2029 Patterson Street, Riverside, CA, 92507

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$1,219,000
30 Days On Site

2029 Patterson Street
Riverside, CA 92507

For Sale|Triplex|Active
0
Beds
0
Full Baths
0
Partial Baths
2,961
SqFt
$412
/SqFt
2024
Built
County:
Riverside
Listed by Gerardo Garcia Macias of KASE Real Estate [email protected]
Call Now: 909-750-0222
Is this the home for you? We can help make it yours.
909-750-0222
2029 Patterson Street2029 Patterson Street2029 Patterson Street2029 Patterson Street
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Whether you're an investor or a buyer seeking a multi-unit property to live in while generating rental income, this is an opportunity you won’t want to miss. The potential for house hacking is enormous—live in one of the units while collecting rents from the others, or enjoy the steady, reliable income stream as an investor. Not only can you build an additional 3 units on the property, the property also generates a strong net operating income (NOI) of $88,371 annually, making it a high-yield investment with exceptional growth potential in a booming area. With a cap rate of **7.1%**, this property represents a highly attractive opportunity for anyone looking to capitalize on Riverside's growing real estate market. This exceptional triplex is a rare gem in Riverside, offering a prime opportunity for both savvy investors and buyers looking to house hack. Situated just minutes away from the 91 and 215 freeways, as well as the vibrant Downtown Riverside area, this property offers unrivaled access to major commuter routes and city amenities. Riverside City College, the University of California Riverside (UCR), California Baptist University, shopping, dining, and entertainment options are a few minutes away, this location is truly at the heart of it all. The property features three distinct units, each with unique potential. One of the detached units is a brand-new construction, offering 3 spacious bedrooms, 2.5 bathrooms with a 2-car garage. At 1,199 sqft, this beautiful home is fully independent, with its own separate utilities. The other two units are well-maintained, recently remodeled and offer a combined mix of 3-bedroom, 2-bathroom (1,162 sqft) and 1-bedroom, 1-bathroom (600 sqft) units, both sharing utilities. Both occupied units are on a month to month lease. With a huge lot measuring 13,068 sqft, the property offers plenty of space for potential future improvements or expansion. A great opportunity as The city will allow you to build an additional 3 units on this property. Whether you're looking for the perfect place to live or a solid, income-generating investment, this property checks all the boxes. Don’t let this once-in-a-lifetime opportunity slip away. Make your move today!

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Listing Snapshot
Price 
$1,219,000
Days On Site 
30 Days
Bedrooms 
N/A
Inside Area (SqFt) 
2,961 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.3 Acres
Year Built 
2024
MLS® Number 
DW24239040
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
2 weeks agoPrice changed to $1,219,000
2 weeks agoListing updated with changes from the MLS®
4 weeks agoStatus changed to Active
a month agoListing first seen on site
General Features
Acres 
0.3
Garage 
Yes
Garage Spaces 
2
Number Of Stories 
2
Parking Spaces 
6
Property Sub Type 
Triplex
Sewer 
Public Sewer
Special Circumstances 
Standard
SqFt Total 
2961
Stories 
Two
Water Source 
Public
Zoning 
R3
Interior Features
Heating 
Central
Laundry Features 
InsideLaundry Room
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Exterior Features
Pool Features 
None
Community Features
Building Access 
front door
Community Features 
CurbsSidewalks
Financing Terms Available 
CashConventionalFHASubmitVA Loan
MLS Area 
252 - Riverside


This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
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