10 days on rocket

2029 Patterson St, Riverside, CA, 92507

$1,248,888

Home List Price

$10,000*

Closing Credit

0 Baths
Multi

Location

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2029 Patterson St, Riverside$1,248,888

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeTriplex
Garage2 spaces
Year Built2024
HeatingCentral
MLS #DW24239040
Lot Size0.30 Acres
StatusActive

About 2029 Patterson St

Whether you're an investor or a buyer seeking a multi-unit property to live in while generating rental income, this is an opportunity you won’t want to miss. The potential for house hacking is enormous—live in one of the units while collecting rents from the others, or enjoy the steady, reliable income stream as an investor. The current property generates a strong net operating income (NOI) of $88,371 annually, making it a high-yield investment with exceptional growth potential in a booming area. With a cap rate of **7.1%**, this property represents a highly attractive opportunity for anyone looking to capitalize on Riverside's growing real estate market. This exceptional triplex is a rare gem in Riverside, offering a prime opportunity for both savvy investors and buyers looking to house hack. Situated just minutes away from the 91 and 215 freeways, as well as the vibrant Downtown Riverside area, this property offers unrivaled access to major commuter routes and city amenities. Riverside City College, the University of California Riverside (UCR), California Baptist University, shopping, dining, and entertainment options are a few minutes away, this location is truly at the heart of it all. The property features three distinct units, each with unique potential. One of the detached units is a brand-new construction, offering 3 spacious bedrooms, 2.5 bathrooms with a 2-car garage. At 1,199 sqft, this beautiful home is fully independent, with its own separate utilities. The other two units are well-maintained, recently remodeled and offer a combined mix of 3-bedroom, 2-bathroom (1,162 sqft) and 1-bedroom, 1-bathroom (600 sqft) units, both sharing utilities. Both occupied units are on a month to month lease. With a huge lot measuring 13,068 sqft, the property offers plenty of space for potential future improvements or expansion. Whether you're looking for the perfect place to live or a solid, income-generating investment, this property checks all the boxes. Don’t let this once-in-a-lifetime opportunity slip away. Make your move today!

Property Details

Property Features

Property Information:

  • Year Built: 2024
  • Stories: 2

Listing Office:

  • Office Name: KASE Real Estate
  • Office Phone: (949) 867-0007
  • Listing Agent: Gerardo Garcia Macias

Exterior Features

Exterior Information:

  • Private Pool: No

Parking Information:

  • Garage Space: 2 spaces

Lot Features

Lot Information:

  • Lot Size: 0.30 Acres

Utilities

Utilities Information:

  • Heating: Central

Other

Directions Information:

  • Directions: left side of patterson st

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,248,888

Tax Information:

  • Annual Amount: $3,615
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Riverside, CA.

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Riverside, CA

City

Med. Sold Price

$655K

Med. Price/SqFt

$377

Avg. Days On Market

38

# of Sold Homes

164

2029 Patterson St vs Riverside

10 DAYS ON ROCKET

-28 Days

$1,248,888

+$593.8K More

KEY TAKEAWAY

This property is $593.8K more than the Median Sold Price in Riverside, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #DW24239040

Listing Office:

  • Office Name: KASE Real Estate
  • Office Phone: (949) 867-0007
  • Listing Agent: Gerardo Garcia Macias

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/3/2024, 11:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

May 13, 2014Home Sold
$270,000

Tax History

YEARPROP. TAXASSESSMENT
2021$3,615$319,071
2020$3,614$315,800
2018$3,478$303,540
2017$3,069$297,590

History based on county public records data.

Payment Calculator

$6,301

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$3,811

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-3487581
3
/10

  • Longfellow Elementary School

  • 3610 Eucalyptus Ave

  • 0.28 miles

  • Public District Grades KG-6

school-card-donut-3487582
4
/10

  • Emerson Elementary School

  • 4660 Ottawa Ave

  • 1.08 miles

  • Public District Grades KG-6

school-card-donut-3487583
5
/10

  • Reach Leadership Steam Academy

  • 3422 Rustin Ave

  • 1.20 miles

  • Public Charter Grades KG-6

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $52,128. Residents of Riverside, CA typically earn between $35k-100k each year. The majority of families are married, with kids. The most common level of education of people living in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›California›Riverside County›Riverside›92507›2029 Patterson St

This home is located at 2029 Patterson St in Riverside, CA and zip code 92507 in the Eastside neighborhood. This home, which was built in 2024, sits on a 0.30 acre lot. It has been listed on Rocket Homes since November 23, 2024 and is currently priced at $1,248,888.

Riverside, CA housing market in November 2024 saw over 64 listings sold above listed price, more than 38 sold at listed price and over 62 sold below. The number of listings in Riverside, CA decreased by 8.3% between October 2024 and November 2024. The median list price of listings available in November 2024 was $655,046, while the average time on the real estate market was 38 days.

From Rocket Homes Real Estate and based on county public records data.

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