3060 Panorama Road
Riverside, CA 92506
Active for $3,350,000
Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 112,820 sqft
| MLS | CV25042378 |
| Year Built | 1968 |
| Property Type | Apartment |
| County | Riverside |
| Status | Active |
| Active | $3,350,000 |
| Structure Size | N/A sqft |
| Lot Size | 112,820 sqft |
| Beds | N/A |
| Baths | N/A |
Description
We are proud to present an exceptional opportunity to acquire a unit 12-Unit multifamily property located at 3060 Panorama Road in the city of Riverside. 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.
Listing information courtesy of: ERIC CHEN, CB RICHARD ELLIS 909-418-2071. *Based on information from the Association of REALTORS/Multiple Listing as of 03/14/2025 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Sako Hamparsomian
Broker Associate
Direct: 626.625.9192
Email: Email Me
DRE: 01310607
DRE #01873088
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