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Sold for $1,125,000 on 07/30/25
  • Listing Provided by: 

    Gerardo Garcia Macias DRE #02105347 949-867-0007,

    Pak Home Realty

    $1,125,000

    2029 Patterson St, Riverside, CA 92507

    7beds
    6baths
    2,961sqft
    Triplex
    Built in 2024
    -- sqft lot
    $-- Zestimate®
    $380/sqft
    $3,829 Estimated rent

    What's special

    This property presents itself as an exceptional opportunity in Riverside’s thriving real estate market, offering a rare combination of immediate income and long-term growth potential. Whether you're an experienced investor or a savvy homebuyer looking to make a smart move, this multi-unit property has everything you need to succeed. With its prime location, strong rental history, and future expansion possibilities, it’s an opportunity you won’t want to miss. The property features three distinct units, each offering its own unique appeal. One standout is the brand-new, detached unit—a spacious 3-bedroom, 2.5-bathroom home with a 2-car garage, separate utilities, and separate address. This newly constructed 1,199 sqft home provides the perfect blend of comfort and independence, making it ideal for a homeowner or tenant. The other two units have been recently remodeled, with one offering a 3-bedroom, 2-bathroom layout and the other a 1-bedroom, 1-bathroom unit. Both are well-maintained and thoughtfully updated, featuring a 6 year old roof, PEX Plumbing, an updated Dual Electric Panel, and a Brand new Gas line. Both units offer a mix of spaciousness and charm. The two occupied units share utilities, providing efficiency while maintaining privacy for each tenant. Set on a generous **13,068 sqft lot**, this property offers a wealth of potential for further growth and to potentially build more units. With a **cap rate of 7.64%**, the property already offers strong returns, but the possibility of increasing income through development makes it an even more exciting investment. Riverside’s location adds another layer of appeal. Just minutes from the 91 and 215 freeways, as well as the vibrant Downtown Riverside, this property offers easy access to major commuter routes, shopping, dining, and entertainment. With local institutions like Riverside City College, UC Riverside, and California Baptist University nearby, demand for rental properties in this area is only expected to increase, making this an even more enticing opportunity. Whether you’re looking for a home with income-generating potential or an investment property with substantial upside, this Riverside gem has it all. With a combination of prime location, solid cash flow, and exciting future prospects, this opportunity won’t last long. Make your move today and seize the chance to be a part of Riverside’s flourishing real estate market.*Grass was added onto the images virtually to enhance the property images*

    Zillow last checked: 7 hours ago

    Listing updated: July 30, 2025 at 11:30pm

    Listing Provided by:

    Gerardo Garcia Macias DRE #02105347 949-867-0007,

    Pak Home Realty

    Bought with:

    Jamie Andrews, DRE #02092779

    Mogul Real Estate

    Source: CRMLS,MLS#: DW25074095MLS LogoOriginating MLS: California Regional MLS

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 7
    • Bathrooms: 6
    Primary bedroom
    • Features: Primary Suite
    Other
    • Features: Walk-In Closet(s)
    Heating
    • Central
    Cooling
    • Central Air
    Appliances
    • Included: Gas Range
    • Laundry: Inside, Laundry Room
    Features
    • Open Floorplan, Pantry, Attic, Primary Suite, Walk-In Closet(s)
    • Has basement: Yes
    • Common walls with other units/homes: 1 Common Wall
    Interior area
    • Total structure area: 2,961
    • Total interior livable area: 2,961 sqft

    Property

    Parking
    • Total spaces: 2
    • Parking features: Assigned
    • Garage spaces: 2
    Features
    • Levels: Two
    • Stories: 2
    • Entry location: front gate
    • Pool features: None
    • Spa features: None
    • Fencing: Brick
    • Has view: Yes
    • View description: None
    Lot
    • Size: 0.30 Acres
    • Features: 2-5 Units/Acre
    Details
    • Parcel number: 211111050
    • Zoning: R3
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Triplex
    • Attached to another structure: Yes
    Condition
    • New construction: No
    • Year built: 2024

    Utilities & green energy

    • Electric: 220 Volts
    • Sewer: Public Sewer
    • Water: Public
    • Utilities for property: Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Available, Sewer Connected, Water Connected

    Community & neighborhood

    Community
    • Community features: Sidewalks
    Location
    • Region: Riverside

    Other

    Other facts
    • Listing terms: Cash,Cash to New Loan,Conventional,FHA,Submit,VA Loan
    Services availability
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