2586 University Avenue, Riverside, California 92507, Riverside, 92507 - 7 bed, 7 bath
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Riverside, California 92507
Analysis of 2586 University Avenue, Riverside, California 92507 is currently available with a list price of $749,500. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Riverside Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is extensive renovation needed.
Built in 1894, this historic property is in a state of significant disrepair and requires a total gut renovation. Interior images reveal extensive damage to walls and ceilings with exposed lath, peeling paint, and debris. The kitchen and bathrooms are non-functional and outdated, and the overall structure shows signs of long-term neglect. The listing's focus on C3 zoning and development upside further indicates that the property is not currently move-in ready and requires substantial rehabilitation of all major systems.
The rare C3 zoning allows for both residential and commercial use, providing investors or business owners with diverse options for a large-scale residence, income-producing rental, or commercial enterprise.
Featuring 7 bedrooms and 7 bathrooms in close proximity to universities, the property is ideally configured for high-yield student housing or a multi-unit rental strategy.
The 0.23-acre lot includes two detached rear structures with ADU conversion potential, supported by current architectural exploration with the city to maximize the site's density and value.
Built in 1894, the property likely requires substantial ongoing maintenance and modernization of aging systems, which may involve higher costs due to its historic nature.
The listing requires the buyer to verify bedroom/bathroom counts and ADU legality, suggesting potential unpermitted work that could complicate financing or future development plans.
This 3,570 SF property features 7 bedrooms and 7 bathrooms (buyer to verify) on a 0.23-acre C3-zoned lot, permitting both residential and commercial use. The site includes two detached rear structures, one believed to be an ADU and the other a garage with potential ADU conversion, offering additional development upside (buyer to verify zoning and permitting). Ideally located near universities and key amenities, the property provides flexible use as a large residence, income-producing rental, or commercial opportunity. Note: The current owner has engaged an architect to explore potential development options with the City.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 7.0 | 4.0 | 99% |
| Baths | 7.0 | 2.0 | 99% |
| Square foot | 3,570 | 1,654.5 | 97% |
| Lot Size | 10,018.8 | 8,276 | 68% |
| Price | $749.5K | $647.5K | 74% |
| Price per sq ft | $210 | $390 | 1% |
| Built year | 1894 | 1974 | 1% |
| HOA | $0 | $0 | 50% |
| Days on market | 102 | 178 | 25% |
Feb 24, 2026
$749,500
Initial Listing
Aug 30, 2017
$220,000
Public Record
Nov 21, 2012
$200,000
Public Record
Aug 22, 2008
$185,000
Public Record