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8876 Cypress Avenue, Riverside, California 92503, Riverside, 92503 - bed, bath

8876 Cypress Avenue, Riverside, California 92503 home-pic-0
ACTIVE$800,000
8876 Cypress Avenue, Riverside, California 92503
0Bed
0Bath
1,886Sqft
7,405Lot
Year Built
1957
Close
-
List price
$800K
Original List price
$800K
Price/Sqft
$424
HOA
-
Days on market
-
Sold On
-
MLS number
IV25015768
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $800.0K(83th), sqft - 1886(58th), beds - undefined(50th), baths - undefined(50th).

Step into a world of opportunity with this fantastic triplex in the vibrant heart of Riverside, CA! Imagine the charm of cozy units with functional living spaces, practical kitchens, and sunlit rooms – all waiting for your personal touch. With convenient on-site parking and a delightful common outdoor area, this property is perfect for relaxation and entertaining. Located just moments from schools, parks, shopping, and dining, this triplex offers amazing rental income potential. It's the perfect starter home for first-time buyers – live in one unit and watch your investment grow with income from the other two. Add a splash of TLC and a sprinkle of upgrades, and you’ll turn this gem into a dazzling investment! Whether you're an eager investor or a savvy buyer looking for a multi-family gem, this triplex is your golden ticket. Don’t let this opportunity slip away – schedule a viewing today and make your investment dreams come true!

Condition Rating
Poor
Built in 1957, this triplex is significantly aged. The description explicitly states it needs 'a splash of TLC and a sprinkle of upgrades,' indicating substantial work is required. The kitchen, as seen in the images, features visibly old and somewhat damaged dark wood cabinets, dated speckled laminate countertops, and older white appliances, suggesting it hasn't been updated in 30-50 years. While the living areas have laminate flooring and ceiling fans, the overall impression is one of an outdated property. The lack of central HVAC (indicated by visible window/mini-split units) is another major system deficiency. Although the property is functional, it requires significant rehabilitation to meet modern standards and maximize its investment potential, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Multi-Unit Investment: As a triplex, the property offers significant rental income potential, making it an attractive investment for generating passive income.
Owner-Occupant Opportunity: Ideal for first-time buyers, allowing them to live in one unit while renting out the other two, effectively subsidizing their mortgage and building equity.
Prime Location: Located in the 'vibrant heart of Riverside,' with convenient access to schools, parks, shopping, and dining, enhancing tenant appeal and property value.
On-Site Parking: The availability of convenient on-site parking is a valuable amenity for tenants in a multi-unit property.
Common Outdoor Area: A delightful common outdoor area provides shared space for relaxation and entertainment, adding to the property's desirability for renters.

Cons

Age of Property: Built in 1957, the property is older, which may imply outdated systems, potential for deferred maintenance, and higher renovation costs to meet modern standards.
Requires Upgrades/TLC: The description explicitly mentions needing 'a splash of TLC and a sprinkle of upgrades,' indicating immediate capital expenditure will be necessary to maximize its investment potential and rental income.
Basic Unit Condition: Descriptions like 'cozy units with functional living spaces, practical kitchens, and sunlit rooms' suggest basic, un-updated interiors that may not command premium rental rates without significant modernization.

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