$1,800,000

10 days ago

421 Devener St, Riverside, CA

Name: 421 Devener St, For Sale in Riverside - eXp Realty
Brand: Marcus & Millichap
SKU: CV26019708
Price: 1800000 USD

Condo

0 Bed

0 Bath

11 Parking

MLS® CV26019708

Key Facts
Description
Map

Key Facts

Type Apartment

Levels Residential Income

Size -

Garage No

HOA Fees $8,100

Taxes

Days Active 9

Approx. Age 1966

MLS® Number CV26019708

Property Address: 421 Devener St, Riverside, CA, 92507-1376

Average square foot calculated using Size range provided by listing agent.

Description

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, SR-60, and SR-91 freeways, the property offers residents excellent regional connectivity throughout the Inland Empire. The buildings are equipped with two on-site laundry facilities, wall-mounted air conditioner & heater units. Each unit is individually metered for gas and electricity & have individual hot water heaters. Parking consists of 11 open parking spaces. The property is on septic, with new tank installed in 2025. The electrical panels were also recently updated. The asset presents a value-add opportunity, with the ability to enhance cash flow through rent growth. Additionally, qualified buyers may benefit from the potential availability of 30-year fixed-rate financing, a significant advantage for investors seeking stable, long-term returns on small-balance multifamily assets. Riverside offers a strong and affordable investment backdrop anchored by steady job growth and a diversified employment base. The city is home to University of California, Riverside and benefits from a large public-sector presence tied to Riverside County, healthcare, education, and logistics. Compared to coastal Southern California markets, Riverside remains relatively affordable, supporting continued in-migration and sustained renter demand. Residents enjoy a robust lifestyle and amenity base, including the historic Mission Inn Hotel & Spa, the Fox Performing Arts Center, and outdoor attractions such as California Citrus State Historic Park. With a population of approximately 323, 700 and a median household income near $88, 600, Riverside’s demographic and economic fundamentals continue to support long-term multifamily ownership. Overall, 421–427 Devener Street represents an attractive opportunity to acquire a centrally located apartment building in Southern California’s most resilient and investor-friendly inland markets.

MLS® NumberCV26019708

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry LevelCommon Area

Exposure

Exterior

GarageNo

Approx. Age1966

Stories2

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Jan 28, 2026List Date

$1,800,000List Price

Commute

Commute

Starting Address

Destination Address

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