3080 Elgin DR, Riverside, CA 92507
3080 Elgin DR, Riverside, CA 92507
3080 Elgin DR, Riverside, CA 92507
3080 Elgin DR, Riverside, CA 92507
3080 Elgin DR, Riverside, CA 92507
3080 Elgin DR, Riverside, CA 92507
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Peter Lorimer

Peter Lorimer

+1(310) 666-7383
$ 1,030,000
Est. payment | /mo

6,529 Sqft Lot

Save
$ 1,030,000
Est. payment | /mo
Save

6,529 Sqft Lot

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision University Townhomes

MLS Listing ID CV26204711

HOA Fees $550/mo

HOA Y/N Yes

Year Built 1964

Lot Size 6,529 Sqft

Property Sub-Type Apartment

Property Description

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.

Location

State CA

County Riverside

Area 252 - Riverside

Zoning R3

Interior

Cooling Wall/Window Unit(s)

Fireplaces Type Living Room

Fireplace Yes

Laundry Laundry Room, Outside

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool Community, Association

Community Features Sidewalks, Pool

Amenities Available Clubhouse, Maintenance Grounds, Maintenance Front Yard, Barbecue, Pool

Total Parking Spaces 8

Private Pool No

Building

Lot Description 21-25 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

HOA Name University Townhomes

Senior Community No

Tax ID 250121012

Energy Description 1.0

Acceptable Financing Submit

Listing Terms Submit

Special Listing Condition Standard, Trust

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Sean Hwangbo TNG REAL ESTATE CONSULTANTS 6266797947, DRE #01945497
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Peter Lorimer

Making real estate fast, fun, and stress-free!

+1(310) 666-7383

peter@plgestatesinc.com

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3080 Elgin DR