
Riverside, California 92506
This Spacious Single-Story Townhome represents a Prime Investment Opportunity, listed at $625,000—positioned well below the $639,629 Fair Market Value by 2%. This valuation gap offers $14,629 in Instant Equity for the buyer. Featuring a Condition Rating of 2 due to extensive 2024 upgrades, including a new HVAC and full-home re-pipe, the property is essentially turnkey. With its flexible floor plan and low-maintenance lifestyle, this home is an ideal acquisition for Owner-Occupants or first-time buyers seeking long-term value.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2656 Laramie Road Subject 2 bd · 3 ba · 2,030 sqft · $315 | $625,000* List Price | 2 | 3 | 2,030 | $315 | - |
A 2565 Laramie Sold 3 bd · 3 ba · 2,030 sqft · $304 · 0.1 mi | $618,000 | 3 | 3 | 2,030 | $304 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Property underwent significant renovations in 2024, including a full-home water re-pipe, new HVAC system, and new ductwork. Interior features updated bathrooms with modern tile and fixtures, fresh paint, and new flooring. While kitchen cabinetry retains a classic style, it is paired with modern stainless steel appliances and the home's major systems are all less than 5 years old.
The property features significant recent capital improvements including a full-home water re-pipe, new HVAC system and ductwork, and new insulation, significantly reducing immediate maintenance concerns for the buyer.
With over 2,000 square feet of living space, high ceilings, and a flexible floor plan that allows for a third bedroom, this home offers the scale of a traditional residence with the convenience of single-level living.
The HOA covers major expenses including roof repairs, exterior painting, and front yard landscaping, providing a low-maintenance lifestyle and protecting the long-term curb appeal of the community.
At $535 per month, the association dues represent a significant recurring carrying cost that may impact the overall affordability and borrowing power for some buyers.
While the property includes three private patios, the small lot size and lack of a traditional backyard may be a drawback for buyers with pets or those desiring a private garden area.
VICTORIA AVENUE! – SPACIOUS LIVING WITH A CASUAL CAREFEE LIFESTYLE! Looking for room to spread out without all the exterior maintenance that comes with a traditional home? This 2,030-square-foot, single-story townhome offers an appealing combination of space, comfort, and convenience. Whether you're busy with work and family, enjoy traveling, or simply want more time to do the things you love, this home is worth a closer look! High ceilings and abundant natural light enhance the spacious interior, featuring a generous living room with a gas fireplace, a large separate dining area, and three private patios for morning coffee, outdoor dining, or relaxing in the fresh air. Originally designed as a two-bedroom home with a den/office, the flexible floor plan offers the option of using the office as a third bedroom. An attached two-car garage adds everyday convenience. Located in the desirable Palm Terrace Townhomes community, an enclave of just 45 homes off Victoria Avenue, this property comes with an HOA that covers an extensive list of services and maintenance. These include insurance on the physical structure, roof maintenance and repairs, exterior painting, siding repairs, the community pool and restroom facilities, a gated RV lot, weekly front yard landscaping and water, and maintenance of the common areas. With so much exterior upkeep covered, you can spend less time worrying about those responsibilities and more time enjoying your home and your life. The sellers have made numerous significant improvements since 2024, including a full-home water re-pipe, new HVAC system and ductwork, removal of the old attic insulation and installation of new blown-in insulation, a new QuietCool whole-house fan, updated interior and exterior lighting, relocation of the laundry from the garage into the home, fresh interior paint, bathroom updates, drywalled the garage interior and epoxied the floor, and more! The community offers a mix of working professionals, families and retirees with convenient access to freeways, schools, churches, shopping, and other everyday amenities. One more important detail: this property is classified as a single-family residence/PUD rather than a condominium, which may provide additional financing options depending on the lender and loan program. Space to live comfortably, private patios to enjoy the outdoors, meaningful recent improvements for an easy-living lifestyle—all in one convenient location. Come take a look!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 4.0 |
| Baths | 3.0 | 2.2 |
| Square foot | 2,030 | 1,854.896 |
| Lot Size | 3,049 | 8,680.308 |
| Price | $625.0K | $698.4K |
| Price per sq ft | $308 | $380 |
| Built year | 1978 | 1982 |
| HOA | $535.0 | $156 |
| Days on market | 17 | 57 |
Oct 8, 2026
$625,000
Initial Listing
Sep 17, 2024
$615,000
Public Record
Aug 17, 2023
$590,000
Public Record
Jun 19, 2018
$389,500
Public Record
Apr 8, 2009
$242,500
Public Record
Apr 26, 2002
$200,000
Public Record