Residential Income Property with
For Sale
Contact for pricing
Pending
3540 Nelson, Riverside, CA 92506
Two fully permitted homes on one lot, including an updated main residence and a secondary unit with RV parking.
Property Size2,384 SF
Days on Market79
Property Features for 3540 Nelson
General Information
Standard status
Pending
Size
2,384 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Building Details
Tenancy
Single
Listing Agency:
NATIONAL REALTY GROUP
Listed By:
JENNIFER MARTEL · License #01703480
Source:
Crexi
Added: May 15
Changed: Jul 10
Last Checked: Jul 24 at 2:10PM
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 NATIONAL REALTY GROUP
Investment Insights
Based on property information with market context.
This property offers two homes on one lot, providing flexible living or rental arrangements. The main house is 1,584 square feet with 3 bedrooms and 2 bathrooms, and it features a fully remodeled kitchen with updated cabinetry and contemporary finishes. The second, fully permitted unit is 800 square feet with 2 bedrooms and 2 bathrooms, making it well suited for guests, extended family, or a private home office setup. Outside, the main backyard includes a sparkling pool for everyday enjoyment.
The homes are located in Riverside with no HOA, and the area is described as being minutes from shopping, dining, schools, and major commuter routes. Additional on-site convenience is provided by RV parking with space for trailers, vehicles, or other larger items.
For buyers looking for a ready-to-use setup, the combination of a remodeled main residence, a permitted secondary unit, and dedicated outdoor and parking amenities can support multiple household needs while keeping ownership consolidated on a single lot.
The homes are located in Riverside with no HOA, and the area is described as being minutes from shopping, dining, schools, and major commuter routes. Additional on-site convenience is provided by RV parking with space for trailers, vehicles, or other larger items.
For buyers looking for a ready-to-use setup, the combination of a remodeled main residence, a permitted secondary unit, and dedicated outdoor and parking amenities can support multiple household needs while keeping ownership consolidated on a single lot.
Key Highlights
- Two homes on one lot: 1,584 SF main house plus an 800 SF secondary unit (secondary unit fully permitted).
- Main house features 3 bedrooms and 2 baths, with a fully remodeled kitchen and updated cabinetry.
- Secondary unit offers 2 bedrooms and 2 baths, providing flexibility for extended family, guests, or rental use.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.1k | $25.20 |
| − Vacancy | −$1.1k | −$0.45 |
| EGI | $59.0k | $24.75 |
| − OpEx | −$17.7k | −$7.42 |
| NOI | $41.3k | $17.32 |
2,384 SF · lease $25.20/SF/yr · vacancy 1.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$590.0K
$516.2K – $688.3K
NOI $41,297 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$529.2K
$463.1K – $617.4K
NOI $37,045 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$817.9K
$715.7K – $954.2K
NOI $57,253 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,513
Businesses Nearby
Explore this area
Business Placement
Demographics for 92506, CA
45,185
Population
15,407
Households
2.9
Avg Household Size
41
Median Age
42%
College-Educated
93%
High-School Grad
16.2 sq mi
ZIP Area
2,789
Density / Sq Mi
$120,877
Median Household Income
$51,224
Median Earnings
$1,814
Median Rent
$634,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two fully permitted homes on one lot, including an updated main residence and a secondary unit with RV parking.
Where is this duplex located?
The property is located at 3540 Nelson Riverside, CA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two homes on one lot: 1,584 SF main house plus an 800 SF secondary unit (secondary unit fully permitted).; Main house features 3 bedrooms and 2 baths, with a fully remodeled kitchen and updated cabinetry.; Secondary unit offers 2 bedrooms and 2 baths, providing flexibility for extended family, guests, or rental use.
