Ramona Oaks Apartments

Property Description

CBRE, Inc., as exclusive advisor, is proud to present an exceptional opportunity to acquire a well-maintained unit property located at 3401 Ramona Drive in Riverside. This ±35,504 SF building sits on a generous ±78,844 SF lot. The property is situated on the intersection of Ramona Drive and Olivewood Avenue and runs adjacent to the 91 Freeway. 3401 Ramona Drive is conveniently located within minutes to Riverside City College and the University of California Riverside. It provides easy access to the 91 Freeway, Downtown Riverside Metrolink train station, Riverside Community Hospital, Riverside Plaza and a variety of other shopping centers, restaurants, retailers, and parks, all just a short distance away. Showcasing mature and lush landscaping, 3401 Ramona Drive resides in a quiet residential neighborhood in Riverside. The property features a secured parking entrance gate, covered parking and surface parking stalls, a community pool and an on-site laundry facility. Units feature kitchens with dishwashers and electric cooking systems, wood plank and carpet flooring throughout the units, central A/C system for the two-bedrooms and wall A/C for the one-bedrooms, ceiling fans, vertical blinds, and private balconies or patios. Five buildings have brand new roofs, and all 44 units have new windows, screens, and patio doors. Eight of the units (Units 36-44) were subject to a fire in 2017 with the previous owner and all were completely remodeled. Neighboring cities include Moreno Valley, Woodcrest, Jurupa Valley, Fontana, Colton, and San Bernardino. Significant local landmarks within a 20-mile radius include: Downtown Riverside, University of California, Riverside (UCR), UC Riverside Botanic Gardens, Mount Rubidoux, Mission Inn Hotel and Resort, Riverside Plaza, Magnolia Town Center, the Moreno Valley Mall, California Baptist University (CBU), Fox Performing Arts Center, and the March Field Air Museum, to name a few. 3401 Ramona Drive is an admirable Inland Empire income-producing property and a great long-term investment. The property offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.