Active

421 Devener

Riverside, CA 92507

$1,615,000 $6,808/Mo

Get Pre-Approved Check your credit

Overview

Bed

Bath

5,712

Sqft

14,374.80

Sqft(Lot)

Description

Pleased to exclusively present the opportunity to acquire two side-by-side 4-plex apartment buildings built in 1966 with 5,712 rentable square feet on a 0.33 acre contiguous lot in the City of Riverside. This offering totals eight units and features a highly functional mix of one and two bedroom floor plans. Ideally positioned with convenient access to the I-10, I-215, SR-60, and SR-91 freeways, the property offers residents excellent regional connectivity throughout the Inland Empire. The buildings are equipped with two on-site laundry facilities, wall-mounted air conditioner & heater units. Each unit is individually metered for gas and electricity & have individual hot water heaters. Parking consists of 11 open parking spaces. The property is on septic, with new tank installed in 2025. The electrical panels were also recently updated. The asset presents a value-add opportunity, with the ability to enhance cash flow through rent growth. Additionally, qualified buyers may benefit from the potential availability of 30-year fixed-rate financing, a significant advantage for investors seeking stable, long-term returns on small-balance multifamily assets. Riverside offers a strong and affordable investment backdrop anchored by steady job growth and a diversified employment base. The city is home to University of California, Riverside and benefits from a large public-sector presence tied to Riverside County, healthcare, education, and logistics. Compared to coastal Southern California markets, Riverside remains relatively affordable, supporting continued in-migration and sustained renter demand. Residents enjoy a robust lifestyle and amenity base, including the historic Mission Inn Hotel & Spa, the Fox Performing Arts Center, and outdoor attractions such as California Citrus State Historic Park. With a population of approximately 323,700 and a median household income near $88,600, Riverside’s demographic and economic fundamentals continue to support long-term multifamily ownership. Overall, 421–427 Devener Street represents an attractive opportunity to acquire a centrally located apartment building in Southern California’s most resilient and investor-friendly inland markets.

Property Details

Property Type : Residential Income

Price : $1,615,000

AD Id : 74704131

MLS Id : CV26019708

Lot Size : 14,374.80 Sqft

Living Area Size : 5,712

Year Built : 1966

County : Riverside

Map

What's Nearby

Nearby Areas

Features

Water/Sewer

Water Source: Public Sewer: Septic Type Unknown
Heating Source

None Has Heating

Building Information

Year Built: 1966 Building Area Total: 5,712
Pool Features

None

Laundry Features

Common Area

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.33
Lot Size Source: Public Records Lot Size Square Feet: 14374.8

Listing Price Information

Original List Price: 1,615,000 Listing Contract Date: 2026-01-26
Lease Information

Listing Agreement: Exclusive Right To Sell

Tax Information

Parcel Number: 247081007

Garage and Parking

Garage Description: On Site

Homeowners Association
Rental Info

Lease Term: Negotiable Tenant Pays: Electricity,Gas

Other Property Info

Source Listing Status: Active Source Neighborhood: 252 - Riverside Directions: 421 & 427 Devener Street, Two side-by-side 4-plex apartment buildings Source Property Type: Residential Income Area: 252 - Riverside Property SubType: Apartment
Building and Construction

Property Age: 60 Common Walls: 2+ Common Walls Structure Type: Apartment Year Built Source: Public Records Entry Level: 1 Entry Location: Front Property Attached: Yes Levels or Stories: Two Building Total Stories: 2

Sell a home like this and save $96,401 Find out How

How much is this property worth?

Curious about this home's true market value? Use our free Home Evaluation Tool to instantly get a personalized Comparative Market Analysis (CMA) report. Make smarter, data-driven decisions before you buy.

Loading, please wait...

Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
7102 Olive Grove Street, Riverside, CA, 92507	$499,999	3	2	1,567	1,567 SqFt
7395 Olive Grove St, Riverside, CA, 92507	$407,500	2	2	848	848 SqFt
1195 W Spring Street, Riverside, CA, 92507	$885,000	--	--	3,264	3,264 SqFt
375 Central Avenue #83, Riverside, CA, 92507	$339,000	1	1	740	740 SqFt
1110 W Blaine Street #102, Riverside, CA, 92507	$365,000	2	2	840	840 SqFt
1110 W Blaine #107, Riverside, CA, 92507	$370,000	2	2	840	840 SqFt
585 Via Pueblo, Riverside, CA, 92507	$748,000	3	3	2,336	2,336 SqFt
1136 W Blaine Street #203, Riverside, CA, 92507	$249,000	--	1	489	489 SqFt
5050 Canyon Crest, Riverside, CA, 92507	$440,000	2	2	1,302	1,302 SqFt
1305 Massachusetts #205, Riverside, CA, 92507	$249,000	1	1	640	640 SqFt

Similar Condos To 421 Devener

Nearby For Sale

$339,000

Condo For Sale

375 Central Avenue #83,
Riverside, CA, 92507

Bed

Bath

Sqft

3681 Cranford Avenue,
Riverside, CA, 92507

Sqft

Sqft(Lot)

1480 7th Street,
Riverside, CA, 92507

Sqft

Sqft(Lot)

5555 Canyon Crest #2G,
Riverside, CA, 92507

Bed

Bath

Sqft

Sqft(Lot)

1195 W Spring Street,
Riverside, CA, 92507

3,264

Sqft

9,147.60

Sqft(Lot)

Copyright © 2026 by the Multiple Listing Service of the California Regional MLS®. This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the California Regional MLS®. Information Deemed Reliable But Not Guaranteed. Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited.

ByOwner last updated this listing 06/04/2026 @ 17:27

MLS: CV26019708 LISTED BY: Douglas McCauley, MARCUS & MILLICHAP 909-456-3400 SOURCE: CRMLS