La Paz and Las Palmas Apartments 2032 West Linden Street
Riverside, CA 92507
For Sale
46,834 sqft
Sale Price
$14,000,000
Brochure
Property Website
Map
Multifamily For Sale - Available March 2026
63-Unit 2-Property Contiguous Parcels | City of Riverside
Rare 2-Property Contiguous Parcels - 63 total units in a high-demand, supply-constrained Riverside submarket.
Attractive 5.67% Cap Rate – Priced at $222k/unit with an immediate 15% rental upside to market levels.
Strong Unit Mix – Features 1 studio, thirty-nine 1-bed, and twenty-three 2-bed floor plans averaging 709 SF.
Gated Community Amenities – Lush landscaping, swimming pool, BBQ areas, laundry, and covered parking/garages.
Prime Riverside Location – Minutes from Downtown, the Mission Inn, and major university anchors (UCR/RCC).
Well-Maintained Asset – Stable cash flow with classic architecture and minimal capital expenditure required.
Major Freeway Access – Convenient to the 91, 10, 60, and 215 for easy OC and LA County commutes.
Ideal 1031 Exchange – A secure, high-yield foothold for first-time buyers or seasoned institutional investors.
Get in touch
Eric Chen
Lic: 01489184
Blake Torgerson
Lic: 01919955
Kevin Sin
Lic: 02020968
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.
Riverside County, California is the fourth largest county in California and the tenth largest in the United States. It’s about 180 miles wide and covers more than 7,300 square miles. The county is home to 2.4 million residents. Riverside County was created in 1893 from parts of San Diego and San Bernardino counties. The county’s name comes from the City of Riverside, which was named in 1871 when the Santa Ana River’s upper canal reached it. Riverside is a city in and the county seat of Riverside County, which has 24 nationally registered historic sites and more than 100 city landmarks. It also offers a variety of museums, theaters, festivals, markets, and unique shopping experiences. Riverside the most populous city in the Inland Empire and in Riverside County, and is about 50 miles southeast of downtown Los Angeles. Known for its citrus industry and as the city of arts and innovation, visitors and residents enjoy cultural activities including downtown museums, restaurants and performing arts centers.
Riverside is also more affordable than major Golden State cities like Los Angeles or San Francisco. Due to Riverside’s warm, dry climate, the average electricity rates are 33% lower than the California average. The Riverside Chamber of Commerce says that the real estate market’s growth is Riverside’s main economic driver. Riverside’s transportation, retail, employment, innovation and private investment all make up an attractive environment for businesses. Riverside has experienced $1.5 billion in private investment in the past five years while Riverside County’s retail market has been resilient. In 2021, employment gains were largest in leisure services, professional business services, private education and healthcare, and retail trade.
The Inland Empire, which includes Riverside and San Bernardino Counties, has a network of innovation centers that drive investment and job growth. The City of Riverside is committed to building inclusive partnerships for sustainable, resilient economic development through strategies to stimulate a favorable investment climate, welcome entrepreneurship, encourage industry and talent diversity, expand living wage jobs and support our unique quality of place. As a world-class city of Arts and Innovation, Riverside is the city of choice in Southern California: a place where people of diverse talents choose to work and live and where entrepreneurs and businesses choose to locate and invest. The City offers a rich agricultural heritage, unique architecture, affordable housing stock and business friendly environment that is unique to Southern California.
Anchored by two historic performing arts centers managed by Live Nation, downtown Riverside offers the best in nightlife and entertainment, all within steps of the Riverside Convention Center and downtown hotels. A lively restaurant, bar/pub and nightclub scene is a constant in downtown Riverside, with numerous annual festivals, including the famed six-week Festival of Lights (the Top Holiday Lighting event in the United States), the Lunar Fest, and Dicken’s Festival regularly enlivening downtown.
Riverside is also more affordable than major Golden State cities like Los Angeles or San Francisco. Due to Riverside’s warm, dry climate, the average electricity rates are 33% lower than the California average. The Riverside Chamber of Commerce says that the real estate market’s growth is Riverside’s main economic driver. Riverside’s transportation, retail, employment, innovation and private investment all make up an attractive environment for businesses. Riverside has experienced $1.5 billion in private investment in the past five years while Riverside County’s retail market has been resilient. In 2021, employment gains were largest in leisure services, professional business services, private education and healthcare, and retail trade.
The Inland Empire, which includes Riverside and San Bernardino Counties, has a network of innovation centers that drive investment and job growth. The City of Riverside is committed to building inclusive partnerships for sustainable, resilient economic development through strategies to stimulate a favorable investment climate, welcome entrepreneurship, encourage industry and talent diversity, expand living wage jobs and support our unique quality of place. As a world-class city of Arts and Innovation, Riverside is the city of choice in Southern California: a place where people of diverse talents choose to work and live and where entrepreneurs and businesses choose to locate and invest. The City offers a rich agricultural heritage, unique architecture, affordable housing stock and business friendly environment that is unique to Southern California.
Anchored by two historic performing arts centers managed by Live Nation, downtown Riverside offers the best in nightlife and entertainment, all within steps of the Riverside Convention Center and downtown hotels. A lively restaurant, bar/pub and nightclub scene is a constant in downtown Riverside, with numerous annual festivals, including the famed six-week Festival of Lights (the Top Holiday Lighting event in the United States), the Lunar Fest, and Dicken’s Festival regularly enlivening downtown.
Total Space Available
46,834 sqft
Sale Price
$14,000,000
Get in touch
Eric Chen
Lic: 01489184
Blake Torgerson
Lic: 01919955
Kevin Sin
Lic: 02020968