Keegan Cin | Realtor® | License # DRE 01971604

Property

Riverside, CA 92507 2029 Patterson Street

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Presented By: Gerardo Garcia Macias with Pak Home Realty; 949-867-0007
  • MLS# DW25074095
  • 04/04/2025
  • Request Tour
  • Request Info
  • Beds • 7
  • Full/Half Baths • 5 / 1
  • SQFT • 2,961
  • Garage • 2
  • Year Built • 2024

Home Details

This property presents itself as an exceptional opportunity in Riverside’s thriving real estate market, offering a rare combination of immediate income and long-term growth potential. Whether you're an experienced investor or a savvy homebuyer looking to make a smart move, this multi-unit property has everything you need to succeed. With its prime location, strong rental history, and future expansion possibilities, it’s an opportunity you won’t want to miss. The property features three distinct units, each offering its own unique appeal. One standout is the brand-new, detached unit—a spacious 3-bedroom, 2.5-bathroom home with a 2-car garage, separate utilities, and separate address. This newly constructed 1,199 sqft home provides the perfect blend of comfort and independence, making it ideal for a homeowner or tenant. The other two units have been recently remodeled, with one offering a 3-bedroom, 2-bathroom layout and the other a 1-bedroom, 1-bathroom unit. Both are well-maintained and thoughtfully updated, featuring a 6 year old roof, PEX Plumbing, an updated Dual Electric Panel, and a Brand new Gas line. Both units offer a mix of spaciousness and charm. The two occupied units share utilities, providing efficiency while maintaining privacy for each tenant. Set on a generous **13,068 sqft lot**, this property offers a wealth of potential for further growth and to potentially build more units. With a **cap rate of 7.27%**, the property already offers strong returns, but the possibility of increasing income through development makes it an even more exciting investment. Riverside’s location adds another layer of appeal. Just minutes from the 91 and 215 freeways, as well as the vibrant Downtown Riverside, this property offers easy access to major commuter routes, shopping, dining, and entertainment. With local institutions like Riverside City College, UC Riverside, and California Baptist University nearby, demand for rental properties in this area is only expected to increase, making this an even more enticing opportunity. Whether you’re looking for a home with income-generating potential or an investment property with substantial upside, this Riverside gem has it all. With a combination of prime location, solid cash flow, and exciting future prospects, this opportunity won’t last long. Make your move today and seize the chance to be a part of Riverside’s flourishing real estate market.*Grass was added onto the images virtually to enhance the property images*
Presented By: Gerardo Garcia Macias with Pak Home Realty; 949-867-0007

Interior Features for 2029 Patterson Street

Other Interior Features

Air Conditioning Y/NYes
Basement (Y/N)Yes
Common WallsOneCommonWall
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesInside, LaundryRoom
Total Stories2

Other Rooms

Entry Level1

General for 2029 Patterson Street

Additional Parcels Y/NNo
AppliancesGasRange
Attached Garage No
Building Area UnitsSquareFeet
Carport Y/NNo
CityRiverside
Community FeaturesSidewalks
CoolingCentralAir
CountyRiverside
Directionsleft side of patterson st
ElectricVolts220
Electric Expense4800.0
Electric On Property Y/NNo
Entry Locationfront gate
Fuel Expense480.0
Garage Spaces2.0
Garage Y/NYes
Gross Income97200.0
HOANo
HeatingCentral
Home Warranty Y/NNo
Insurance Expense2400.0
Interior FeaturesOpenFloorplan, Pantry, Attic, PrimarySuite, WalkInClosets
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan, Conventional, FHA, Submit, VaLoan
Lot Size Square Feet13068.0
Lot Size UnitsSquareFeet
MLS Area252 - Riverside
MobileHomeRemainsYNNo
Net Operating Income85491.0
New ConstructionNo
Number Of Units Total3
Operating Expense11709.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalTriplex
Property SubtypeTriplex
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tax Lot17
Trash Expense1200.0
UtilitiesElectricityConnected, NaturalGasConnected, PhoneConnected, SewerAvailable, SewerConnected, WaterConnected
ViewNone
Water Sewer Expense1869.0
Waterfront Y/NNo
Year Built2024
Year Built SourceAssessor
ZoningR3

Exterior for 2029 Patterson Street

Building Area Total2961.0
Crops Included Y/NNo
FencingBrick
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesTwoToFiveUnitsAcre
Lot Size Acres0.3
Lot Size Area13068.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters2
Number of Separate Gas Meters2
Number of Separate Water Meters2
Open Parking Y/NNo
Parking FeaturesAssigned
Private PoolNo
SpaNo
Total Parking2.0
Water SourcePublic

Additional Details

Price History

Alexandra Eston

Sales Associate
Price $1,175,000
MLS#DW25074095
List Date 04/04/2025
Property Type Multi-Family
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