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La Paz & Las Palmas Apartments 2 Multifamily Properties Offered at $19,044,480 CAD in Riverside, CA
Investment Highlights
- Rare Contiguous Two-Parcel Acquisition in a High-Growth Market -Prime opportunity to acquire two multifamily properties situated directly side by side
- Strong Unit Mix with Functional Floor Plans
- Exceptional Location Across from Key Community Landmarks
- Attractive Yield and Strong Financial Fundamentals - Competitively priced at $222,222 per unit ($299 per RSF)
- Interior Finishes and Community Amenities - The gated community offers a swimming pool, laundry facilities, and BBQ areas set against lush landscaping
- Stable Cash Flow in a Well-Maintained Asset
Executive Summary
CBRE is pleased to present the exclusive opportunity to acquire 63 units across two contiguous parcels, consisting of the La Paz and Las Palmas Apartments. Located in the heart of Riverside, these assets offer a premier foothold in one of Southern California’s most high-demand rental markets.
These well-maintained assets occupy a prime location at 2032 and 2052 Linden Street, offering tenants unparalleled convenience and a high-quality lifestyle. The properties are located just minutes from the vibrant Downtown Riverside district, the historic Mission Inn Hotel and Spa, and major educational anchors including Riverside City College, Cal Baptist University and the University of California, Riverside. Commuters benefit from immediate access to the Metrolink Downtown Riverside Station and a sophisticated regional transportation network. With proximity to the 91, 10, 60, and 215 freeways, the property serves as a central hub connecting residents to major employment centers across Riverside, San Bernardino, Orange, and Los Angeles Counties. Beyond the local boutiques and dining, residents are within a short drive of world-class retail destinations such as the Galleria at Tyler, the Moreno Valley Mall and the Riverside Plaza, ensuring a comprehensive live-work-play environment.
Property Highlights & Unit Details
The community offers a secure environment through gated entry and perimeter fencing, complemented by a suite of amenities including a community swimming pool, shared laundry facilities, and an outdoor BBQ area. The architecture is defined by a classic stucco and stone aesthetic, framed by lush, mature landscaping. Property infrastructure includes both covered and surface parking for resident convenience. Two-car garages are also available for lease, ideal for both parking and additional storage. Interior features include functional kitchens equipped with oven ranges, ceiling fans, vertical blinds, and a mix of tile or vinyl wood flooring. Each unit is further serviced by wall-mounted air conditioning and heating units.
Investment Stability & Buyer Profile
These stable, well-maintained assets provides immediate income security and remains a highly attractive destination for residents seeking quality housing in a well-established submarket. The portfolio’s proven performance and strategic location make it an ideal acquisition for a wide range of investors. Whether tailored for a first-time purchaser looking for scale, a seasoned institutional investor expanding a regional footprint, or a 1031 exchange buyer requiring a reliable, low-vacancy asset, these contiguous properties offer long-term stability and an exceptional foothold in the thriving Inland Empire economy.
These well-maintained assets occupy a prime location at 2032 and 2052 Linden Street, offering tenants unparalleled convenience and a high-quality lifestyle. The properties are located just minutes from the vibrant Downtown Riverside district, the historic Mission Inn Hotel and Spa, and major educational anchors including Riverside City College, Cal Baptist University and the University of California, Riverside. Commuters benefit from immediate access to the Metrolink Downtown Riverside Station and a sophisticated regional transportation network. With proximity to the 91, 10, 60, and 215 freeways, the property serves as a central hub connecting residents to major employment centers across Riverside, San Bernardino, Orange, and Los Angeles Counties. Beyond the local boutiques and dining, residents are within a short drive of world-class retail destinations such as the Galleria at Tyler, the Moreno Valley Mall and the Riverside Plaza, ensuring a comprehensive live-work-play environment.
Property Highlights & Unit Details
The community offers a secure environment through gated entry and perimeter fencing, complemented by a suite of amenities including a community swimming pool, shared laundry facilities, and an outdoor BBQ area. The architecture is defined by a classic stucco and stone aesthetic, framed by lush, mature landscaping. Property infrastructure includes both covered and surface parking for resident convenience. Two-car garages are also available for lease, ideal for both parking and additional storage. Interior features include functional kitchens equipped with oven ranges, ceiling fans, vertical blinds, and a mix of tile or vinyl wood flooring. Each unit is further serviced by wall-mounted air conditioning and heating units.
Investment Stability & Buyer Profile
These stable, well-maintained assets provides immediate income security and remains a highly attractive destination for residents seeking quality housing in a well-established submarket. The portfolio’s proven performance and strategic location make it an ideal acquisition for a wide range of investors. Whether tailored for a first-time purchaser looking for scale, a seasoned institutional investor expanding a regional footprint, or a 1031 exchange buyer requiring a reliable, low-vacancy asset, these contiguous properties offer long-term stability and an exceptional foothold in the thriving Inland Empire economy.
Taxes & Operating Expenses (Actual - 2025) |
Annual (CAD) |
|---|---|
| Gross Rental Income |
$1,684,473
|
| Other Income |
$77,907
|
| Vacancy Loss |
$88,119
|
| Effective Gross Income |
$1,674,261
|
| Taxes |
$214,736
|
| Operating Expenses |
$380,167
|
| Total Expenses |
$594,903
|
| Net Operating Income |
$1,079,358
|
Taxes & Operating Expenses (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,684,473 |
| Other Income (CAD) | |
|---|---|
| Annual | $77,907 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $88,119 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,674,261 |
| Taxes (CAD) | |
|---|---|
| Annual | $214,736 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $380,167 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $594,903 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $1,079,358 |
Property Facts
| Price | $19,044,480 CAD | Number of Properties | 2 |
| Price / SF | $406.64 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 5.67% | Total Building Size | 46,834 SF |
| Sale Type | Investment | Total Land Area | 2.09 AC |
| Status | Active |
| Price | $19,044,480 CAD |
| Price / SF | $406.64 CAD / SF |
| Cap Rate | 5.67% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 46,834 SF |
| Total Land Area | 2.09 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Las Palmas Apartments
2052 W Linden St, Riverside, CA 92507 |
Multifamily | 24,424 SF | 1958 | - |
|
La Paz Apartments
2032 W Linden St, Riverside, CA 92507 |
Multifamily | 22,410 SF | 1958 | - |
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La Paz & Las Palmas Apartments
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