
Riverside, California 92507
This renovated triplex represents a High-Potential Investment Opportunity with a List Price of $915,000, positioned above the $857,568 Fair Market Value. While the price reflects a premium, the property features an Excellent Condition Rating following extensive 2024 renovations. The 15,681 square foot lot provides significant ADU development potential and long-term upside in a high-demand corridor between Downtown and UC Riverside. With separate utility metering, this asset is optimized for efficient management, making it an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey income-producing property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3342 Eucalyptus Avenue Subject | $915,000* List Price | 0 | 0 | 1,325 | $647 | - |
A 3633 Kansas Avenue Active | $948,000 List Price | 0 | 0 | 1,736 | $546 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1903, the property underwent extensive renovations in 2024. The description confirms modern updates to the units and systems, including separate gas and electric meters. Per the criteria, a renovation less than 5 years old in mint condition qualifies as Excellent.
Ideally positioned between Downtown Riverside and UC Riverside, this property is situated in a high-demand corridor that ensures consistent rental interest from students, faculty, and medical professionals.
The oversized 15,681 square foot flat lot offers rare flexibility for future expansion, including the potential for ADU development or additional parking, providing substantial long-term upside.
Extensive 2024 renovations combined with separate gas and electric meters for each unit minimize immediate capital expenditures and simplify property management for the owner.
The list price of $915,000 represents a significant premium over the $532,000 sale price from earlier in 2024, which may challenge appraisal values and initial cap rate expectations.
With a total of 1,325 square feet divided among three units, the predominantly studio-based configuration may limit the tenant profile and result in higher turnover compared to larger multi-bedroom units.
TRIPLEX!!! 1 Bedroom & 2 Studio Units! *3342, 3344, 3340 Eucalyptus Ave., Riverside - Rare opportunity to own a beautifully renovated triplex on an oversized 15,681 square foot flat, usable lot in one of Riverside's most sought-after investment corridors, ideally positioned between Downtown Riverside and UC Riverside. Renovated in 2024, this income-producing property blends classic Riverside character with modern updates, creating an outstanding opportunity for investors, owner-occupants, or those seeking multigenerational living. The desirable unit mix includes two studio units and one 1-bedroom, 1-bath unit, offering broad rental appeal for students, professionals, and long-term tenants. Separate gas and electric meters for each unit provide added convenience and simplified property management. The extensive 2024 renovations give the property a fresh, updated feel while maintaining its timeless character. The oversized lot offers exceptional flexibility with space for future expansion, additional parking, outdoor living areas, or potential ADU development (buyer to verify), making this a property with both immediate income potential and long-term upside. The central Riverside location places the property just minutes from Downtown Riverside's restaurants, coffee shops, entertainment venues, museums, and historic attractions. UC Riverside, Riverside City College, local hospitals, and major employment centers are all nearby, helping support consistent rental demand. Convenient access to the 91, 60, and 215 freeways makes commuting throughout the Inland Empire and surrounding areas simple.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.3 |
| Baths | 0.0 | 3.4 |
| Square foot | 1,325 | 2,079.818 |
| Lot Size | 15,681 | 8,474.636 |
| Price | $915.0K | $838.8K |
| Price per sq ft | $691 | $378 |
| Built year | 1903 | 1978 |
| HOA | $0 | $249 |
| Days on market | 34 | 77 |
Aug 6, 2026
$915,000
Initial Listing
May 30, 2024
$532,000
Public Record