407 Iowa Ave Riverside, CA 92507
For Sale
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This exceptional investment property in Riverside, CA, presents a rare opportunity to acquire a substantial multi-unit commercial complex spanning 1.74 acres of flat, fenced land. The property comprises two separate buildings with distinct addresses: 407 Iowa Avenue and 421 Iowa Avenue. The main building, located at 407 Iowa Avenue, boasts 2,152 square feet and is currently leased and operating as a successful restaurant. This provides immediate and consistent rental income. The second building, situated at 421 Iowa Avenue, offers a generous 2,384 square feet and features two separate units. Historically, these units have served as a bakery and a barber shop, presenting versatile options for future tenants. The entire property is enclosed by a common block wall, ensuring privacy and security. The combined square footage of both buildings totals 4,536 square feet, offering significant potential for expansion, redevelopment, or continued operation as a multi-tenant commercial property. The flat, 1.74-acre lot provides ample space for parking, outdoor seating, or future development. This property is an ideal investment for those seeking a strong return on investment in a desirable Riverside location. The property is priced at $1,750,000.
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Chris' Burgers Restaurant Take-out & Catering
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
CP · Riverside, CARiverside. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.