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$ 3,295,000
Est. payment | /mo
12,696 SqFt
$ 3,295,000
Est. payment | /mo
12,696 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 12,696 sqft
Price per Sqft $259
MLS Listing ID CL26829225
HOA Y/N No
Year Built 1980
Lot Size 0.910 Acres
Acres 0.91
Property Sub-Type Other
Property Description
We are pleased to present Casa Lynnda, a 14 unit multifamily investment opportunity located at 24356 Webster Avenue in the Sunnymead neighborhood of Moreno Valley. The property is ideally situated just south of Sunnymead Boulevard with convenient access to the 60 Freeway via the Heacock Street exit, offering a balance of a quiet residential setting and close proximity to major retail, employment centers, and transportation corridors. Constructed in 1980, Casa Lynnda is a gated, courtyard style apartment community positioned on an expansive approximately 39,640 square foot lot. The property is zoned R2 and features a well designed layout that includes 24 on site parking spaces and a central courtyard that enhances the overall tenant experience. The unit mix consists of ten two bedroom one bathroom units and four one bedroom one bathroom units, providing functional floor plans that appeal to a wide range of renters. The property offers desirable amenities including secured entry, a well maintained courtyard environment, on site laundry, and ample parking, all located on a low traffic street. Residents benefit from close proximity to Moreno Valley Mall, nearby schools, parks, and the region's major employment hubs within the Inland Empire. Casa Lynnda is being offered at a 6% cap rate and a 10.98 gross income multiplier, presenting investors with stable in place income and the opportunity to further enhance returns through continued operational efficiencies and strategic unit upgrades. Moreno Valley continues to experience steady growth supported by its relative affordability, strong freeway connectivity, and access to major logistics and employment centers throughout the Inland Empire. With rental rates remaining accessible relative to local incomes, the market continues to demonstrate consistent tenant demand and long term investment fundamentals.
Location
State CA
County Riverside
Zoning R2
Interior
Fireplace No
Building
New Construction No
Others
Tax ID UNAVAILABLE
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Listed by Oscar Diaz • Marcus & Millichap
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