About This Home
This 2-bedroom, 2-bathroom multi-family at 3080 Elgin Drive in Riverside, CA is listed for $1,030,000. Built in 1964, on a 0.15 acres lot.
Key Features
- Built in 1964
- 0.15 acre lot
- 2 stories
- 8 parking spaces
- Fireplace
Property Details
Amenities
We are pleased to present 3080 Elgin Drive, a four-unit multifamily investment located in Riverside's University submarket, approximately two blocks from the University of California, Riverside (UCR). First offered for sale in 38 years, the property provides an investor with a rare opportunity to acquire a well-located asset with significant upside.
The property consists entirely of 2BR / 1.5BA townhouse style units averaging approximately 1,050 square feet. Amenities include detached garages, private patios, on-site laundry and access to a common area pool. Gas and electricity are individually metered.
Current scheduled rents range from $1,200 to $1,700 per month versus provided market-rent assumptions upwards of $2,375 per unit. The underwriting reflects scheduled rent growth from $69,600 to $114,000 and NOI growth from $41,457 to $84,525, creating a compelling value-add opportunity for an investor focused on long-term income growth.
The location benefits from proximity to UCR, a growing student population and convenient regional connectivity via I-215, SR-60 and SR-91, supporting rental demand from students, families and working professionals alike.
Monthly Cost Estimate
$6,209/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
3080 Elgin Drive
Riverside, CA 92507
Property Details
Cooling
Questions & Answers
This 2-bedroom, 2-bathroom multi-family at 3080 Elgin Drive is listed at $1,030,000. The estimated monthly payment is $6,208 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance, HOA fees.
HOA fees are $700/month.
Key features include: Built in 1964, 0.15 acre lot, 2 stories, 8 parking spaces, Fireplace.
This property is listed by Sean Hwangbo and can be reached at 6266797947.
