
Riverside, California 92507
This property presents a High-Potential Investment Opportunity with a List Price of $399,900—positioned well below the $383,963 Fair Market Value by -4%. While the property requires significant rehabilitation due to its Condition Rating of 6, the M-2 Zoning and 8,712 sq. ft. lot provide exceptional redevelopment upside. The existing 700 sq. ft. structure offers a foundation for expansion or commercial-residential integration. This is a strategic acquisition for Buy-and-Hold Investors or Contractors seeking to leverage land value in a high-demand Riverside location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2961 11th Subject | $399,900* List Price | 2 | 1 | 700 | $549 | - |
A 3073 Date Active | $380,000 List Price | 2 | 1 | 878 | $433 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1941 with no evidence of renovation, this property exceeds the 50-year threshold for a tear-down. The interior shows a non-functional kitchen with missing cabinetry and no appliances, while the listing emphasizes M-2 zoning and redevelopment potential, indicating the value lies in the land rather than the existing structure.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8712, living area = 700.
The generous 8,712 sq. ft. lot previously held two residences, offering significant redevelopment upside for an additional unit or expansion subject to city approval.
Rare M-2 zoning provides unique flexibility for owner-users or investors to combine residential living with business operations or industrial-related uses.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 700, other record living area = 528.
The existing 700 sq. ft. residence is exceptionally small for a multi-bedroom home, likely requiring an extension or total rebuild to meet modern living standards.
Built in 1941, the property likely necessitates substantial updates to its systems and finishes to align with current building codes and buyer expectations.
AMAZING OPPORTUNITY IN RIVERSIDE! This unique 8,712 sq. ft. parcel, zoned RA-1 7000, offers an exciting combination of residential use, business potential, and future income possibilities. Currently has an approximately 700 sq. ft., 3-bedroom, 1-bath residence on sight. The property provides an excellent opportunity for an owner-user, investor, or entrepreneur looking for flexibility and upside. The property originally featured two residences on the lot, with one having been demolished several years ago. Depending upon applicable City of Riverside requirements and approvals, the additional residence may offer an opportunity for future redevelopment, adding even greater potential to this already versatile property. Imagine living on-site while operating your business, utilizing the property as an income-producing investment, or exploring future development opportunities. With its generous lot size and M-2 zoning, this property offers possibilities that traditional residential properties simply cannot. Conveniently located south of the 91 Freeway and east of 14th Street, the property is near a new elementary school currently being developed, adding further appeal to the surrounding area. You’ll also enjoy close proximity to Downtown Riverside, major freeways, shopping, dining, nightlife, Riverside Plaza, and the iconic Mount Rubidoux. Priced to move and loaded with possibilities, this is an opportunity you won't want to overlook. Properties offering this combination of location, lot size, existing residence, and M-2 zoning are difficult to find. Bring your vision and explore the potential this Riverside property has to offer!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 4.0 |
| Baths | 1.0 | 2.3 |
| Square foot | 700 | 1,867.892 |
| Lot Size | 8,712 | 8,787.773 |
| Price | $399.9K | $692.3K |
| Price per sq ft | $571 | $386 |
| Built year | 1941 | 1980 |
| HOA | $0 | $151 |
| Days on market | 4 | 55 |
Sep 5, 2026
$399,900
Initial Listing