8-Bedroom Residential Income - 21893 Cottonwood Avenue, Moreno Valley, CA

Description

We are pleased to present 21893 Cottonwood Avenue, a four-unit multifamily property located in Moreno Valley, California. The property is conveniently located near the 60 and 215 Freeways, providing tenants with easy access throughout the Inland Empire, including Riverside, San Bernardino, and surrounding employment hubs. 21893 Cottonwood Avenue offers investors a unique opportunity to acquire a fully vacant four-unit property, allowing a new owner to select their own tenants, lease all units at market rents, or occupy one unit while renting out the remaining three. The property features approximately 2,889 rentable square feet situated on a large 41,382-square-foot (0.95-acre) lot. The unit mix consists of one two-bedroom/one-bathroom single-family home and three two-bedroom/one-bathroom apartment units. Recent improvements include a new electrical panel for the front house, remodeled units, fresh paint, newly installed mini-split AC units, and newly paved asphalt. Offered at $925,000, the property is priced at $231,250 per unit and $320.18 per square foot. Based on projected market rents, the property is expected to achieve a 7.84% cap rate and 9.02 GRM once stabilized. Moreno Valley continues to experience steady rental demand supported by its relative affordability, convenient access to the 60 and 215 Freeways, and nearby employment drivers, including March Air Reserve Base and the expanding Inland Empire logistics corridor. With all four units delivered vacant, recent property improvements, and a nearly one-acre lot, 21893 Cottonwood Avenue provides a new owner the opportunity to immediately establish market rents and position the property for strong stabilized cash flow.

Property details

Location

21893 Cottonwood Avenue • Moreno Valley, CA 92553

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Listed by

Oscar Diaz · Marcus & Millichap