5111 La Sierra AVE #3 Active Save Request In-Person Tour Request Virtual Tour
Riverside,CA 92505
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID TR24165230
HOA Y/N No
Year Built 1948
Lot Size 0.970 Acres
Property Description
Truly great investment opportunity! 3 separate units, each has its own street address! 4 buildings, total 3,655sf living space and a huge 42,253sf flat lot! Huge development opportunities! There are 3 water meters, 3 gas meters, 3 electric meters; each unit pays all of its own utilities! Each unit has its own trash account and each tenant even pays its own trash bill! A huge saving for the Landlord here, more money in the Landlord’s pocket.
Front unit is located at the corner of La Sierra Ave and Norwood Ave directly across a Seven and Eleven with a 100.17ft frontage! Buyer could investigate re-zoning possibility making this corner lot a much more valuable commercial zone.
Conveniently located one small block north of The 5 Point approximately 1/2 mile from the La Sierra University, walkable distance to the La Sierra High School, and only short minutes’ drive to Galleria at Tyler, AMC 16, restaurants, entertainment centers and the Castle Park. Each unit has its laundry hookup and garage, total 6 garage parking with at least 20+ extra on property parking spaces, each unit even has its front lawn and back yard. (some garages might have been converted).
Unit 11035 Norwood has a brand new roof installed in 2024! Unit 11059 Norwood Ave has new major pumping work done this year in 2024! It also has a new wood fence installed in 2022.
There is a 4th building where an occupant that have been living there for 25+ years has just vacated!!! An additional opportunity.
The huge 266.63ft deep lot with 42,253sf flat usable area is the game changer and a huge development opportunity. Call today and do not miss this truly great investment opportunity!!
Location
State CA
County Riverside
Area 252 - Riverside
Zoning R3
Interior
Interior Features All Bedrooms Down
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Inside
Exterior
Garage Garage
Garage Spaces 6.0
Garage Description 6.0
Pool None
Community Features Curbs,Street Lights
Parking Type Garage
Total Parking Spaces 26
Private Pool No
Building
Lot Description 2-5 Units/Acre,Corner Lot,Lawn,Lot Over 40000 Sqft
Story 1
Entry Level One
Sewer Unknown
Water See Remarks
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 146071034
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Special Listing Condition Standard