407 Iowa AveRiverside, CA 92507

Property Details for 407 Iowa Ave

Year built

1957

Construction

WOOD

Lot size

1.74 AC

Property size (Sq ft)

2,200 SF

Zone code

CP

Property type

Retail space

APN

247-081-020

APU

247081020

Description

This exceptional investment property in Riverside, CA, presents a rare opportunity to acquire a substantial multi-unit commercial complex spanning 1.74 acres of flat, fenced land. The property comprises two separate buildings with distinct addresses: 407 Iowa Avenue and 421 Iowa Avenue. The main building, located at 407 Iowa Avenue, boasts 2,152 square feet and is currently leased and operating as a successful restaurant. This provides immediate and consistent rental income. The second building, situated at 421 Iowa Avenue, offers a generous 2,384 square feet and features two separate units. Historically, these units have served as a bakery and a barber shop, presenting versatile options for future tenants. The entire property is enclosed by a common block wall, ensuring privacy and security. The combined square footage of both buildings totals 4,536 square feet, offering significant potential for expansion, redevelopment, or continued operation as a multi-tenant commercial property. The flat, 1.74-acre lot provides ample space for parking, outdoor seating, or future development. This property is an ideal investment for those seeking a strong return on investment in a desirable Riverside location. The property is priced at $1,750,000.

• CAP approach

  CAP return

  Valuation

  6%

  $805,474

  6.5%

  $743,514

  7%

  $690,406

• Comparable approach

  Method

  Valuation

  Relative Method

  $939,989

  Geo Method

  $1,951,322

• Alternative Use

  Use

  Valuation

  Residential

  $627,182

  Hospitality

  $574,495

  Educational

  $477,973

  Medical

  $494,412

  Retail

  $743,514

Location Insight

City

Riverside

County

Riverside

State

California

Latitude

34.0141

Longitude

-117.341

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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