2533 Colgate Way, Riverside, California 92507, Riverside, 92507 - 2 bed, 2 bath
ACTIVE$340,000
2533 Colgate Way, Riverside, California 92507
2Beds
2Baths
1,024Sqft
567Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Unique Amenities: This property is a rare find, offering both an attached garage and a private backyard oasis, which are highly sought-after features for a condominium and enhance its overall value and convenience.
Top Cons:
Requires Updates/Finishes: The description notes it's an opportunity for buyers 'wanting to select their own finishes,' implying the property likely needs cosmetic updates or renovations, which will incur additional costs.
Compared to the nearby listings
Price:$340.0K vs avg $391.5K ($-51,495)29%
Size:1,024 sqft vs avg 1,076 sqft48%
Price/sqft:$332 vs avg $37026%
More Insights
Built in 1977 (48 years old).
Condition: Built in 1977, this property is 47 years old and shows no evidence of significant renovations in decades. The kitchen features extremely dated green laminate countertops, old white cabinets, and a fluorescent box light, despite a newer stainless steel range. The bathroom is equally outdated with a large wall-to-wall mirror, old vanity, and dated fixtures and flooring. Throughout the home, there are popcorn ceilings, old carpeting, and dated wall finishes (e.g., wood paneling in the living room, textured wallpaper in the bathroom). The MLS description itself notes it's an 'Opportunity for buyers wanting to select their own finishes,' explicitly indicating a need for substantial cosmetic updates and rehabilitation to meet current standards, aligning with a 'poor' condition score.
Year Built
1977
Close
-
List price
$340K
Original List price
$340K
Price/Sqft
$332
HOA
$336
Days on market
-
Sold On
-
MLS number
OC25226369
Home ConditionPoor
Features
View-
About this home
RARE FIND! Attached Garage PLUS Private Backyard Oasis. This is one of the few units offering both highly sought-after features, delivering exceptional value and convenience. Located just minutes from UC Riverside, shopping, dining, and freeway access. Features a desirable Open Layout with bright living spaces. Priced for an immediate sale, this property is a Perfect Opportunity for buyers wanting to select their own finishes or Savvy Investors seeking strong rental income. Don’t miss the best-priced home with these unique amenities in this desirable community!
Condition Rating
Poor
Built in 1977, this property is 47 years old and shows no evidence of significant renovations in decades. The kitchen features extremely dated green laminate countertops, old white cabinets, and a fluorescent box light, despite a newer stainless steel range. The bathroom is equally outdated with a large wall-to-wall mirror, old vanity, and dated fixtures and flooring. Throughout the home, there are popcorn ceilings, old carpeting, and dated wall finishes (e.g., wood paneling in the living room, textured wallpaper in the bathroom). The MLS description itself notes it's an 'Opportunity for buyers wanting to select their own finishes,' explicitly indicating a need for substantial cosmetic updates and rehabilitation to meet current standards, aligning with a 'poor' condition score.
Pros & Cons
Pros
Unique Amenities: This property is a rare find, offering both an attached garage and a private backyard oasis, which are highly sought-after features for a condominium and enhance its overall value and convenience.
Prime Location: Strategically located just minutes from UC Riverside, shopping centers, dining options, and freeway access, making it highly desirable for students, commuters, and families alike.
Investor Potential: Explicitly highlighted as a 'Perfect Opportunity' for savvy investors seeking strong rental income, indicating a robust demand for rentals in the area, likely due to its proximity to UC Riverside.
Desirable Layout: Features an open layout with bright living spaces, which is a modern and appealing design choice that maximizes natural light and creates a spacious feel.
Competitive Pricing: Priced for an immediate sale and described as the 'best-priced home with these unique amenities in this desirable community,' suggesting excellent value for its features and location.
Cons
Requires Updates/Finishes: The description notes it's an opportunity for buyers 'wanting to select their own finishes,' implying the property likely needs cosmetic updates or renovations, which will incur additional costs.
Age of Property: Built in 1977, the property is nearly 50 years old, which may suggest dated systems (e.g., HVAC, plumbing, electrical) or aesthetics that could require future maintenance or upgrades.
Monthly Association Fees: A monthly association fee of $336.0 adds a recurring cost to homeownership, which can impact affordability and long-term budgeting for potential buyers.