11257 Norwood Avenue, Riverside, California 92505, Riverside, 92505 - 3 bed, 1 bath
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Riverside, California 92505
This Land Development Opportunity is listed at $780,000, representing a strategic acquisition based on its 40,511 sqft Flat Lot rather than the existing structure, which holds a $565,561 Fair Market Value. The 1941 residence is in Poor Condition, necessitating a cash-only purchase, but the City of Riverside’s support for Planned Residential Development (PRD) offers immense value-add potential. This density play near Valley View Elementary in the Riverside Unified District aligns with local infill trends for multiple single-family homes and ADUs. This high-utility asset is perfectly suited for Land Developers and Cash Investors.
Property is land value only, full reconstruction required.
The property is an 83-year-old structure marketed specifically as a land development opportunity for investors. The listing emphasizes the flat, usable acre of land and the potential for a Planned Residential Development (PRD), while describing the existing 1941 house as a 'fixer' requiring cash-only offers, indicating it is likely unlivable or not financeable in its current state.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 40511, living area = 1126.
The City of Riverside encourages a Planned Residential Development (PRD) on this site, allowing for creative cluster designs, multiple single-family homes, and potential ADUs.
The property features nearly an acre (40,511 sqft) of flat, usable land, providing a rare and versatile canvas for large-scale residential infill projects.
The existing 1941 residence is a 'fixer' in need of significant renovation or demolition, making it suitable only for investors and land developers.
The requirement for cash-only offers significantly limits the pool of potential buyers by excluding those who rely on traditional mortgage financing.
Project opportunity for investors and land developers! The existing house is a fixer, CASH OFFERS only. This residential property has almost an acre of flat usable land. The City of Riverside has encouraged a planned residential development (PRD) to explore creativity, and cluster designs for single-family houses with potential ADU. The PRD is often used for in-fill in existing neighborhoods. These characteristics allow greater flexibility in lot size, setbacks, and housing type diversity. Check with The City of Riverside for further information and requirements.
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades K-5 • 0.7 mi
Grades PK-5 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.0 | 13% |
| Square foot | 1,126 | 1,493 | 18% |
| Lot Size | 40,511 | 7,841 | 97% |
| Price | $780.0K | $640.0K | 87% |
| Price per sq ft | $693 | $427 | 98% |
| Built year | 1941 | 1977 | 7% |
| HOA | $0 | $0 | 50% |
| Days on market | 35 | 172 | 3% |
Mar 18, 2026
$780,000
Initial Listing
Aug 28, 2015
$245,000
Public Record
Apr 22, 2015
$195,000
Public Record