2586 University Avenue, Riverside, California 92507, Riverside, 92507 - 7 bed, 7 bath
2586 University Avenue
Riverside, California 92507
Property Price
SUMMARY
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.
Condition Analysis
OVERALL CONDITION SCORE
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 The kitchen and bathrooms are non-functional and outdated, and the overall structure shows signs of long-term neglect.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.
PROSSTRENGTHS & OPPORTUNITIES
- Flexible C3 Zoning
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.
- High-Density Income Potential
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.
- Significant Development Upside
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.
CONSRISKS & DEFICIENCIES
- Historic Maintenance Requirements
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.
- Permitting and Verification Risks
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.
About 2586 University Avenue
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.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1894
- Lot Size
- 10,018.8 Sq. Ft.
Interior
- Total Bedrooms
- 7
- Total Bathrooms
- 7 (7 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 7.0 | 4.0 | 99% |
| Baths | 7.0 | 2.0 | 99% |
| Square foot | 3,570 | 1,773 | 97% |
| Lot Size | 10,018.8 | 8,276 | 65% |
| Price | $749.5K | $655.0K | 76% |
| Price per sq ft | $210 | $367 | 1% |
| Built year | 1894 | 1977 | 1% |
| HOA | $0 | $0 | 50% |
| Days on market | 11 | 172 | 1% |
Pricing History
Listed for Sale
Feb 24, 2026
$749,500
Initial Listing
Sold
Aug 30, 2017
$220,000
Public Record
Sold
Nov 21, 2012
$200,000
Public Record
Sold
Aug 22, 2008
$185,000
Public Record