3469 Lime Street, Riverside, CA 92501

Description

We are pleased to present 3469 Lime Street, a five-unit apartment property located just steps from the heart of Downtown Riverside and only 0.4 miles from the Mission Inn. Priced at $1,075,000, or $215,000 per unit, the offering provides investors with stable income and a favorable day-one cap rate. The property consists of five one-bedroom, one-bath units. The lower units feature private patio areas, while the upper units offer individual balconies, enhancing tenant appeal and supporting long-term retention. Built in 1986 on a 3,920 square foot lot, the property delivers comfortable and well-located housing in a walkable neighborhood close to Riverside's dining, retail, and cultural amenities. Its proximity to Downtown Riverside and the Mission Inn District drives consistent demand for smaller units, contributing to strong occupancy and reliable cash flow. Based on the current rent roll of $7,454 and the pro forma rent roll of $8,975, the property offers an immediate $1,521monthly upside, representing a 20.41% increase from existing income levels. In addition to this current upside, an owner who chooses to issue allowable rent increases under AB 1482 can further improve returns. With the ability to raise rents by up to 7.5%, investors can increase income within the first few months of ownership, elevating the projected cap rate to 6.15%. 3469 Lime Street presents an excellent opportunity to acquire a Downtown Riverside asset with private outdoor spaces, strong tenant demand drivers, and clear income growth supported by both existing upside and allowable rent adjustments.

Listing description from the August 2026 sale, as reported to CRMLS.

Sale history

$1,000,000

Sold August 2026 · listed $1,075,000, on market November 2025, 160 days on market · MLS #25621531 · Source: CRMLS

Listing Agent: Oscar Diaz · Listing Office: Marcus & Millichap · Contact: 310-909-5500 · Bought with: Prashant Sampat · Pacific Avenue Realty

$810,000

Sold July 2020 · listed $825,000, on market April 2020, 21 days on market · MLS #OC20078657 · Source: CRMLS

Listing Agent: Prashant Sampat · Listing Office: Pacific Avenue Realty · Contact: 562-841-0227 · Bought with: Prashant Sampat · Pacific Avenue Realty

$371,000

Sold October 2014 · listed $375,000, on market September 2014, 2 days on market · MLS #OC14210480 · Source: CRMLS

Listing Agent: Prashant Sampat · Listing Office: Pacific Avenue Realty · Contact: 562-841-0227 · Bought with: Prashant Sampat · Pacific Avenue Realty

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