
Riverside, California 92504
This Value-Add Residential Asset is listed at $500,000, representing a stable entry point relative to its $454,911 Fair Market Value. Carrying a Condition Rating of 5, the 1927 structure requires a full restoration but offers a $10,000 buyer credit and a generous 8,276 sqft lot with a detached structure primed for ADU conversion and RV access. Located in the Riverside Unified district serving grades K-12 near Ramona High, the property’s high lot utilization provides a clear path to forced appreciation and long-term ROI. This is a strategic acquisition for Fix-and-Flip Investors or Contractors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3463 Washington Street Subject | $500,000* List Price | 3 | 1 | 990 | $460 | - |
A 3684 Cortez Street Sold | $500,000 | 3 | 2 | 1,242 | $403 | 0.8 mi |
B 7429 Diamond Sold | $415,000 | 2 | 1 | 840 | $494 | 0.5 mi |
C 7270 Fiesta Avenue Sold | $545,000 | 3 | 2 | 1,116 | $488 | 0.7 mi |
D 4723 Arlington Avenue Sold | $500,000 | 2 | 1 | 1,156 | $433 | 0.6 mi |
E 4794 Granada Avenue Active | $499,000 List Price | 3 | 2 | 1,274 | $392 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1927 with no evidence of recent renovations, this property requires a full rehab. The kitchen and bathroom are severely dated (30-50+ years) with original or aged cabinetry and fixtures. Interior photos show significant wear, including peeling floor tiles, dated wall heaters, and unfinished attic/outbuilding spaces. The listing description explicitly invites buyers to 'bring their vision to life,' confirming the need for extensive structural and cosmetic restoration.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8276, living area = 990.
The property is eligible for a $10,000 homebuyer assistance program to cover closing costs or down payments, providing a significant financial advantage for qualified buyers.
A detached structure with three separate rooms and existing plumbing offers a head start for an ADU conversion, guest house, or rental income opportunity.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
The home is sold in its current condition with unfinished spaces and no warranties, necessitating a buyer prepared for substantial investment and repair work.
With only one bathroom serving three potential sleeping areas in a Jack-and-Jill configuration, the layout may be inconvenient for families or multi-generational living.
Eligible for homebuyer assistance program providing qualified buyers $10,000 to cover closing costs, rate buy-down and/or down payment. Great opportunity for buyers looking to bring their vision to life, this home offers added space, multiple structures, and a versatile layout on a generous lot with RV access. 2 bedroom home with converted attic and detached unfinished living space - ADU. Inside, the home opens to a comfortable living room that flows into a dining area or secondary living space. The kitchen provides ample storage. Both bedrooms are tucked away and connected Jack-and-Jill style to the full bathroom, creating a simple, efficient layout. A converted porch adds additional square footage ideal for a bonus room, office, or extended living area. Out back is where the potential really opens up. One detached structure is divided into three separate rooms, each with its own entrance, well suited for an ADU setup, or workspace. One of the rooms already includes water access and a shower, offering a head start for future conversion. A second outbuilding functions as an outdoor workshop with an attached carport tall enough for RV parking. The yard still leaves room to create, whether that's bringing the lawn back to life, adding garden beds, or designing an outdoor space that fits your vision. Broker and agents do not represent or guarantee the accuracy of the square footage, income, expenses, condition, development potential, bedroom/ bathroom count, lot size or lot lines, dimensions, permitted or non-permitted spaces, or school eligibility. Buyer is advised to independently verify the accuracy of all information with appropriate professionals. There are no warranties or guarantees, buyer to rely solely on his/her/their own findings.
No exterior & parking available.
Grades K-6 • 0.9 mi
Grades PK-6 • 1.2 mi
Grades PK-6 • 1.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.0 | 10% |
| Square foot | 990 | 1,518 | 6% |
| Lot Size | 8,276 | 8,276 | 50% |
| Price | $500.0K | $619.5K | 7% |
| Price per sq ft | $505 | $414 | 84% |
| Built year | 1927 | 1960 | 3% |
| HOA | $0 | $0 | 50% |
| Days on market | 13 | 201 | 1% |
Apr 9, 2026
$500,000
Initial Listing