
Riverside, California 92506
This Colonial Revival Single Family Residence represents a Strong Value Opportunity, listed at $869,900—positioned well above the $795,626 Fair Market Value by 9%. While the property requires modernization, its Fair Condition Rating is offset by significant ADU Potential on a large 10,454-square-foot lot. Located in the Riverside Unified School District, this historic asset offers a unique blend of character and development upside. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants looking to leverage historic charm for long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4045 Chapman Subject 4 bd · 3 ba · 2,588 sqft · $307 | $869,900* List Price | 4 | 3 | 2,588 | $307 | - |
A 4910 Brockton Avenue Sold 3 bd · 3 ba · 1,766 sqft · $399 · 0.1 mi | $705,000 | 3 | 3 | 1,766 | $399 | 0.1 mi |
B 5545 Tower Sold 3 bd · 3 ba · 1,820 sqft · $426 · 0.7 mi | $775,000 | 3 | 3 | 1,820 | $426 | 0.7 mi |
C 6014 Elenor Street Sold 3 bd · 2 ba · 2,092 sqft · $292 · 0.7 mi | $610,000 | 3 | 2 | 2,092 | $292 | 0.7 mi |
D 4450 Beechwood Active 3 bd · 2 ba · 1,839 sqft · $381 · 0.3 mi | $699,900 List Price | 3 | 2 | 1,839 | $381 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1961, this home is well-maintained but significantly dated, fitting the >20-year criteria for updates. The kitchen features older dark wood cabinetry and appliances, and the interior contains popcorn ceilings and wallpaper. While functional and move-in ready, the systems and finishes likely exceed 20-30 years in age and require modernization.
The property includes a second structure on a generous 10,454-square-foot lot, offering a prime opportunity for rental income, a guest house, or a home office.
Situated on the historic Chapman Place, the home benefits from a rich local legacy and a highly desirable community atmosphere famous for its annual holiday traditions.
This well-maintained Colonial Revival residence features classic lines and original wood floors, offering character and charm that is rare for the Riverside market.
Built in 1961, the property may require significant capital investment to modernize major systems like electrical, plumbing, or HVAC to meet current efficiency standards.
The potential for an ADU is not yet guaranteed, requiring the buyer to navigate city permitting and eligibility requirements which could delay or limit development plans.
Rare opportunity on historic Chapman Place! This well-maintained two-story Colonial Revival home offers 2,588 square feet with four bedrooms and three bathrooms, and it is only the second time on the market since it was built in 1961. Wood floors add warmth and character, and the classic Colonial Revival lines give the home a timeless look. The 10,454-square-foot lot is a real bonus. A second structure on the property has ADU potential, which opens the door to multigenerational living, guest quarters, a home office, or rental income (buyer to verify permitting and eligibility with the City of Riverside). The street itself is part of Riverside's history. Chapman Place is named for Deloraine P. Chapman, a Civil War veteran and early citrus leader who arrived in Riverside in 1887. After his death in 1920, his five daughters deeded a strip of his former orange grove to create the street, which was extended through to Brockton Avenue in 1941. Chapman's own 1887 home still stands at the corner of Magnolia Avenue and Chapman Place, one of the oldest houses on Magnolia. Today the street is known for its Christmas lights and decorations, a tradition that draws the community every December. Homes with this much character, space, and potential on a street with this much history rarely come along. Schedule your showing today.
No exterior & parking available.
Grades PK-6 • 1.0 mi
Grades K-6 • 1.5 mi
Grades K-6 • 1.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 3.0 | 2.2 |
| Square foot | 2,588 | 1,854.896 |
| Lot Size | 10,454 | 8,680.308 |
| Price | $869.9K | $698.4K |
| Price per sq ft | $336 | $380 |
| Built year | 1961 | 1982 |
| HOA | $0 | $156 |
| Days on market | 17 | 57 |
Oct 8, 2026
$869,900
Initial Listing