26287 Iris Ave E, Moreno Valley, California 92555, Moreno Valley, 92555 - bed, bath
ACTIVE$1,596,000
26287 Iris Ave E, Moreno Valley, California 92555
0Bed
0Bath
7,830Sqft
Lot
Year Built
2006
Close
-
List price
$1.6M
Original List price
$2.13M
Price/Sqft
$204
HOA
$22,476
Days on market
-
Sold On
-
MLS number
SB25223169
Home ConditionGood
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.60M(67th), sqft - 7830(67th), beds - undefined(33th), baths - undefined(33th).
Do not Disturb Tenants!! Rare opportunity to own four individual condominiums built between 2006-2007, offered together as a unique portfolio. Each condominium has 3 bedrooms with open floorplans, in-unit laundry, HOA Amenities, Central Air/Heat, & two-car garages. The newer construction offers updated systems & energy-efficient features. All properties are in gated communities. 5.01% Cap Rate, 12.62 GRM, $271/sqft. Perfect for investors looking for newer construction, cash-flow, & potential to sell units individually in the future. See attached OM for additional information. See showing remarks for links to virtual tours of all units! -- 26287 Iris Ave #E (APN: 308612036) -- 26335 Iris Ave #D (APN: 308612065) -- 26279 Iris Ave #E (APN: 308612005) -- 15611 Lasselle St #21 (APN: 486561023)
Nearby schools
6/10
Lasselle Elementary School
Public,•K-5•0.4mi
7/10
Victoriano Elementary School
Public,•K-5•0.6mi
6/10
Mary Mcleod Bethune Elementary School
Public,•K-5•1.1mi
3/10
Armada Elementary School
Public,•K-5•1.4mi
4/10
La Jolla Elementary School
Public,•K-5•1.6mi
4/10
Hendrick Ranch Elementary School
Public,•K-5•1.7mi
5/10
Moreno Elementary School
Public,•K-5•2.3mi
4/10
Butterfield Elementary School
Public,•K-5•2.5mi
4/10
Ridge Crest Elementary School
Public,•K-5•2.8mi
5/10
Bear Valley Elementary School
Public,•K-5•3.0mi
3/10
Cloverdale Elementary School
Public,•K-5•3.7mi
5/10
Valley View Elementary School
Public,•K-6•7.8mi
5/10
Clayton A. Record, Jr., Elementary School
Public,•K-5•14.4mi
4/10
Vista Verde Middle School
Public,•6-8•0.7mi
3/10
Landmark Middle School
Public,•6-8•1.4mi
4/10
March Middle School
Public,•6-8•1.8mi
3/10
Mountain View Middle School
Public,•6-8•2.6mi
3/10
Palm Middle School
Public,•6-8•3.9mi
3/10
Mountain Shadows Middle School
Public,•7-8•6.0mi
2/10
Pinacate Middle School
Public,•7-8•8.9mi
4/10
Monte Vista Middle School
Public,•6-8•15.5mi
5/10
Vista Del Lago High School
Public,•9-12•0.7mi
6/10
Rancho Verde High School
Public,•9-12•2.2mi
5/10
Valley View High School
Public,•9-12•2.7mi
6/10
Citrus Hill High School
Public,•9-12•7.7mi
4/10
Heritage High School
Public,•9-12•11.0mi
4/10
San Jacinto High School
Public,•9-12•15.2mi
Price History
Date
Event
Price
12/05/25
Price Change
$1,596,000-1.5%
11/19/25
Price Change
$1,620,000-23.8%
09/24/25
Listing
$2,125,000
Condition Rating
Good
The property was built in 2006, placing it within the 10-20 year age range for a 'Good' condition score. The listing emphasizes 'newer construction' with 'updated systems & energy-efficient features,' 'open floorplans,' 'in-unit laundry,' and 'Central Air/Heat,' indicating that major systems are functional and within their expected lifespan. While interior images of the kitchen and bathrooms are not provided, the overall age and description suggest these areas are contemporary to the build year and well-maintained, requiring no immediate renovation. The exterior images show a well-kept property with minimal wear and tear.
Pros & Cons
Pros
Portfolio Investment Opportunity: Rare chance to acquire four individual condominiums as a single portfolio, offering diversification and the potential to sell units separately in the future.
Modern Construction & Features: Units built between 2006-2007, featuring updated systems, energy-efficient designs, open floorplans, in-unit laundry, central air/heat, and two-car garages.
Strong Cash Flow Potential: Attractive investment metrics with a stated 5.01% Cap Rate and 12.62 GRM, indicating solid income-generating capabilities for investors.
Gated Communities & Amenities: All properties are located within secure gated communities and benefit from HOA amenities, enhancing tenant appeal and property value.
Significant Price Reduction: The property has seen substantial price drops from its original listing, potentially indicating a motivated seller and increased value for the current asking price.
Cons
Tenant Occupancy & Access Restrictions: The 'Do not Disturb Tenants!!' directive suggests limited access for showings, inspections, and appraisals, which can complicate the due diligence process for buyers.
High Association Fees: The stated association fee of $22,476.0 is exceptionally high and requires immediate clarification on its frequency (monthly/annual) and whether it applies per unit or to the entire portfolio, as it significantly impacts net operating income.
History of Price Reductions: Multiple significant price drops from the initial listing price could signal previous overvaluation, market resistance, or potential underlying issues, which may raise buyer caution.