Riverside, CA 92501,3469 Lime ST
Riverside, CA 92501,3469 Lime ST
Riverside, CA 92501,3469 Lime ST
9
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$1,075,000
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5 Beds
5 Baths
2,056 SqFt
Active

3469 Lime ST Riverside, CA 92501

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Christian Van't Vlie

Christian Van't Vlie

+1(619) 894-9153

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 2,056 sqft

Price per Sqft $522

MLS Listing ID 25621531

Bedrooms 5

HOA Y/N No

Year Built 1986

Lot Size 3,920 Sqft

Property Description

We are pleased to present 3469 Lime Street, a five-unit apartment property located just steps from the heart of Downtown Riverside and only 0.4 miles from the Mission Inn. Priced at $1,075,000, or $215,000 per unit, the offering provides investors with stable income and a favorable day-one cap rate. The property consists of five one-bedroom, one-bath units. The lower units feature private patio areas, while the upper units offer individual balconies, enhancing tenant appeal and supporting long-term retention. Built in 1986 on a 3,920 square foot lot, the property delivers comfortable and well-located housing in a walkable neighborhood close to Riverside's dining, retail, and cultural amenities. Its proximity to Downtown Riverside and the Mission Inn District drives consistent demand for smaller units, contributing to strong occupancy and reliable cash flow. Based on the current rent roll of $7,454 and the pro forma rent roll of $8,975, the property offers an immediate $1,521monthly upside, representing a 20.41% increase from existing income levels. In addition to this current upside, an owner who chooses to issue allowable rent increases under AB 1482 can further improve returns. With the ability to raise rents by up to 7.5%, investors can increase income within the first few months of ownership, elevating the projected cap rate to 6.15%. 3469 Lime Street presents an excellent opportunity to acquire a Downtown Riverside asset with private outdoor spaces, strong tenant demand drivers, and clear income growth supported by both existing upside and allowable rent adjustments.

Location

State CA

County Riverside

Area 252 - Riverside

Zoning R3

Interior

Fireplace No

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 213171021

Special Listing Condition Standard

CRMLS – RECore
Listed by Oscar Diaz Marcus & Millichap

NEARBY SCHOOL & BUSINESS

SCHOOLSPROPERTIES
Elementary Schools 20
  • 7

    Pachappa Elementary School

    Public | KG - 6

  • 7

    Riverside Virtual

    Public | KG - 12

  • 6

    Madison Elementary School

    Public | KG - 6

  • 6

    Magnolia Elementary School

    Public | KG - 6

  • 6

    Reach Leadership Academy

    Public | KG - 6

  • 5

    Bryant Elementary School

    Public | KG - 6

  • 5

    Patricia Beatty Elementary School

    Public | KG - 6

  • 5

    Alcott Elementary School

    Public | KG - 6

  • 5

    Fremont Elementary School

    Public | KG - 6

  • 5

    Longfellow Elementary School

    Public | KG - 6

  • 5

    Emerson Elementary School

    Public | KG - 6

  • 4

    Victoria Elementary School

    Public | KG - 6

  • 4

    Highgrove Elementary School

    Public | KG - 6

  • 3

    Central Middle School

    Public | 5 - 8

  • 1

    Ina Arbuckle Elementary School

    Public | KG - 6

  • 1

    California School for the Deaf-Riverside

    Public | KG - 12

  • 1

    Riverside County Special Education

    Public | KG - 12

  • 1

    Highland Elementary School

    Public | KG - 6

  • 0

    Growing Place

    Private | PK - KG

  • 0

    Riverside Montessori Academy

    Private | PK - 4

Middle Schools 5
  • 5

    Matthew Gage Middle School

    Public | 7 - 8

  • 4

    Sierra Middle School

    Public | 7 - 8

  • 4

    University Heights Middle School

    Public | 7 - 8

  • 0

    Riverside County Community

    Public | 7 - 12

  • 0

    Opportunity Program

    Public | 7 - 12

High Schools 12
  • 6

    Polytechnic High School

    Public | 9 - 12

  • 5

    Ramona High School

    Public | 9 - 12

  • 5

    Grand Terrace High School at The Ray Abril Jr. Educational Complex

    Public | 9 - 12

  • 4

    John W. North High School

    Public | 9 - 12

  • 1

    Gateway College and Career Academy

    Public | 10 - 12

  • 1

    Come Back Kids

    Public | 9 - 12

  • 0

    Notre Dame High School

    Private | 9 - 12

  • 0

    Gateway to College Early College High School

    Public | 9 - 12

  • 0

    Riverside County Regional Occupational Program

    Public | 9 - 12

  • 0

    Raincross High (Continuation)

    Public | 9 - 12

  • 0

    Abraham Lincoln Continuation

    Public | 9 - 12

  • 0

    Oxford-Riverside Academy

    Private | 9 - 12

School and business data provided by Attom Data.

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Christian Van't Vlie

Christian Van't Vlie

Broker Associate | License ID: 01397386

+1(619) 894-9153

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3469 Lime ST