3198 Washington, Riverside, California 92504, Riverside, 92504 - 3 bed, 2 bath
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Riverside, California 92504
This property presents a High-Potential Investment Opportunity with a List Price of $655,000—positioned well above the $635,477 Fair Market Value by -3%. While currently priced slightly above market, the 11,761 sqft lot offers significant ADU & Expansion Potential for forced appreciation. With a Condition Rating of 4, the home requires modernization, making it a strategic Value-Add Asset. This property is an ideal acquisition for Buy-and-Hold Investors or first-time buyers looking to leverage the large lot for long-term equity growth.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3198 Washington Subject | $655,000* List Price | 3 | 2 | 1,330 | $478 | - |
A 3558 Washington Sold | $650,000 | 3 | 2 | 1,316 | $494 | 0.4 mi |
B 3620 Hoover Sold | $630,000 | 3 | 2 | 1,265 | $498 | 0.5 mi |
C 7142 Potomac Sold | $500,000 | 3 | 1 | 1,224 | $408 | 0.6 mi |
D 4794 Granada Avenue Sold | $520,000 | 3 | 2 | 1,274 | $408 | 1.0 mi |
E 3684 Cortez Street Sold | $500,000 | 3 | 2 | 1,242 | $403 | 0.9 mi |
F 3463 Washington Street Sold | $465,000 | 2 | 1 | 990 | $470 | 0.2 mi |
G 7450 Emerald Street Sold | $520,000 | 3 | 1 | 1,112 | $468 | 0.5 mi |
H 7703 Cassia Avenue Sold | $605,000 | 4 | 2 | 1,372 | $441 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1966, this 58-year-old property is described as 'well-kept' but heavily emphasizes 'potential' and 'opportunity,' indicating that the kitchen, bathrooms, and major systems are likely dated and exceed the 20-year threshold for modern updates.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11761, living area = 1330.
The generous 11,761 sqft lot provides significant opportunity for an Accessory Dwelling Unit (ADU), allowing for potential rental income or a private guest retreat.
Ideally situated with easy access to the 91 Freeway, local schools, and shopping centers, making it a highly convenient choice for daily commuters.
Built in 1966, the home may require updates to its original systems and cosmetic finishes to meet modern efficiency and design standards.
With a discrepancy between the listing data and description suggesting as few as one bathroom, the home may face functional challenges for larger households.
Welcome to 3198 Washington Street, a charming Riverside single-story home with warmth, pride of ownership, and wonderful future potential. Offering 3 bedrooms, 2 bathrooms, approximately 1,330 square feet of living space, and a 1-car garage, this well-kept home has remained within one family ownership, creating a special opportunity for its next chapter. The floor plan offers comfortable everyday living, while the property provides flexibility for future possibilities, including potential ADU use. Conveniently located near the 91 Freeway, shopping, dining, schools, and commuter routes, this Riverside gem is ideal for a first-time buyer, investor, or homeowner looking for a property with character, location, and room to grow. Buyer to verify ADU requirements and allowances with the City of Riverside.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,330 | 1,723 |
| Lot Size | 11,761 | 8,712 |
| Price | $655.0K | $676.0K |
| Price per sq ft | $492 | $395 |
| Built year | 1966 | 1977 |
| HOA | $0 | $125 |
| Days on market | 20 | 58 |
Jul 2, 2026
$655,000
Initial Listing
Apr 14, 1998
$80,000
Public Record