4515 Sandano, Riverside, California 92507, Riverside, 92507 - 6 bed, 3 bath
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Riverside, California 92507
This high-yield student housing asset presents a Prime Investment Opportunity with a List Price of $720,000—positioned well below the $741,418 Fair Market Value by 2%. This valuation gap provides $21,418 in Instant Equity. Boasting a Condition Rating of 3, the property features a 6-bedroom layout optimized for the UCR rental market, located just 3 minutes from campus. Despite unpermitted conversions, the asset offers a proven zero-vacancy history within the Riverside Unified district. This is a strategic acquisition for Buy-and-Hold Investors or Student Housing Specialists.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4515 Sandano Subject | $720,000* List Price | 6 | 3 | 2,112 | $351 | - |
A 4209 Angelo Street Sold | $560,000 | 4 | 2 | 1,458 | $384 | 0.3 mi |
B 4429 Forest Street Sold | $676,000 | 4 | 2 | 1,652 | $409 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property was built in 2006 (18 years old), placing it in the 'Good' age bracket. It received a cosmetic refresh two years ago with new paint and flooring, making it move-in ready. However, the mention of unpermitted bedroom and bathroom conversions prevents an 'Excellent' rating despite the recent surface updates.
Situated just 2-3 minutes from the University of California, Riverside (UCR), this property is in a high-demand area for student housing, ensuring a consistent tenant pool.
The property has been fully occupied with student tenants and boasts a history of zero vacancy, offering immediate and reliable cash flow for investors.
A remodel completed two years ago featuring new flooring and fresh paint reduces the need for immediate capital expenditures and enhances tenant appeal.
Two bedrooms and a full bathroom were converted without permits, which may pose significant challenges for traditional financing, appraisals, and future resale.
The 'drive-by only' restriction and tenant-occupied status limit the ability for prospective buyers to conduct thorough physical inspections prior to making an offer.
Location, location, location. Property is located in the heart of Riverside. It is only 2-3 minutes away from the UCR campus. Property has been fully occupied with student tenants and never have vacancy. Title shows 4 bedrooms and 2.5 baths. However, property now features with 6 bedrooms and 3 full bathrooms, and one is a master suite. Two bedrooms downstairs were converted from the living room, and half bath was converted to a full bath without a permit. Property has been remodeled two years ago with new paint and new flooring with a nicely yard. Please drive by only and please don't disturb tenants. All showings need to be by appointment.
No exterior & parking available.
Grades PK-6 • 0.1 mi
Grades 7-8 • 2.4 mi
Grades 9-12 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 4.0 | 97% |
| Baths | 3.0 | 2.0 | 61% |
| Square foot | 2,112 | 1,654.5 | 73% |
| Lot Size | 6,098 | 8,276 | 22% |
| Price | $720.0K | $647.5K | 68% |
| Price per sq ft | $341 | $390 | 31% |
| Built year | 2006 | 1974 | 70% |
| HOA | $200.0 | $0 | 94% |
| Days on market | 39 | 178 | 3% |
Apr 28, 2026
$720,000
Initial Listing
Jun 1, 2023
$638,000
Public Record
May 28, 2010
$305,000
Public Record
May 31, 2006
$518,500
Public Record