9
See all 9 photos
$925,000
Est. payment /mo
8 Beds
4 Baths
2,889 SqFt
New
21893 Cottonwood AVE Moreno Valley, CA 92553
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,889 sqft
Price per Sqft $320
MLS Listing ID 26875157
Bedrooms 8
HOA Y/N No
Year Built 1966
Lot Size 0.950 Acres
Property 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 7.08% cap rate and 9.97 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.
Location
State CA
County Riverside
Area 259 - Moreno Valley
Zoning R2
Interior
Fireplace No
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 263200018
Special Listing Condition Standard
Listed by Oscar Diaz Marcus & Millichap #02022902
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