421 Devener , Riverside, CA 92507
$1,575,000
Est. Payment: $8,342.23/mo
4 Bed
4 Bath
0 Sqft
Status: ACTIVE | Days on site: 215
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CR-1417 - CR-CV35308,CR-CV35544
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House Description

Pleased to exclusively present the opportunity to acquire two side-by-side 4-plex apartment buildings located at 421 & 427 Devener Street, 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, supportin

Highlights

Listed by Douglas McCauley , 626-695-6776 and David Covarrubias , 626-319-2479 MARCUS & MILLICHAP , 909-456-3400. San Diego County Multiple Listing Service mls logo

Property Type

Multi-Family

Lot/Acreage
0.33

County

Riverside

Listing ID

CV26019708

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:4
  • Bathrooms:4
  • Full Bathrooms:

Exterior Features

Zoning:Public Rec
Principal Interest
$8,342
Taxes
$1,004

Home Price

$1,575,000

Loan Details

30 yrs
6.952%

Down Payment

20%
$315,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$8,342.23

Principal

Taxes

Principal Taxes HOA Total
Monthly $8,342.23 $1,004.06 $0.00 $9,346.30
Yearly $100,106.79 $12,048.75 $0.00 $112,155.54
Total $3,003,203.77 $361,462.50 $0.00 $3,364,666.27

Today's Rates

30 Year

6.95%

20 Year

6.73%

15 Year

6.35%

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Market insight data is pulled from the same city as the listing being viewed (Riverside, CA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

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Data last updated: 2026-09-23T11:15:01.000Z

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