2077 Patterson Street, Riverside, California 92507, Riverside, 92507 - 0 bed, 0 bath
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Riverside, California 92507
This Dual-Unit Residential Income Asset is currently listed at $869,000, which is positioned above the $729,724 Fair Market Value. While the property lacks immediate equity, it offers a High-Potential Investment Opportunity through its Independent Utility Metering and versatile 3-bed/2-bath and 2-bed/1-bath configuration. With a Condition Rating of 4, the property is functional but requires modernization to maximize rental yields. This is a strategic acquisition for Buy-and-Hold Investors or House Hackers seeking to leverage the dual-unit layout for long-term cash flow.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2077 Patterson Street Subject | $869,000* List Price | 0 | 0 | 1,748 | $417 | - |
A 1971 7th Sold | $685,000 | 0 | 0 | 1,914 | $358 | 0.3 mi |
B 2121 Down St Sold | $625,000 | 0 | 0 | 1,641 | $381 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1963, the property features some cosmetic updates including laminate flooring and fresh paint. However, it lacks central HVAC, relying on window units, and the exterior stucco and overall systems appear dated. While functional and move-in ready, it requires modernization to meet higher condition standards.
The property features two separate residences on a single lot, offering a versatile investment opportunity for rental income or a multi-generational living setup.
Both units are equipped with separate electric and gas meters, which simplifies property management and reduces the owner's utility expense obligations.
The combination of a 3-bedroom, 2-bathroom rear house and a 2-bedroom front house provides a desirable mix that appeals to a broad range of tenant demographics.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6534, other record lot size in square feet = 6969. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1748, other record living area = 624.
The current list price of $899,000 reflects a significant markup from the recent $715,000 sale price, which may impact the immediate capitalization rate for investors.
The front unit is relatively small at approximately 640 square feet and utilizes exterior laundry hookups, which may be viewed as a drawback for premium-market tenants.
Excellent income-producing investment opportunity featuring TWO UNITS ON A SINGLE LOT! The front house offers 2 beds, 1 bath (approx. 640 sq ft) with an open kitchen, ceiling fan, exterior laundry hookups, and a front grass yard with a gazebo and paver flooring. Accessible via a spacious driveway, the rear house features 3 beds, 2 baths (approx. 1,110 sq ft) with a separate laundry area. Combined living area is approx. 1,748 sq ft per appraisal. Units feature independent electric and gas meters. Conveniently located near freeways, shopping, and amenities. Buyer to verify all information, permits, and square footage.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 1,748 | 2,310 |
| Lot Size | 6,534 | 10,019 |
| Price | $869.0K | $849.2K |
| Price per sq ft | $497 | $405 |
| Built year | 1963 | 1969 |
| HOA | $0 | $0 |
| Days on market | 63 | 79 |
Jul 2, 2026
$869,000
$899,000
-3% Price Drop
Initial Listing
May 20, 2026
$899,000
Initial Listing
Apr 25, 2024
$715,000
Public Record
Jan 4, 2006
$425,000
Public Record
Jan 5, 2005
$349,000
Public Record
Jun 15, 2004
$249,000
Public Record