Description
Unique investment opportunity featuring approximately 1.5 acres of flat, usable land with substantial existing improvements and exceptional future income potential. The property is currently improved with a custom-built residence of nearly 3,000 square feet with an attached approximately 1,000-square-foot garage, a detached approximately 2,500-square-foot two-story garage with electricity, plumbing, and its own septic system, plus a large workshop with utilities and a vehicle lift. The existing improvements provide numerous possibilities for investors seeking additional dwelling units, multigenerational living, rental income, or future redevelopment, subject to buyer investigation and approval by the City of Riverside. The attached approximately 1,000-square-foot garage may offer future conversion potential, while the detached approximately 2,500-square-foot two-story garage may also present opportunities for additional living space or an ADU, subject to buyer verification and applicable approvals. Beyond the existing improvements, a significant portion of the approximately 1.5-acre parcel remains open and usable, creating additional flexibility for future development. Buyers are encouraged to investigate the potential to construct additional residences, subdivide the property, or pursue other development strategies based on their intended use and applicable City requirements. Adding to the property’s appeal, the adjacent privately owned parcel of similar size is currently under development with four new homes, illustrating the area’s ongoing growth and residential investment activity. Buyers should independently verify all zoning, subdivision, density, development, and permitting requirements with the City of Riverside. Conveniently located approximately three miles from Downtown Riverside with quick access to the 91, 215, and 60 Freeways, this property offers a rare combination of existing improvements, investment flexibility, development potential, and long-term upside.
Details
| MLS # | IG26150960 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 2004 |
| Days On Site | 60 |
| Listing Provided By | Re/Max Partners | Benjamin Rubalcava |
Features
| SQ Feet | 2,951 |
|---|---|
| Garage | 7 |
| Story(s) | 1 |
| Units | 1 |
| Building(s) | 3 |
| Acreage | 1.50 |
| Property View | Yes |
Interior
| Cooling | Central Air, Whole House Fan |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | Ceiling Fans, Central Vacuum, Granite Counters, High Ceilings, Open Floorplan, Pantry, Recessed Lighting, Wired For Sound, Jack And Jill Bath, Walk In Pantry, Walk In Closets |
| Appliances | Dishwasher, Gas Oven, Gas Range, Microwave, Refrigerator, Dryer, Washer |
| Fireplace Yes / No | Yes |
Exterior
| Roof | Tile |
|---|---|
| Lot Features | Back Yard, Front Yard, Lot Over40000Sqft, Level |
| Fencing | Chain Link |
Parking
| Parking Features | Direct Access, Driveway, Garage, Oversized, Rv Access Parking |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Sewer | Septic Type Unknown |
|---|
Location
| Community Features | Rural |
|---|
Area Information
| State | CA |
|---|---|
| County | Riverside |
| City | Riverside |
| Zip Code | 92501 |
| Area | 252 Riverside |
| Listing VS Median (in 92501) | |
Price: $1,300,000 low | high Med: $599,000 sqft: 2,951 low | high Med: 1,829 $ / sqft: $441 low | high Med: $328 On site: 60 low | high Med: 103 | |
Market Activity 92501
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Learn More About This Property
| State | CA |
|---|---|
| County | Riverside |
| City | Riverside |
| Zip Code | 92501 |
| Area | 252 Riverside |
| Listing VS Median (in 92501) | |
Price: $1,300,000 low | high Med: $599,000 sqft: 2,951 low | high Med: 1,829 $ / sqft: $441 low | high Med: $328 On site: 60 low | high Med: 103 | |
 | $1,300,000875 ClarkRiverside, CA 92501 |