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We are pleased to present 3469 Lime Street, a five-unit apartment property located just steps from the heart of Downtown Riverside and only 0.4 miles from the Mission Inn. Priced at $1,075,000, or $215,000 per unit, the offering provides investors with stable income and a favorable day-one cap rate. The property consists of five one-bedroom, one-bath units. The lower units feature private patio areas, while the upper units offer individual balconies, enhancing tenant appeal and supporting long-term retention. Built in 1986 on a 3,920 square foot lot, the property delivers comfortable and well-located housing in a walkable neighborhood close to Riverside's dining, retail, and cultural amenities. Its proximity to Downtown Riverside and the Mission Inn District drives consistent demand for smaller units, contributing to strong occupancy and reliable cash flow. Based on the current rent roll of $7,454 and the pro forma rent roll of $8,975, the property offers an immediate $1,521monthly upside, representing a 20.41% increase from existing income levels. In addition to this current upside, an owner who chooses to issue allowable rent increases under AB 1482 can further improve returns. With the ability to raise rents by up to 7.5%, investors can increase income within the first few months of ownership, elevating the projected cap rate to 6.15%. 3469 Lime Street presents an excellent opportunity to acquire a Downtown Riverside asset with private outdoor spaces, strong tenant demand drivers, and clear income growth supported by both existing upside and allowable rent adjustments.
Property Type(s):
Residential Income
| Last Updated | 12/5/2025 | Year Built | 1986 |
|---|---|---|---|
| Community | 252 - Riverside | County | Riverside |
Additional Details
| AREA | 252 - Riverside |
|---|---|
| LOT | 3920 sq ft |
| LOT DIMENSIONS | 45x89 |
| STORIES | 2 |
Location
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Listed with Marcus & Millichap
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
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