
Riverside, California 92504
This Value-Add Investment Asset is listed at $500,000, positioned relative to its $450,690 Fair Market Value. Carrying a Condition Rating of 5, the 1927-built structure requires a comprehensive overhaul but offers a clear path to forced appreciation through strategic renovation. The property’s core strength is the expansive 8,276-square-foot lot featuring RV access and a detached structure with plumbing, providing exceptional ADU Conversion Potential. Located in the Riverside Unified district near Ramona High and Matthew Gage Middle, this is a high-utility project for Fix-and-Flip Investors or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3463 Washington Street Subject | $500,000* List Price | 2 | 1 | 990 | $455 | - |
A 7429 Diamond Sold | $415,000 | 2 | 1 | 840 | $494 | 0.5 mi |
B 4723 Arlington Avenue Sold | $500,000 | 2 | 1 | 1,156 | $433 | 0.6 mi |
C 3684 Cortez Street Sold | $500,000 | 3 | 2 | 1,242 | $403 | 0.8 mi |
D 7270 Fiesta Avenue Sold | $545,000 | 3 | 2 | 1,116 | $488 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1927 with no evidence of major renovations in over 30 years. While it has fresh paint, the kitchen and bathroom are severely dated, and images show significant ceiling cracks and aged systems like wall heaters, indicating a need for a full rehab.
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 features a detached structure divided into three rooms with an existing shower, providing an excellent foundation for an ADU conversion, rental income, or a versatile home office setup.
A generous 8,276 sqft lot offers ample outdoor space, a dedicated workshop, and a tall carport specifically designed for RV access and storage, which is a rare find at this price point.
Dating back to 1927 and sold with no guarantees on condition or permits, the home is a 'fixer' that likely requires significant capital improvement to address aging systems and structural integrity.
At just 990 square feet with a single Jack-and-Jill bathroom, the main residence offers a compact and potentially restrictive layout for modern families seeking more privacy or interior room.
Great opportunity for buyers looking to bring their vision to life, this property offers added space, multiple structures, and a versatile layout on a generous lot with RV access. NEW PAINT. Inside, the home opens to a comfortable living room that flows into a dining area or secondary living space. The kitchen provides ample storage and a solid footprint to reimagine. Both bedrooms are tucked away and connected Jack-and-Jill style to the full bathroom, creating a simple, efficient layout. Upstairs find a large bonus room loft, perfect for storage or an additional living area. A converted porch adds additional square footage—ideal for another 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 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. For the buyer looking to add value and make something their own, this is the kind of property that doesn’t come around often. 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 | 2.0 | 3.0 | 12% |
| Baths | 1.0 | 2.0 | 10% |
| Square foot | 990 | 1,518 | 7% |
| Lot Size | 8,276 | 8,276 | 50% |
| Price | $500.0K | $620.0K | 8% |
| Price per sq ft | $505 | $415 | 83% |
| Built year | 1927 | 1960 | 3% |
| HOA | $0 | $0 | 50% |
| Days on market | 2 | 198 | 1% |
Apr 21, 2026
$500,000
Initial Listing