Riverside Apartments: 63
For Sale
$14,000,000
2032 West Linden Street, Riverside, CA 92507
63-unit apartment complex in Riverside, offering stable income.
Property Size46,834 SF
Price / SF$298.93
Days on Market223
Property Features for 2032 West Linden Street
General Information
Standard status
Active
Size
46,834 SF
Property subtype
Multifamily
Site & Location
Neighborhood
Eastside
Listing Agency:
CB RICHARD ELLIS
Listed By:
Eric Chen · License #01489184
(909) 418-2071
Source:
Cbre
Added: Mar 27
Changed: Oct 30
Last Checked: Nov 3 at 4:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CB RICHARD ELLIS
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Investment Insights
Based on property information with market context.
This offering presents the opportunity to acquire 63 apartment units across two contiguous parcels, known as the La Paz and Las Palmas Apartments, situated in Riverside. The properties are located at 2032 and 2052 Linden Street, minutes from Downtown Riverside, the Mission Inn Hotel and Spa, Riverside City College, Cal Baptist University, and the University of California, Riverside. Immediate access to the Metrolink Downtown Riverside Station and proximity to the 91, 10, 60, and 215 freeways connect residents to employment centers across Riverside, San Bernardino, Orange, and Los Angeles Counties. Residents are also near the Galleria at Tyler, the Moreno Valley Mall, and the Riverside Plaza. The community provides a secure environment with gated entry and perimeter fencing, along with a community swimming pool, shared laundry facilities, and an outdoor BBQ area. The architecture features a stucco and stone aesthetic with landscaping. Resident convenience is enhanced by covered and surface parking, with two-car garages available for lease. Interior features include kitchens with oven ranges, ceiling fans, vertical blinds, and tile or vinyl wood flooring. Each unit has wall-mounted air conditioning and heating units. The property, with a size of 46834 square feet, offers income security and is suitable for various investors seeking stability in the Inland Empire economy.
Key Highlights
- Prime location in high‑demand Riverside rental market, near Downtown Riverside, Mission Inn, and major universities.
- Excellent transportation access with immediate access to Metrolink and proximity to major freeways.
- 63 units across two contiguous parcels, offering immediate income security and scalability.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$635,877
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,717,540
$12.7M
Cap Rate 7%
$9,083,957
$9.1M
Cap Rate 9%
$7,065,300
$7.1M
Market Conditions
NOI Build-Up for 46,834 SF
Gross rent
$1.22M $26.04/SF
− Vacancy
−$63.4K −$1.35/SF
EGI
$1.16M $24.69/SF
− OpEx
−$520.3K −$11.11/SF
NOI
$635.9K $13.58/SF
Area
ZIP 92507
Vacancy
5.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,717,540
Cap Rate 7%
$9,083,957
Cap Rate 9%
$7,065,300
Alternative Uses
Best Use
Apartment 5plus
$9.08M
$7.95M – $10.60M
NOI $635,877 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.05M
$14.04M – $18.73M
NOI $1,123,544 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,349
Businesses Nearby
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Business Placement
Demographics for 92507, CA
63,191
Population
19,739
Households
3.2
Avg Household Size
28
Median Age
32%
College-Educated
84%
High-School Grad
21.4 sq mi
ZIP Area
2,953
Density / Sq Mi
$72,367
Median Household Income
$31,961
Median Earnings
$1,780
Median Rent
$503,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 63-unit apartment complex in Riverside, offering stable income.
Where is this apartment building located?
The property is located at 2032 West Linden Street Riverside, CA.
What is the asking price?
The asking price for this property is $14,000,000.
What are key features of this property?
This property features: Prime location in high‑demand Riverside rental market, near Downtown Riverside, Mission Inn, and major universities.; Excellent transportation access with immediate access to Metrolink and proximity to major freeways.; 63 units across two contiguous parcels, offering immediate income security and scalability.**
