2944 6th, Riverside, California 92507, Riverside, 92507 - 9 bed, 4 bath
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Riverside, California 92507
This Renovated Multi-Unit Asset is a Strong Value Opportunity, listed at $950,000—positioned well below the $1,048,107 Fair Market Value by 9%. This valuation gap provides $98,107 in Instant Equity. Boasting a Mint Condition Rating, the property features Three Distinct Units with Modern Shaker Cabinetry and stone counters. Located in the Riverside Unified School District near UC Riverside, the location ensures consistent rental demand. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield house-hack.
Property is new construction or fully renovated.
Although originally built in 1915, the property has undergone extensive recent renovations within the last 5 years. Interior images show modern white shaker cabinetry, stone countertops, stainless steel appliances, updated LVP flooring, and contemporary bathroom fixtures including new walk-in showers and vanities, meeting the criteria for mint condition.
With a total of 9 bedrooms across three distinct units, including a 5-bedroom guest house and a remodeled ADU, this property offers exceptional cash-flow potential and versatility for student housing or multi-family leasing near UC Riverside.
Situated in the heart of Downtown Riverside near the Mission Inn and major new developments like Mission Lofts, the property is positioned in a high-growth area with strong long-term appreciation potential and high tenant demand.
The ADU and guest house have been remodeled, allowing an investor to command market rents for those units immediately while reducing the initial capital expenditure required for property-wide upgrades.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2872, other record living area = 1098. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 9, other record bedroom count = 2.
The 5-bedroom guest house is serviced by only a single bathroom, representing a significant functional obsolescence that may limit tenant appeal and reduce the maximum achievable rent per room.
Originally constructed in 1915, the property may require ongoing maintenance or costly future upgrades to aging structural, electrical, and plumbing systems typical of century-old residences.
This 3 unit property features a 3 bed 2 bath home, and two remodeled units 1 bed 1 bath ADU Rear Unit and a 5 bed 1 bath guest House. Opportunity knocks in the heart of Downtown Riverside. These centrally located units offer investors a chance to own in an area experiencing continued growth and revitalization. Positioned near notable developments such as the highly regarded Mission Lofts and just a short distance from the recently approved 8-story hotel project, this property is surrounded by clear signs of upward momentum and long-term potential. The location provides immediate access to the best of Downtown Riverside, including acclaimed dining, entertainment, arts, and cultural destinations. Residents can enjoy the historic Mission Inn, Riverside Art Museum, Fox Performing Arts Center, Riverside Philharmonic, Mt. Rubidoux hiking trails, and the Downtown Riverside Farmers Market. The property is also conveniently located near UC Riverside, adding to its appeal and rental demand. With its prime location and proximity to major downtown attractions and new development, this property presents a strong value-add opportunity in one of Riverside’s most dynamic neighborhoods.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 9.0 | 0.0 | 83% |
| Baths | 4.0 | 0.0 | 67% |
| Square foot | 2,872 | 2,786 | 50% |
| Lot Size | 10,019 | 6,970 | 67% |
| Price | $950.0K | $817.5K | 50% |
| Price per sq ft | $331 | $369 | 33% |
| Built year | 1915 | 1940 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 6 | 189 | 17% |
Apr 16, 2026
$950,000
Initial Listing
Apr 1, 2022
$629,000
Public Record
Mar 26, 2021
$630,000
Public Record
Jun 21, 2017
$540,000
Public Record
Mar 1, 1995
$150,000
Public Record