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3909 Madison Street

Riverside, CA 92504
  • $1,700,000
  • STATUS: Active
  • ON SITE: 33 Days
  • ID#: OC22080287
UPDATED: 83 min ago
$1,700,000
  • 0
    BEDS
  • 1.1
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1951
County:

School Ratings & Info

Listing Agent(s): Steve Doughty of Coldwell Banker Platinum Prop (949-552-0505) and Maryann Moore of Coldwell Banker Platinum Prop(949-552-0505)


Description

We are pleased to present for sale 3909 Madison Street, a 47,916 SF lot with 4 separate homes. This is an ideal redevelopment project for a small home builder. The property is presently zoned R-1 7000, which allows for up to 6 homes to be built. During the entitlement and construction process the existing 4 homes will be generating a monthly income of approximately $5,500 per month. This property is conveniently located in Central Riverside, just north (0.70 miles) of the Riverside 91 Freeway and walking distance to Ramona High School.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T09:30:26.053. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/127969495
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3909 Madison Street Riverside, CA 92504

  • Price: $1,700,000
  • Status: Active
  • On Site: 33 Days
  • Updated: 83 min ago
  • ID#: OC22080287
0
Beds
0
Baths
0
½ Baths
1.1
Acres
1951
Built
Neighborhood:
252 - Riverside
County:
Riverside
Area:
252 - Riverside
Property Description
We are pleased to present for sale 3909 Madison Street, a 47,916 SF lot with 4 separate homes. This is an ideal redevelopment project for a small home builder. The property is presently zoned R-1 7000, which allows for up to 6 homes to be built. During the entitlement and construction process the existing 4 homes will be generating a monthly income of approximately $5,500 per month. This property is conveniently located in Central Riverside, just north (0.70 miles) of the Riverside 91 Freeway and walking distance to Ramona High School.
Exterior Features

Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 4 Open Parking Spaces 4 Parking Total 4 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features Urban Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 65100 Gross Scheduled Income 65100 Insurance Expense 2200 Land Lease YN No Laundry Features None Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Conventional Net Operating Income 60100 New Construction YN No Number Of Separate Gas Meters 4 Number Of Separate Water Meters 2 Number Of Units Leased 4 Operating Expense 5000 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 5425 Trash Expense 1350 Water Sewer Expense 1450 Water Source Public Zoning R1



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T09:30:26.053. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): Steve Doughty of Coldwell Banker Platinum Prop (949-552-0505) and Maryann Moore of Coldwell Banker Platinum Prop(949-552-0505)