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5111 La Sierra Avenue, #3

Riverside, CA 92505

PRICE REDUCED

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-$108,888 (-8.45%)

$1,180,000

List Price

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bed Beds

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1948

calendar_month Built

Property Description

Truly great investment opportunity! 3 separate units, each has its own street address! 4 buildings, total 3,655sf living space and a huge 42,253sf flat lot! Huge development opportunities! There are 3 water meters, 3 gas meters, 3 electric meters; each unit pays all of its own utilities! Each unit has its own trash account and each tenant even pays its own trash bill! A huge saving for the Landlord here, more money in the Landlord’s pocket. Front unit is located at the corner of La Sierra Ave and Norwood Ave directly across a Seven and Eleven with a 100.17ft frontage! Buyer could investigate re-zoning possibility making this corner lot a much more valuable commercial zone. Conveniently located one small block north of The 5 Point approximately 1/2 mile from the La Sierra University, walkable distance to the La Sierra High School, and only short minutes’ drive to Galleria at Tyler, AMC 16, restaurants, entertainment centers and the Castle Park. Each unit has its laundry hookup and garage, total 6 garage parking with at least 20+ extra on property parking spaces, each unit even has its front lawn and back yard. (some garages might have been converted). Unit 11035 Norwood has a brand new roof installed in 2024! Unit 11059 Norwood Ave has new major pumping work done this year in 2024! It also has a new wood fence installed in 2022. There is a 4th building where an occupant that have been living there for 25+ years has just vacated!!! An additional opportunity. The huge 266.63ft deep lot with 42,253sf flat usable area is the game changer and a huge development opportunity. Call today and do not miss this truly great investment opportunity!!

Listing Information

List Price $1,180,000
Status Active
MLS TR24165230
HOA $0
Type Residential Income
Subtype Triplex
Year Built 1948
Lot Size 42,253
Structure Size N/A
DOM 41
Courtesy Of Keller Williams Signature Realty
Listing Agent Tony Lam DRE#01944496

Interior Features

Laundry Information
Location(s) Inside
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Additional Information
Additional Features All Bedrooms Down
Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

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king_bed N/A
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shower N/A
straighten N/A
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Listing information courtesy of: Tony Lam, Keller Williams Signature Realty . *Based on information from the Association of REALTORS/Multiple Listing as of Oct 13th, 2024 at 1:23 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.