1195 Spring Street — Sale in Riverside, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Riverside, CA 92507

Investment Figures

Cap rate
6.55%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to exclusively present the opportunity to acquire a five-unit multifamily property built in 1962 with 3,264 rentable square feet on a 0.21 acre lot in the City of Riverside. The property features a highly functional unit mix of one and two bedroom floor plans, with single-story construction. The property has an on-site laundry room, wall-mounted air conditioner & heater units, & each unit is separately metered for gas and electricity. The property is on septic. Parking consists of 5 carport parking spaces and 4 open space parking. Riverside presents a compelling investment environment driven by a diverse employment base, continued population growth, and relative affordability compared to coastal markets. Major employment anchors include the County of Riverside, March Air Reserve Base, and the University of California, Riverside, which together support stable housing demand from government, military, academic, and healthcare professionals. Residents enjoy a strong quality of life with access to Downtown Riverside amenities such as the historic Mission Inn, the Fox Performing Arts Center, and outdoor recreation at California Citrus State Historic Park. Ongoing downtown reinvestment, including the Riverside Alive initiative featuring new residential, office, retail, hotel uses, and convention center expansion, further reinforces long-term economic growth and rental demand. With solid fundamentals, efficient unit layouts, limited utility exposure, and a growing Inland Empire market, 1195 Spring Street offers investors an attractive opportunity to acquire a stable, well-located multifamily asset positioned for durable income and long-term appreciation. Investment Highlights: • 6.55% Current Cap Rate & 7.32% Year 1 Cap Rate • One & two bedroom floorplans • Single-story construction • 5 carport parking spaces & 4 open space parking • On-site laundry room • Individually metered for gas & electricity

Market Context

This multifamily in Riverside, CA is listed for sale. It is offered at an approximate 6.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Riverside, CA — view the full market.

As of Q1 2026, the Inland Empire multifamily market showed a 4.9% vacancy rate, and rents up 0.5% year over year. Source: CBRE Q1 2026 market report.

Tight vacancy keeps competition for quality space elevated.

Multifamily market FAQ

Is the Inland Empire multifamily market tightening or softening?
Vacancy is around 4.9% (Q1 2026).

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