
Riverside, California 92506
This Turnkey Investment Property is a Prime Investment Opportunity, listed at $875,000—positioned well below the $900,059 Fair Market Value by 2%. This valuation gap offers $25,059 in Instant Equity. Featuring a Mint Condition Rating with extensive infrastructure upgrades, a private pool and spa, and a versatile finished garage studio, this home is currently a successful short-term rental. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-end, fully furnished residence in Riverside.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3968 Ramona Drive Subject | $875,000* List Price | 3 | 2 | 2,328 | $387 | - |
A 3630 Castle Reagh Sold | $835,000 | 3 | 3 | 2,533 | $330 | 0.3 mi |
B 5545 Tower Sold | $775,000 | 3 | 3 | 1,820 | $426 | 0.8 mi |
C 4423 Maplewood Place Sold | $690,000 | 3 | 2 | 2,034 | $339 | 0.8 mi |
D 3642 Larchwood Place Sold | $750,000 | 3 | 2 | 1,714 | $438 | 0.3 mi |
E 3370 Pachappa Hill Sold | $720,000 | 3 | 3 | 2,005 | $359 | 0.8 mi |
F 3589 Castle Reagh Active | $875,000 List Price | 4 | 3 | 1,886 | $464 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1940, the property has undergone a comprehensive high-end renovation within the last 5 years. Key updates include a modern chef's kitchen with premium appliances, a newer roof, updated HVAC, tankless water heater, and extensive underground plumbing improvements. The home is in mint, turnkey condition with no immediate maintenance required.
The property includes $45,000 in furnishings and a proven track record as a successful short-term rental, offering an immediate, move-in-ready solution for investors or primary residents.
Significant capital improvements, including underground plumbing, a newer roof, updated HVAC, and a tankless water heater, provide long-term value and peace of mind rarely found in 1940s homes.
The backyard features a smart-controlled pool and spa, complemented by a detached garage renovated with its own mini-split system, ideal for a home office, gym, or studio.
The property is zoned for Central Middle School, which currently holds a low rating of 2/10, potentially limiting its appeal to families prioritizing high-performing public education.
With over 2,300 square feet of living space, the home only offers two bathrooms, which may be a logistical drawback for larger families or high-occupancy rental groups.
Welcome to a beautifully updated pool home offering more than 2,300 square feet of living space in Riverside’s coveted Wood Streets neighborhood. Built in 1940, this distinctive 3-bedroom, 2-bath residence blends original character with thoughtful modern upgrades. Inside, original hardwood flooring and a welcoming fireplace set a warm tone, while the open kitchen and dining area create a natural gathering space for everyday living and entertaining. The kitchen is both functional and refined, featuring a generous island with a second sink, ample prep space, a walk-in pantry, wine cooler, gas cooktop, convection oven, dishwasher, refrigerator, and a convenient pot filler faucet above the range. The dining area is also equipped with an integrated speaker system, enhancing the home’s entertainment experience. An indoor laundry room and two main-level bedrooms add flexibility and ease of living. Extensive underground plumbing improvements provide added value beyond the home’s visible upgrades, along with approximately $45,000 in included furnishings, games, a pool table, and additional items that make the property truly turnkey. The backyard is designed for year-round enjoyment, featuring a private in-ground pool and spa with a new pool heater and iAquaLink smartphone control system, seamlessly connected to the detached two-car garage. The garage has been renovated and finished with its own mini-split system, creating a versatile space ideal for a game room, studio, home gym, office, or entertainment area. Additional improvements include a newer roof, updated HVAC system, driveway, exterior paint, wood flooring, and tankless water heater. Conveniently located near Riverside City College, Downtown Riverside, Mount Rubidoux, shopping, dining, and the historic Mission Inn, this home offers a rare combination of character, modern upgrades, resort-style amenities, and proven versatility.
No exterior & parking available.
Grades PK-6 • 1.0 mi
Grades K-6 • 1.4 mi
Grades K-6 • 1.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 2.3 |
| Square foot | 2,328 | 1,867.892 |
| Lot Size | 8,276 | 8,787.773 |
| Price | $875.0K | $692.3K |
| Price per sq ft | $376 | $386 |
| Built year | 1940 | 1980 |
| HOA | $0 | $151 |
| Days on market | 28 | 55 |
Aug 12, 2026
$875,000
Initial Listing
Apr 3, 2023
$710,000
Public Record
Sep 23, 1998
$175,000
Public Record
Feb 27, 1998
$1,000
Public Record
Dec 13, 1995
$260,000
Public Record