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3469 Lime St
For Sale $1,075,000 ($522.86 per Sq Ft)
$1,075,000 ($522.86 per Sq Ft)
- 5 Units
- 2,056 Sq Ft
- 3,920 Sq Ft
- Unknown Cap Rate
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.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $1,075,000 |
| Property Type | Multi-Family |
| Usable Sqft | 2,056 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1986 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 213171021 |
| MLS # | 25621531 |
| Property ID | 322404137 |
| Lot Sqft | 3,920 |
| Zoning | R3 |
| Total Units | 5 |
| Days on Market | 55 |
| Original List Price | $1,075,000 |
| Date Updated | December 09, 2025 |
| Date Created | November 21, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 1 | 1.00 | $1,491 | $1,795 |
| Gross Income (Yr) | $ 86,765 |
| Operating Expenses | $ 26,791 |
| Net Income (Yr) | $ 59,974 |
| Cap Rate | 5.58% |
Listing Provided By
Oscar Diaz an agent of . Lic #02022902
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Robert Crawford
REAL ESTATE AGENT