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3112 1st Street, Riverside, California 92507, Riverside, 92507 - 4 bed, 4 bath

3112 1st Street, Riverside, California 92507 home-pic-0
ACTIVE$1,489,000$3,600/sqft
3112 1st Street, Riverside, California 92507
4Beds
4Baths
3,600Sqft
29,185Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Exceptional Versatility & Mixed-Use Potential: The property boasts Commercial/Industrial zoning with grandfathered residential duplexes, a separate workshop/garage, and ample space for large vehicles, offering diverse income streams and business opportunities.
Top Cons:
Conditional Grandfathered Status: The non-conforming residential use is conditional and will be lost if units are vacant for more than six months, posing a risk and requiring diligent management to preserve current income streams.

Compared to the nearby listings

Compared against 0 nearby listings

More Insights

Built in 1950 (76 years old).
Condition: Despite being built in 1950, the property features 'nicely updated units' with 'upgraded kitchen cabinets,' stainless steel appliances, laminate flooring, and crown molding, as stated in the description and visible in the images. The kitchens and bathrooms, while not ultra-modern, are clean, functional, and appear to have been renovated within the last 5-15 years, making the units move-in ready with no immediate renovation required. The exterior and landscaping are also well-maintained, and the AC unit appears relatively modern. Some stylistic choices, like the faux finish walls in one unit, might be dated but do not indicate poor condition.
Year Built
1950
Close
-
List price
$1.49M
Original List price
$1.49M
Price/Sqft
$414
HOA
-
Days on market
-
Sold On
-
MLS number
CV25108199
Home ConditionGood
Features
View-

About this home

BACK ON THE MARKET TODAY! AWESOME PROPERTY! DETACHED SIDE-BY-SIDE DUPLEX WITH SEPARATE GARAGE/WORKSHOP IDEAL FOR USE TO RUN YOUR OWN INDUSTRIAL COMMERCIAL BUSINESS! located in the heart of the City near Downtown Riverside. It features 2 separate nicely updated units, their own address, with laminate floors, crown molding, appliances with upgraded kitchen cabinets. Each one their own private yards along with a well built carport, storage space, plus 1 has an additional basement, and automatic gates to each. The landscape looks very nice and manicured with various fruit trees for each. The exterior of the units show very well and you can appreciate the attention to details throughout the inside and out of the homes. $2,500 each established renters on a month to month. Approx. 3,600 square feet total living space and 29,185 square foot lot. The back of the lot is fenced off WITH NO ACCESS by the tenants. There's a very tall carport port and separate workshop/garage with automatic rollup door and a restroom on the side for visitors. It's at the corner of 1st and Commerce St. It has a very large side access on the side with ample room for large vehicle access and parking. Zoned Commercial, industrial, non-conforming/grand fathered in for rental of the 2 homes. Room for vehicles, semi trucks, trailers, large vehicles may be stored as so long as they all belong to the owner of record. It automatically loses the grandfather status if the units are vacant more than six months... Could be used as commercial offices, however it may lose it's residential status (verify) Next to the railroad tracks with convenient access to the 91/215/60 freeways. Please note: A double wide clean office modular with AC and restroom is on the lot and available for sale now for $35k Sold separately unless you want to keep as part of the sale, intended for removal. Disclaimer ALL information provided it deemed reliable but not guaranteed. Interested parties must verify all information contained here-in as deemed necessary. NOTE: Cross referrence with Residential Income Listing ID #C25072410 and Commercial Listing #CV25222417 to satisfy themselves to all aspects of the property in, out and around not limited to permitted and intended use, zoning, square footage, etc. PLEASE DO NOT APPROACH THE OCCUPANTS FOR ANY REASON ***BEWARE OF LARGE GUARD DOGS AT EACH UNIT. MAY BITE!!!

A
Ann Casillas
Listing Agent
Condition Rating
Good
Despite being built in 1950, the property features 'nicely updated units' with 'upgraded kitchen cabinets,' stainless steel appliances, laminate flooring, and crown molding, as stated in the description and visible in the images. The kitchens and bathrooms, while not ultra-modern, are clean, functional, and appear to have been renovated within the last 5-15 years, making the units move-in ready with no immediate renovation required. The exterior and landscaping are also well-maintained, and the AC unit appears relatively modern. Some stylistic choices, like the faux finish walls in one unit, might be dated but do not indicate poor condition.
Pros & Cons

Pros

Exceptional Versatility & Mixed-Use Potential: The property boasts Commercial/Industrial zoning with grandfathered residential duplexes, a separate workshop/garage, and ample space for large vehicles, offering diverse income streams and business opportunities.
Strong Income-Generating Asset: Two nicely updated residential units with established month-to-month tenants currently generate $5,000/month, providing immediate and substantial cash flow.
Prime Location & Accessibility: Strategically located in the heart of the city near Downtown Riverside, on a corner lot with large vehicle access, and offering excellent proximity to major freeways (91/215/60).
Large & Flexible Lot: A substantial 29,185 sq ft lot (0.67 acres) with a segregated back portion provides significant space for expansion, owner's business operations, or future development.
Well-Maintained & Updated Residential Units: Both duplex units are nicely updated with modern finishes including laminate floors, crown molding, and upgraded kitchens, complemented by private yards, carports, and automatic gates, enhancing tenant appeal.

Cons

Conditional Grandfathered Status: The non-conforming residential use is conditional and will be lost if units are vacant for more than six months, posing a risk and requiring diligent management to preserve current income streams.
Proximity to Railroad Tracks: Location adjacent to railroad tracks may result in noise pollution and vibrations, potentially affecting residential tenant comfort and long-term property appeal.
Tenant Access & Showing Challenges: The presence of guard dogs and strict instructions not to approach tenants creates significant logistical hurdles for property showings and buyer due diligence.
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