3633 Kansas Avenue,Riverside, CA 92507
Riverside, CA 92507
Description
RARE opportunity to own a beautifully updated triplex in the heart of Riverside offering immediate cash flow, exceptional upside, and a unique path to owner occupancy.One unit is currently vacant, creating an ideal opportunity for an owner-occupant to move in and potentially take advantage of owner-occupied financing options, including FHA financing for qualified buyers (buyer to verify with lender), while collecting rental income from the remaining units to help offset monthly housing costs. This is an excellent opportunity for buyers looking to build wealth through 'house hacking.'The property last generated approximately $64,704 in annual income with all three units occupied, with the potential to increase to approximately $85,704 annually through the included architect-prepared, city-approved ADU plans utilizing the existing detached garage (buyer to verify), creating a straightforward path to adding a fourth income-producing unit.Situated on two contiguous parcels totaling approximately 0.33 acres, this investment has undergone extensive recent improvements, including a new roof, complete unit renovations in 2023, fresh interior and exterior paint, and completed termite work, providing a low-maintenance ownership experience.The property features three well-designed units, ample on-site parking, and a detached garage assigned to the larger unit. Tenants pay gas, electricity, and trash, while owner expenses are limited to water and landscaping, contributing to strong operating margins.Ideally located just minutes from UC Riverside, Riverside City College, Downtown Riverside, and convenient access to the 60, 91, and 215 freeways, this property appeals to both seasoned investors and owner-occupants seeking rental income with long-term appreciation potential.Whether you're looking for a strong performing investment or the opportunity to live in one unit while your tenants help pay the mortgage, this property offers flexibility that is increasingly difficult to find.Drive-by only. Please do not disturb tenants. Interior inspection subject to an accepted offer.
Details
| MLS # | P1-26538 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1907 |
| Days On Site | 211 |
| Listing Provided By | Douglas Elliman of Ca Inc | Meha Chopra |
Features
| SQ Feet | 2,008 |
|---|---|
| Garage | 2 |
| Story(s) | 2 |
| Units | 3 |
| Building(s) | 3 |
| Acreage | 0.33 |
| Property View | None |
Interior
| Cooling | None |
|---|---|
| Heating | Fireplaces |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
| Interior Features | Ceiling Fans, Storage, Tile Counters, Bedroom On Main Level |
| Appliances | Electric Range, Gas Range, Microwave, Refrigerator, Water Heater |
| Fireplace Yes / No | Yes |
Exterior
| Roof | Shingle |
|---|---|
| Security Features | Carbon Monoxide Detectors, Smoke Detectors, Security Lights |
| Foundation Details | Concrete Perimeter |
| Lot Features | Zero To One Unit Acre, Back Yard, Landscaped, Near Public Transit, Rocks, Yard |
| Fencing | Good Condition, Wire |
Parking
| Parking Features | Driveway, Garage, On Street |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Riverside |
| City | Riverside |
| Zip Code | 92507 |
| Area | 252 Riverside |
| Community Name | Not Applicable |
| Listing VS Median (in Not Applicable) | |
Price: $948,000 low | high Med: $9,000 sqft: 2,008 low | high Med: 2,421 $ / sqft: $472 low | high Med: $4 On site: 211 low | high Med: 12 | |
Market Activity 92507
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Learn More About This Property
| State | CA |
|---|---|
| County | Riverside |
| City | Riverside |
| Zip Code | 92507 |
| Area | 252 Riverside |
| Community Name | Not Applicable |
| Listing VS Median (in Not Applicable) | |
Price: $948,000 low | high Med: $9,000 sqft: 2,008 low | high Med: 2,421 $ / sqft: $472 low | high Med: $4 On site: 211 low | high Med: 12 | |
