4545-4581 Main St - Apartments FOR SALE


Riverside, CA 92501- Downtown Riverside
$3,595,000 USD
909-827-0687
4545-4581 Main St, Riverside, CA for Sale
$3,595,000 USD
Apartments - FOR SALE
1/8
null | 6.12% Cap Rate

4545-4581 Main St
Riverside, CA 92501
Downtown Riverside


HIGHLIGHTS

  • 6.12% CAP RATE AND 11.11 GIM Provides solid in-place income with the potential for future rental upside.
  • BALANCED UNIT MIX: (1) 3 Bed / 2 Bath, (6) 2 Bed / 1 Bath, (6) 1 Bed / 1 Bath, and (1) non-conforming studio, appealing to a wide range of tenants.
  • 25 ON-SITE PARKING SPACES Ample parking, a key amenity in this infill location.

OVERVIEW

Marcus & Millichap is pleased to present 4545–4581 Main Street, a 14-unit multifamily investment ideally located near Downtown Riverside. Positioned just off Magnolia Avenue and 14th Street, the property sits within one of Riverside’s most desirable neighborhoods, known for its historic character, cultural attractions, and consistent rental demand. The asset spans three contiguous parcels totaling approximately ±34,412 square feet and features a unique configuration of five separate buildings. This layout provides enhanced privacy, open space, and a predominantly single-story design, creating a more residential environment compared to traditional apartment complexes. Its proximity to Riverside City College and major transportation corridors further strengthens its long-term tenant appeal. The property offers key amenities that support stable occupancy, including 25 on-site parking spaces, an on-site laundry facility, and interior mini-split air conditioning systems. Recent capital improvements such as newer roofs and well-maintained exterior areas contribute to reduced maintenance needs and tenant retention. Additional income potential is supported by stand-alone garages that can be leased for storage, along with two separate owner’s rooms that may offer future conversion into additional garages or ADU units, subject to buyer verification. The unit mix consists of one three-bedroom, two-bath home, six two-bedroom units, six one-bedroom units, and one studio, catering to a broad tenant base including students, professionals, and families. The property is currently operating at a 6.12 percent cap rate and 11.11 GIM, providing strong in-place income with upside through gradual rent growth. Located within a highly accessible and tenant-oriented corridor, the property is within walking distance to Riverside City College and under ten minutes from UC Riverside. Nearby amenities include major retail centers, employment hubs, and notable destinations such as the Mission Inn, The Cheech Center, Mount Rubidoux, and the California Citrus State Historic Park. With convenient access to the 91 and 215 Freeways, the property benefits from strong regional connectivity. 4545–4581 Main Street represents a rare opportunity to acquire a well-located, low-density asset with stable cash flow and long-term growth potential in one of Riverside’s most supply-constrained markets.

FOR SALE DETAILS

PRICE

$3,595,000 USD

PRICE/SF

$391 USD /SF

# OF UNITS

14

PRICE/UNIT

$256,786

CAP RATE

6.12%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

R3

APN/PARCEL ID

219-031-004

ASK ABOUT THIS PROPERTY

Sebastian DiazMarcus & MillichapMore Info
909-827-0687

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Sebastian DiazMarcus & MillichapMore Info
909-827-0687

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.