421 Devener
Riverside, CA 92507
$1,575,000
- 0.33 acres
- Built 1966
Listed by MARCUS & MILLICHAP · MLS #CV26019708
A REAL PERSON, READY TO HELP
Interested in this property?
Connect with a local ERA professional for answers, a private showing, or help thinking through an offer.
Contact the property team
PROPERTY QUESTIONS & SHOWINGS
Ask about this property.
421 Devener, Riverside, CA 92507 · MLS #CV26019708
A FEW THINGS TO NOTICE
What stands out.
Year built
Built in 1966.
Property size
0.33 acres listed.
Highlights from the listing description and property details. Confirm features with the listing agent.
THE PROPERTY
Get to know the property.
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, supporting continued in-migration and sustained renter demand.
Residents enjoy a robust lifestyle and amenity base, including the historic Mission Inn Hotel & Spa, the Fox Performing Arts Center, and outdoor attractions such as California Citrus State Historic Park. With a population of approximately 323,700 and a median household income near $88,600, Riverside’s demographic and economic fundamentals continue to support long-term multifamily ownership.
Overall, 421–427 Devener Street represents an attractive opportunity to acquire a centrally located apartment building in Southern California’s most resilient and investor-friendly inland markets.
THE NEIGHBORHOOD
Explore the location.
421 Devener, Riverside, CA 92507
Loading property map…
Map position comes from the listing source. Open directions in Google Maps
LOCAL MARKET CONTEXT
Riverside County housing market
See the broader conditions surrounding this property through ERA Brokers Consolidated research.
These figures describe the broader reporting area and do not determine this property’s value, condition, availability, or likely sale price.
THE DETAILS
The details, all in one place.
- Property type
- ResidentialIncome
- Category
- Residential
- Year built
- 1966
- Garage spaces
- 0
- Heating
- None
- Pool
- No
- Pool features
- None
- Parcel
- 247081007
Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.
OWNERSHIP, WITH A PLAN
Investor outlook.
Explore this property’s rental potential with an all-cash purchase. Monthly rent starts at 5% of the purchase price per year, divided by 12. Adjust it and the other assumptions to explore your scenario.
ERA PROPERTY MANAGEMENT
See its potential.
Have a plan for what follows.
Considering this property as a rental? Start with the numbers, then talk through the day-to-day with a local management team.
Understand the opportunity.
Review rental pricing, property condition and your ownership goals with a local professional.
Make a strong first impression.
Bring together property preparation, professional marketing and applicant screening.
Stay connected to your investment.
Get support with rent collection, resident communication, maintenance coordination and owner reporting.
LOCAL PEOPLE. SHARED COMMITMENT.
A team behind your next step.
From your first question to the everyday work of ownership, a conversation with the right person makes a difference.
Meet ERA Property ManagementResidential management in Utah, Nevada and Texas. Service availability and rental eligibility must be confirmed for each property. Commercial and association services are available through our management services page.
YOUR CAREER. YOUR NEXT CHAPTER.
Find your place in real estate.
Just getting started?
Explore real estate education and available licensing courses through ARTI Academics.
Become a real estate agentReady to work with ERA?
Discover the people, broker support, technology and education behind an ERA real estate career.
Join ERA BrokersMoving for work?
Explore ERA Corporate Services for relocation assistance, employer programs, and information for veterans and military families.
Explore Corporate ServicesMore in Riverside.
$649,900
$570,000
$2,150,000Listing information
MLS #CV26019708 · California Regional MLS
Listing brokerage: MARCUS & MILLICHAP
Listing agent: Douglas McCauley
Listing status: Active. Record updated . Confirm current availability and price with the listing agent.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. "CRMLS" and is protected by all applicable Copyright © 2023 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. Information deemed reliable but not guaranteed. Copyright © 2023 California Regional Multiple Listing Service, Inc. All rights reserved.