4160 Chestnut Street, Riverside, California 92501, Riverside, 92501 - 0 bed, 0 bath
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Riverside, California 92501
This Craftsman Triplex Investment is a High-Potential Investment Opportunity listed at $799,000—positioned well below the $944,446 Fair Market Value by 15%. This valuation gap provides $145,446 in Instant Equity. Featuring a Condition Rating of 4, the property offers significant upside through interior modernization. Its prime location near the Mission Inn and a rare street-to-alley lot with eight parking spaces drive consistent tenant demand and low turnover. This asset is ideal for Buy-and-Hold Investors or Owner-Occupants looking to capitalize on Riverside’s historic downtown market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4160 Chestnut Street Subject | $799,000* List Price | 0 | 0 | 2,227 | $424 | - |
A 3311 Lime Sold | $763,000 | 0 | 0 | 2,145 | $356 | 0.8 mi |
B 3049 Mulberry Street Sold | $675,000 | 0 | 0 | 1,952 | $346 | 1.0 mi |
C 3049 Mulberry Street Sold | $675,000 | 5 | 3 | 1,952 | $346 | 1.0 mi |
D 4308 Lime Street Active | $724,995 List Price | 0 | 0 | 2,546 | $285 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1908, this Craftsman triplex is well-maintained but features outdated interior finishes. The kitchen contains older tile countertops, mid-range wood cabinetry, and dated white appliances. The bathroom is functional but very basic with older fixtures. While the original hardwood floors are a significant asset and the property appears clean, the overall style and major systems reflect a lack of recent comprehensive renovation, consistent with the 'fair' criteria for properties showing signs of being outdated.
Situated in the heart of Downtown Riverside, this property is within walking distance to the historic Mission Inn, premier dining, and vibrant nightlife, ensuring consistently high rental demand.
The rare street-to-alley level parcel includes three garages and five off-street parking spaces, providing an abundance of parking that is highly coveted in a downtown setting.
Built in 1908, the triplex features timeless Craftsman details including glossy hardwood floors, a large shady porch, and a fireplace, contributing to its high tenant retention and aesthetic appeal.
Due to the property's 1908 construction, potential buyers should anticipate higher maintenance costs and the need for periodic updates to aging electrical, plumbing, and structural systems.
With two of the three units being one-bedroom layouts (including one loft), the property may have a more limited tenant pool compared to multi-family units with larger bedroom counts.
A UNIQUE CRAFTMAN DESIGNED 3 UNIT INVESTMENT PROPERTY IN DOWNTOWN RIVERSIDE - THIS PROPERTY IS ON A STREET TO ALLEY PARCEL THAT LEVEL AND USABLE - THERE ARE 3 GARAGES AND 5 OFF STREET PARKING SPACES - THE BACKYARD IS MASSIVE AND USABLE WITH ORANGE AND GRAPEFRIUT TREES - THE SUBJECT PROPERTY IS IN WALKING DISTANCE TO THE MISSION INN, THE GREAT RESTAURANTS, THE NIGHT LIFE AND ENTERTAINMENT - THE ENTRY TO THE UNITS IS LARGE SHADY PORCH - THE FIRST UNIT HAS 2 BEDROOMS AND ONE BATH AND ENCLOSED ENTRY PORCH- THE FLOORS ARE GLOSSY HARD WOOD - THERE IS A LARGE COUNTRY KITCHEN AND A SEPARATE LAUNDRY ROOM - THE ROOMS ARE LIGHT AND AIRY - THERE IS A PRIVATE EXIT TO THE BIG REAR YARD - THE SECOND UNIT HAS 1 BEDROOM AND 1 BATH WITH A FIREPLACE WITH HEARTH AND MANTEL AND HARDWOOD FLOORS AND CHARM GLORE - THE THRID UNIT HAS 1 BEDROOM WHICH IS A UPSTAIRS LOFT - THERE IS OFF STREET PARKING FOR 4 CARS - THE SPECIAL FEATURE IS LARGE FENCE SIDE YARD FOR GARDENING OR BBQ WITH FRIENDS OR FAMILY - THERE IS HARDLY ANY TURNOVER WITH THE TENANTS BECAUSE THE QUALITY OFF THE BUILDING AND LOCATION
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,227 | 1,952 | 89% |
| Lot Size | 10,890 | 6,534 | 89% |
| Price | $799.0K | $640.0K | 89% |
| Price per sq ft | $359 | $359 | 50% |
| Built year | 1908 | 1916 | 11% |
| HOA | $0 | $0 | 50% |
| Days on market | 33 | 200 | 11% |
Mar 20, 2026
$799,000
Initial Listing
Aug 28, 1996
$18,500
Public Record