Under Contract

3469 Lime Street

Riverside, CA 92501
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Bed 5

Bed

Bath 0

Bath

SqFt2,056

Sqft

SqFt3,920

Sqft(Lot)

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 sm aller 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.

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Detail Ic Property Details

Property Type : Residential Income

Price : $1,075,000

AD Id : 69203079

MLS Id : 25621531

Beds : 5

Lot Size : 3,920 Sqft

Living Area Size : 2,056

Year Built : 1986

County : Riverside

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Feature Features

  • Bedroom Information

    Total Bedrooms: 5

    Bathroom Information

    Total Baths: 5 Full Baths: 0 Half Baths: 0

  • Building Information

    Year Built: 1986 Building Area Total: 2,056

  • Lot Details

    Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.09 Lot Size Dimensions: 45x89
  • Lot Size Source: Vendor Enhanced Lot Size Square Feet: 3920

  • Listing Price Information

    Original List Price: 1,075,000 Listing Contract Date: 2025-11-21
  • Lease Information

    Listing Agreement: Seller Reserved

  • Tax Information

    Parcel Number: 213171021

  • Other Property Info

    Source Listing Status: Active Under Contract Source Neighborhood: 252 - Riverside Directions: To reach 3469 Lime Street, Riverside from the I-91 and I-215 freeway junction, take CA 91 West toward Downtown Riverside. Exit at University Avenue and head west. Turn right onto Canyon Crest Drive, then left onto Lime Street. Continue for a few blocks and the property will be on your right. Zoning: R3 Source Property Type: Residential Income Area: 252 - Riverside
  • Building and Construction

    Property Age: 40 Year Built Source: Vendor Enhanced Total Square Feet Living: 2056 Levels or Stories: Two Building Total Stories: 2
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Nearby Home Value

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4065 Garvey, Riverside, CA, 92501 $610,000 3 2 2,072 2,072 SqFt
1766 Park Place, Riverside, CA, 92501 $609,000 3 2 1,829 1,829 SqFt
3076 Lemon, Riverside, CA, 92501 $925,000 -- -- 2,280 2,280 SqFt
1810 Rivera, Riverside, CA, 92501 $488,000 3 2 1,688 1,688 SqFt
4550 Nicole, Riverside, CA, 92501 $649,000 3 2 2,056 2,056 SqFt

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ByOwner last updated this listing 06/06/2026 @ 08:07

MLS: 25621531 LISTED BY: Oscar Diaz, Marcus & Millichap 310-909-5500 SOURCE: CRMLS

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