Pending

421 Devener

Riverside, CA 92507
Mark as Favorite
Bed 12

Bed

Bath 8

Bath

Acres0.33

Acre(Lot)

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.

Read More Expand

Detail Ic Property Details

Property Type : ResidentialIncome

Price : $1,575,000

AD Id : 87072136

MLS Id : CV26019708

Beds : 12

Lot Size : 0.33 Acre

Year Built : 1966

County : Riverside

  • Map Map

Map

Map What's Nearby

Map Nearby Areas

Feature Features

  • Heating & Cooling

    Heating: None

  • Building Information

    Year Built: 1966
    Building Area Total: 5712
    Stories: 2
    Pool Features: None
    Private Pool: No

  • Lot Information

    Main Square Feet: 0.33 Lot Size Acres: 0.33 Lot Size Source: PublicRecords Lot Size Square Feet: 14,375 Lot Description: RectangularLot

  • Listing Price Information

    Listing Price: $1575000
    Original Price: $1800000
    Cash, CashToNewLoan

  • Tax Information

    Parcel Number: 247081007 Tax Lot: 14

  • Location Information

    Direction: 421 & 427 Devener Street, Two side-by-side 4-plex apartment buildings WaterSource: Public
Sell a home like this and save $94,001 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.

Images
Loading, please wait...

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
8538 Anthony, Riverside, CA, 92507 $830,000 5 3 2,824 2,824 SqFt
8285 Tristan Ln, Riverside, CA, 92507 $738,000 5 2 2,300 2,300 SqFt
7410 Wagon Trail, Riverside, CA, 92507 $825,000 4 2 2,910 2,910 SqFt
21288 Telegraph, Riverside, CA, 92507 $830,000 5 3 2,889 2,889 SqFt
21264 Telegraph, Riverside, CA, 92507 $668,000 3 2 1,388 1,388 SqFt
7633 River Gulch, Riverside, CA, 92507 $880,000 4 2 2,387 2,387 SqFt
7453 Grazing Lane, Riverside, CA, 92507 $1,050,000 7 5 3,560 3,560 SqFt
8188 Country Mile Lane, Riverside, CA, 92507 $784,999 4 2 2,316 2,316 SqFt
7335 Stockyard, Riverside, CA, 92507 $829,000 5 3 2,657 2,657 SqFt
21147 Broken Stone Court, Riverside, CA, 92507 $938,000 5 4 3,245 3,245 SqFt

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 07/25/2026 @ 17:45

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

Homes around $1,575,000

Selling? Save $94,001 when you sell a home like this

Tour with a ByOwner Agent