Rare ±0.85-acre infill site Zoned R-3-1500 Multi-Family Residential in city of Riverside. Corner of Tyler street and Alrington Ave.
Received conceptual approval from the City of Riverside for a 27-unit multifamily project consisting of all 27 units 3-bedroom / 2-bathroom each.
Strong Rental Support for 3BR/2BA Units:
City of Riverside Section 8 vouchers : $2,851 – $3,320
Riverside County Section 8 v: $3,079
Illustrative Income Potential (at $3,000 per unit/month):
27 units × $3,000/month × 12 months = $972,000 potential gross annual income x 13 gross multiplier = potential furture value when project finished $12,636,000 .
This combination of conceptual City approval and proven demand for larger 3BR/2BA units creates an attractive opportunity for multifamily developers and investors seeking an infill project with a clear path forward.