Description

DRIVE BY ONLY. DO NOT DISTURB TENANTS. We are pleased to exclusively present the opportunity to acquire Villa Ava Apartments, a gated 20-unit multifamily community located in Riverside, CA. Constructed in 1990 and situated on .75 acres, the property is comprised of two rental buildings with a strong unit mix of one- and two-bedroom floorplans that range in size from 750 to 850 square feet. The spacious units are efficiently designed and feature well-equipped kitchens, a private patio or balcony and a mix of plush carpeting & tile flooring. Villa Ava provides residents on-site laundry facility, manicured landscaping, and are individually metered for gas & electricity with individual water heaters. The property is fully-gated and fully-surveillanced with controlled access and offers both open and covered carports for parking.The community has convenient access to the 60, 91, and 215 freeways, connecting the community throughout Southern California and is one mile from the University of California, Riverside (UCR) campus with an undergraduate population of over 22,903 and growing. In addition, the property is within minutes to grade schools, employment centers, hospitals, dining, retail, and Downtown Riverside.Villa Ava is neatly-positioned to benefit from rapidly-increasing population growth of the city of Riverside as demand for multifamily housing increases in the city and barriers to entry for home ownership widens. Operational upside coupled with potential student housing conversion further enhances the desirability of this offering.