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1971 7th, Riverside, California 92507, Riverside, 92507 - bed, bath

1971 7th, Riverside, California 92507 home-pic-0
ACTIVE UNDER CONTRACT$685,000
1971 7th, Riverside, California 92507
0Bed
0Bath
1,914Sqft
6,970Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Income Potential & Versatility: The duplex offers excellent income potential, allowing for owner-occupancy in one unit while renting out the other, or investing in both for strong cash flow. The front unit is vacant and ready for occupancy, while the rear unit is tenant-occupied, providing immediate rental income.
Top Cons:
Historic Age of Property: Built in 1898, the property is very old, which may indicate potential for significant deferred maintenance, outdated infrastructure (e.g., plumbing, electrical), and higher long-term repair and renovation costs.

Compared to the nearby listings

Price:$685.0K vs avg $680.0K (+$5,000)50%
Size:1,914 sqft vs avg 2,064 sqft50%
Price/sqft:$358 vs avg $36950%

More Insights

Built in 1898 (127 years old).
Condition: The property was built in 1898, indicating very old underlying infrastructure. While the front unit has received recent cosmetic updates (kitchen, bathroom, flooring, paint) and major system upgrades (new split AC/heating system, water heater), making it move-in ready, the rear unit's condition is less clear, likely older, and includes an unpermitted garage conversion. The overall property, despite the front unit's improvements, still likely has many major components (e.g., original plumbing, electrical, foundation) that are functional but show signs of being outdated due to its age, requiring more than minor updates for the entire structure. The unpermitted conversion is a significant issue.
Year Built
1898
Close
-
List price
$685K
Original List price
$685K
Price/Sqft
$358
HOA
-
Days on market
-
Sold On
-
MLS number
IV25253194
Home ConditionFair
Features
Patio
View-

About this home

Introducing 1971 & 1973 7th Street. A prime Riverside duplex offering excellent income potential! Live in one unit and rent out the other, or invest in both for strong cash flow. The front unit features 3 bedrooms, 2 bathrooms, and approximately 1,276 sq. ft. of living space, including a spacious living room, dining area, and kitchen. A versatile utility room provides space for a large walk-in pantry adjacent to the laundry area. This unit is equipped with a brand-new split system for heating and air conditioning, as well as a water heater installed approximately a year ago for added comfort and efficiency. The long, gated driveway offers ample parking and added security. The detached rear unit includes 2 bedrooms, 1 bathroom, and approximately 638 sq. ft. of living area. One of the garages has been converted to the second bedroom (permits unknown). This unit is accessible from the back alley, with gated entry, one car garage, additional parking, and a convenient carport. The rear 2-bedroom unit is currently tenant-occupied, providing immediate rental income, while the front 3-bedroom unit is vacant and ready for occupancy, ideal for an owner-user or investor seeking flexibility. Located in the heart of Riverside, this property is close to UCR, RCC, and downtown amenities, including shops, dining, and entertainment. Enjoy quick access to major freeways, making commuting a breeze. A fantastic opportunity to own a versatile duplex, perfect for investors or owner-occupants alike!

Condition Rating
Fair
The property was built in 1898, indicating very old underlying infrastructure. While the front unit has received recent cosmetic updates (kitchen, bathroom, flooring, paint) and major system upgrades (new split AC/heating system, water heater), making it move-in ready, the rear unit's condition is less clear, likely older, and includes an unpermitted garage conversion. The overall property, despite the front unit's improvements, still likely has many major components (e.g., original plumbing, electrical, foundation) that are functional but show signs of being outdated due to its age, requiring more than minor updates for the entire structure. The unpermitted conversion is a significant issue.
Pros & Cons

Pros

Income Potential & Versatility: The duplex offers excellent income potential, allowing for owner-occupancy in one unit while renting out the other, or investing in both for strong cash flow. The front unit is vacant and ready for occupancy, while the rear unit is tenant-occupied, providing immediate rental income.
Recent Upgrades (Front Unit): The front unit benefits from a brand-new split system for heating and air conditioning, as well as a water heater installed approximately a year ago, enhancing comfort and efficiency for the new owner or tenant.
Prime Location: Located in the heart of Riverside, the property offers proximity to major institutions like UCR and RCC, downtown amenities including shops, dining, and entertainment, and quick access to major freeways, boosting its rental appeal and long-term value.
Separate Access & Ample Parking: Each unit features separate, gated access and ample parking options, including a long gated driveway for the front unit and a one-car garage, additional parking, and a carport for the rear unit, providing privacy and convenience for residents.
Established Rental Income: The rear 2-bedroom unit is currently tenant-occupied, ensuring immediate and stable rental income for the buyer from day one.

Cons

Historic Age of Property: Built in 1898, the property is very old, which may indicate potential for significant deferred maintenance, outdated infrastructure (e.g., plumbing, electrical), and higher long-term repair and renovation costs.
Unpermitted Conversion Risk: One of the garages in the rear unit has been converted to a second bedroom with 'permits unknown,' posing a potential legal and financial risk for the buyer, including the possibility of code violations or costly remediation.
Discrepancy in Unit Upgrades: While the front unit boasts recent HVAC and water heater upgrades, the description does not mention similar updates for the rear unit, suggesting it may be in a less updated condition and potentially require future investment to match the front unit's amenities.

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