3060 Panorama RD Riverside, CA 92506
UPDATED:
02/26/2025 07:21 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV25042378
HOA Y/N No
Year Built 1968
Lot Size 2.590 Acres
Property Sub-Type Apartment
Property Description
Running adjacent to the 91 Freeway, off of Central Avenue and Ivy Street, the property consists of ±14,529 SF of rentable square feet and is situated on a generous ±112,820 SF hillside lot. The property boasts mature landscaping with lovely mountain views, and onsite carport and surface parking. The units are spacious with an average size of 1,211 SF and feature upgraded fully equipped kitchens with electric stoves and oven ranges, dishwashers, in-unit washer and dryer hook-ups, horizontal blinds, AC/heating, modern fixtures, large walk-in closets, spacious patios or balconies, and a combination of stylish plank wood and carpet flooring throughout.
3060 Panorama Road offers a central location with convenient access to the Metrolink Downtown Riverside Commuter Rail Station. The property is also close to shopping centers, theaters, restaurants, and trendy shops, catering to diverse needs and providing excellent entertainment options.
The Inland Empire, and Riverside in particular, presents a compelling opportunity for multifamily investors seeking portfolio expansion. Riverside benefits from a robust and growing workforce, anchored by the presence of major regional distribution centers. These hubs of commerce attract a consistent influx of new residents seeking employment, creating a reliably strong and stable demand for rental housing. The area's economic foundation, driven by logistics and distribution, provides a level of stability that can be particularly appealing to investors looking for long-term growth and minimal vacancy risk. Furthermore, the Inland Empire, while experiencing growth, often offers more competitive entry points compared to other Southern California markets, making it an attractive option for investors looking to diversify their holdings or enter the multifamily market.
3060 Panorama Road is a stable income-producing asset in the Inland Empire, promising a strong return on investment. Whether you're a first-time investor seeking to enter the market, a seasoned investor looking to expand your portfolio, or considering a 1031 Exchange, this property offers exceptional stability and long-term value.
Location
State CA
County Riverside
Area 252 - Riverside
Zoning R3
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry Washer Hookup, Gas Dryer Hookup, Inside
Exterior
Carport Spaces 20
Pool None
Community Features Curbs, Sidewalks
Total Parking Spaces 23
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 219250006
Energy Description 69.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
