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  • 3469 Lime Street

3469 Lime Street, Riverside, CA 92501

$1,075,000 Approx. USD 5 beds, 5 baths
2,056 sqft
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Photo of Scott Waid

Scott Waid REALTOR® - Sales Associate 858-945-4004 m
858-683-8071 o
Lic#: 01338684
NRDS ID: 196519114
Swaid3@san.rr.com Text Me
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Lic#: 01338684
NRDS ID: 196519114
Swaid3@san.rr.com Rancho Bernardo Office
16969 Bernardo Center Drive, Suite 100
San Diego, CA 92128
Phone: 858-487-3520
Fax: 858-451-0932
 Rancho Bernardo 16969 Bernardo Center Drive, Suite 100
San Diego, CA 92128
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Fax: 858-451-0932
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Listing Agent


Oscar Diaz | Oscar.Diaz@marcusmillichap.com
Lic#: 02022902
Broker: Courtesy of Marcus & Millichap
Phone: 213-943-1884

Agent Remarks

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.

Listing Details

Property type: (Multi-Family)
Status: Active Under Contract
MLS# 25621531
Price: $1,075,000
Beds: 5
Baths: 5
Built in 1986
2,056 sqft
2 stories
0.09 acres
Lot size: 0.0900
County: Riverside
Zoning: R3
MLS area: 252 - Riverside

Last Updated: 6/11/2026

 Days On Market (DOM): 161

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This listing belongs to the 252 - Riverside MLS area

Lat/Long: 33.983765, -117.369023.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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Photo of Scott Waid

Scott Waid REALTOR® - Sales Associate 858-945-4004 m
858-683-8071 o
Lic#: 01338684
NRDS ID: 196519114
Swaid3@san.rr.com Text Me
Call My Cell
Call My Office
Lic#: 01338684
NRDS ID: 196519114
Swaid3@san.rr.com
Rancho Bernardo Office
16969 Bernardo Center Drive, Suite 100
San Diego, CA 92128
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