3771 Harvill Lane, Riverside, California 92503, Riverside, 92503 - bed, bath
ACTIVE$1,799,000
3771 Harvill Lane, Riverside, California 92503
0Bed
0Bath
7,340Sqft
10,018Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Diverse Unit Mix: The property offers a desirable mix of 1-bedroom, 2-bedroom, and 3-bedroom units, appealing to a broader tenant demographic and potentially stabilizing rental income.
Top Cons:
Property Age: Built in 1977, the property is nearly 50 years old, which may imply higher ongoing maintenance costs and potential for system upgrades (e.g., plumbing, electrical) in the near future.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1977 (48 years old).
Condition: Built in 1977, this multi-unit property shows its age through dated interior finishes, particularly in the kitchens and bathrooms. While the units appear clean and well-maintained with fresh paint and functional central A/C, the kitchens feature older white appliances, basic laminate countertops, and standard tile flooring. Bathrooms also exhibit older vanities, basic fixtures, and dated light fixtures. The property is functional and move-in ready for tenants but has not undergone a significant modern renovation, indicating a need for cosmetic updates to enhance appeal and align with current styles.
Year Built
1977
Close
-
List price
$1.8M
Original List price
$1.7M
Price/Sqft
$245
HOA
-
Days on market
-
Sold On
-
MLS number
DW25226777
Home ConditionFair
Features
View-
About this home
Exceptional 8-unit 4 (1 bed 1 bath) 2 (2 bed 1 bath) & 2 (3 bed 1 1/2 bath) multifamily property located in the City of Riverside, offering strong rental appeal and desirable amenities. The community features a shared laundry room equipped with an additional water heater, in addition to one main shared water heaters servicing 4 units. The other 4 units have an in-apartment water heater. Each unit is fitted with its own central A/C, providing reliable comfort for tenants. The property also includes 10 garages, plus 4 additional parking spaces offering ample parking options. For added convenience and storage flexibility, there are two on-site storage areas that can be used for maintenance, tenant storage, or rental income potential. This is a rare opportunity to own a well-equipped income-producing property with valuable infrastructure and long-term upside.
Nearby schools
3/10
Phillip M. Stokoe Elementary School
Public,•PK-5•1.5mi
8/10
Lake Hills Elementary School
Public,•K-5•1.7mi
7/10
Corona Ranch Elementary School
Public,•K-6•2.0mi
7/10
Woodrow Wilson Elementary School
Public,•K-6•5.2mi
7/10
Ronald Reagan Elementary
Public,•K-6•6.4mi
5/10
Ysmael Villegas Middle School
Public,•6-8•0.0mi
5/10
Home Gardens Academy
Public,•K-8•1.0mi
7/10
El Cerrito Middle School
Public,•6-8•3.7mi
2/10
Auburndale Intermediate School
Public,•7-8•4.1mi
6/10
Citrus Hills Intermediate School
Public,•7-8•4.8mi
6/10
Hillcrest High School
Public,•9-12•1.3mi
8/10
Centennial High School
Public,•9-12•3.0mi
8/10
Santiago High School
Public,•9-12•4.2mi
Condition Rating
Fair
Built in 1977, this multi-unit property shows its age through dated interior finishes, particularly in the kitchens and bathrooms. While the units appear clean and well-maintained with fresh paint and functional central A/C, the kitchens feature older white appliances, basic laminate countertops, and standard tile flooring. Bathrooms also exhibit older vanities, basic fixtures, and dated light fixtures. The property is functional and move-in ready for tenants but has not undergone a significant modern renovation, indicating a need for cosmetic updates to enhance appeal and align with current styles.
Pros & Cons
Pros
Diverse Unit Mix: The property offers a desirable mix of 1-bedroom, 2-bedroom, and 3-bedroom units, appealing to a broader tenant demographic and potentially stabilizing rental income.
Ample Parking & Garages: With 10 garages and 4 additional parking spaces, the property provides significant parking convenience for tenants, a valuable amenity in multifamily properties.
Individual Central A/C: Each unit is equipped with its own central air conditioning, a key comfort feature that enhances tenant satisfaction and unit desirability, especially in the Riverside climate.
On-site Laundry Facility: A shared laundry room with an additional water heater offers a convenient amenity for tenants and can serve as an additional income stream for the owner.
Additional On-site Storage: Two dedicated on-site storage areas provide flexibility for maintenance, tenant storage, or potential for generating extra rental income, adding value to the property.
Cons
Property Age: Built in 1977, the property is nearly 50 years old, which may imply higher ongoing maintenance costs and potential for system upgrades (e.g., plumbing, electrical) in the near future.
Split Water Heater System: The mixed water heater setup (one shared for 4 units, individual for the other 4) could lead to complexities in maintenance, utility billing, and potential tenant disputes or dissatisfaction.
Lack of Financial Transparency: While described as 'income-producing,' the listing lacks specific details on current rental income, occupancy rates, or operating expenses, which are crucial for a comprehensive investor evaluation.