$1,615,000
-$83,000421 Devener, Riverside CA 92507
Multi-Family (8 Units)
Property type
128 days
On market
$283
Price per sqft
0 cars
Garage
1966
Year built
14,375 sqft
Lot size
Open Houses
Overview
Pleased to exclusively present the opportunity to acquire two side-by-side 4-plex apartment buildings built in 1966 with 5,712 rentable square feet on a 0.33 acre contiguous lot in the City of Riverside. This offering totals eight units and features a highly functional mix of one and two bedroom floor plans. Ideally positioned with convenient access to the I-10, I-215,...
Listing provided by: Douglas McCauley 909-456-3493, MARCUS & MILLICHAP, David Covarrubias DRE #01941403, MARCUS & MILLICHAP
Listing updated: May 27, 2026 at 05:50pm.
Last checked: Jun 2, 2026 at 08:30am
Source: CRMLS #CV26019708
Multi-family Analysis
Unit Information
| Units | Beds | Baths | Garage | Actual Rent | Total Rent | Pro Forma | Furnished? |
|---|---|---|---|---|---|---|---|
| 1 | 1 | 1 | — | $1,450 | $1,450 | $1,558 | Unfurnished |
| 1 | 1 | 1 | — | $1,495 | $1,495 | $1,607 | Unfurnished |
| 1 | 1 | 1 | — | $1,511 | $1,511 | $1,624 | Unfurnished |
| 1 | 1 | 1 | — | $1,595 | $1,595 | $1,714 | Unfurnished |
| 1 | 2 | 1 | — | $1,722 | $1,722 | $1,851 | Unfurnished |
| 1 | 2 | 1 | — | $1,795 | $1,795 | $1,851 | Unfurnished |
| 1 | 2 | 1 | — | $1,850 | $1,850 | $1,988 | Unfurnished |
| 1 | 2 | 1 | — | $2,000 | $2,000 | $2,150 | Unfurnished |
# of Buildings: 2
# of Units Total: 8
Separate Electric Meters: 8
Separate Gas Meters: 8
Separate Water Meters: 1
Rent Control: Yes
Tenant Pays: Electricity, Gas
Financial Snapshot
Gross Rent Multiplier
10.0x
List Price / Annual Gross Rent
Cap Rate
6.76%
NOI / List Price
Gross Scheduled Income: $161,016
Vacancy Allowance: $4,830
Vacancy Allowance Rate: 3%
Operating Expense: $49,273
Net Operating Income: $109,128
Annual Operating Expenses
Electric: $145
Gardener: $1,800
Fuel: $438
Insurance: $8,000
Licenses: $1,066
Maintenance: $8,100
New Taxes: $18,211
Professional Management: $0
Trash: $6,728
Water / Sewer: $3,285
Interior
Heating: None
Laundry: Common Area
Entry Location: Front
Exterior
Property Attached: Yes
Stories Total: 2
Levels: Two
Common Walls: Two Common Walls Or More
Lot Features: Rectangular Lot
Pool: None
Water Source: Public
Sewer: Septic Type Unknown
Garage and Parking
Parking: On Site
Garage Spaces: 0
Uncovered Spaces: 11
Parking Total: 11
Lot Information
Land Lease: No
Common Interest: CommunityApartment
Parcel #: 247081007
Additional Parcels: Yes
Tax Lot: 14
Community
Senior Community: No
Community Features: Curbs, Sidewalks
Nearby Schools
Nearby schools around the 421 Devener, Riverside, CA 92507. Contact the school or district directly to verify enrollment eligibility.
Payment Calculator
Total Principal
$1,292,000
Total Interest
$1,647,875
Total Payment
$2,939,875
Payoff Date
Jun 2056
PMI is disabled automatically when your down payment is 20% or more.
Est. Payment
$9,999
per month
Property History for 421 Devener
Riverside Market Snapshot
Market stats compare this property with recent MLS activity for similar property types in 92507.
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