Description
The Mogharebi Group is pleased to present New Majestic, a distinctive mixed-use investment opportunity located at 876 S D Street in the heart of Perris, California. Built in 2019, this three-story property features 15 spacious apartment homes totaling approximately 20,600 square feet, along with eight ground-floor retail spaces totaling approximately 7,544 square feet, for a combined 28,144 square feet. The residential component consists of four two-bedroom/two-bathroom units and eleven two-bedroom/two-and-a-half-bathroom townhome-style units, with floor plans ranging from approximately 1,085 to 1,400 square feet. Quality construction and desirable amenities include granite countertops, hardwood-style flooring, stainless-steel appliances, washer/dryer hookups, private patios or balconies, and a controlled-access environment. Strategically positioned across from Mercado Park in downtown Perris, New Majestic offers investors the opportunity to acquire a newer-construction asset with diversified income streams from both residential and commercial tenants. The property benefits from proximity to shopping, dining, employment centers, the Perris-Downtown Metrolink Station, and Interstate 215. Individually metered gas and electricity there is a potential additional RUBS income opportunity for operational efficiency and increased revenue. With its attractive unit mix, modern construction, prominent downtown location, and potential for income growth, New Majestic represents a compelling investment opportunity in Riverside County's expanding Inland Empire market.
Details
| MLS # | OC26221383 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 2019 |
| Days On Site | 17 |
| Listing Provided By | Mike Marcu, Broker | Mike Marcu |
Features
| SQ Feet | 28,144 |
|---|---|
| Story(s) | 3 |
| Units | 23 |
| Building(s) | 1 |
| Acreage | 0.95 |
Interior
| Heating | Central |
|---|---|
| Heating Yes / No | Yes |
| Appliances | Washer |
Exterior
| Lot Features | Twenty One To Twenty Five Units Acre |
|---|
Parking
| Parking Features | None |
|---|---|
| Garage Yes / No | No |
Utilities
| Sewer | Sewer Assessments |
|---|
Location
| Community Features | Street Lights, Suburban, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Riverside |
| City | Perris |
| Zip Code | 92570 |
| Area | 699 Not Defined |
| Listing VS Median (in 92570) | |
Price: $6,500,000 low | high Med: $630,788 sqft: 28,144 low | high Med: 2,332 $ / sqft: $231 low | high Med: $271 On site: 17 low | high Med: 47 | |
Market Activity 92570
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Learn More About This Property
| State | CA |
|---|---|
| County | Riverside |
| City | Perris |
| Zip Code | 92570 |
| Area | 699 Not Defined |
| Listing VS Median (in 92570) | |
Price: $6,500,000 low | high Med: $630,788 sqft: 28,144 low | high Med: 2,332 $ / sqft: $231 low | high Med: $271 On site: 17 low | high Med: 47 | |