This Triplex Residential Income Asset is a High-Potential Investment Opportunity, listed at $729,500—positioned well below the $726,891 Fair Market Value (priced at market stability). Featuring a 19,602 sqft lot and 4th unit conversion potential, the property maintains a Fair Condition Rating with recent capital improvements including a 2023 roof and 2022 mini-splits. With below-market rents and a prime location near new retail, this property offers significant upside for forced appreciation. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 24380 Ironwood Subject | $729,500* List Price | 0 | 0 | 2,150 | $338 | - |
A 11939 Indian Active | $639,000 List Price | 0 | 0 | 1,906 | $335 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
While the property is over 70 years old, it has been well-maintained with significant recent updates including a new roof (2023), mini-splits (2022), and fresh paint. However, the interior remains dated with older wall heaters and windows, placing it in the 'Fair' category as it is functional but needs modernization.
The property sits on a massive 19,602 sqft lot with below-market rents and a detached garage primed for conversion into a 4th unit, offering significant upside for equity growth and increased cash flow.
Major high-ticket items have been recently addressed, including a new roof (2023), mini-split HVAC units (2022), and a new water heater (2021), reducing immediate deferred maintenance for the buyer.
Located in a desirable area north of the 60 freeway and just a block from new major retail developments like Sprouts and Starbucks, ensuring strong future tenant demand and property appreciation.
Originally built in 1949, the property may possess older plumbing or electrical components typical of its era that could require modernization beyond the recent cosmetic and roof upgrades.
Existing rents are currently below market value, which may result in a lower initial cap rate and tighter debt-coverage ratios for investors during the acquisition phase.
Pride of ownership triplex on a large lot in growing area of Moreno Valley. New Sprouts, Starbucks and more just opened a block away. Triplex consists of a 2 bed, 1 bath front house, and two 1 bed, 1 bath units in the back. Potential for detached garage to be converted into a 4th unit. All units have their own garage. New roof installed in 2023. Property has long-term, reliable tenants that are all month to month. Unit #82 could be available for owner-user to move in. Rents are below market and provide an opportunity for an investor to increase rents or for someone to move into one of the units and make rental income off of the other units to offset the mortgage. Plenty of space for parking or even adding an additional unit. Property has been well maintained by property owner. Great location north of the 60 freeway. Short distance to Riverside, Ontario, Palm Springs, etc. Other recent upgrades include: Mini splits for back units in 2022, exterior of the house was painted back in 2020, interiors were painted within the last 5 years, new roof in 2023, new front house water heater in 2021, new wood fence along back of property, separating backyards in 2023. Buyer to complete their own due diligence.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1949 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Jun 1, 2026
$729,500
Initial Listing
Aug 7, 2015
$165,000
Public Record