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Property profile & analytics
FOR SALE
Retail space

407 Iowa Ave Riverside, CA 92507

2,200 SF 1.74 ac lot Built 1957
Individually Owned 30-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US09-1462403
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1957
Construction WOOD
Total area 2,200 SF
Lot 1.74 ac (75,794 SF)
Zoning code CP
APN 247-081-020
UPID US09-1462403
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Chris' Burgers Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Chris Artikis · 30 yrs held
Chris Artikis
since 1996
2 recorded transactions
1996
$256,000
1994
Price N/A
Zoning & alternative use
CP · Riverside, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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