475 Transit Avenue, Riverside, California 92507, Riverside, 92507 - 3 bed, 2 bath
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Riverside, California 92507
This Versatile Single-Family Residence is listed at $485,000—positioned well below the $488,582 Fair Market Value by 1%. This acquisition is bolstered by a $20,000 grant, offering a unique financial advantage for buyers. The home features a Condition Rating of 3, including a renovated kitchen with granite counters, a backyard patio, and mountain views. Located 10 minutes from UC Riverside within the Riverside Unified School District, the property offers a functional layout and RV parking. This is an ideal opportunity for first-time buyers or Buy-and-Hold Investors.
Property is move-in ready.
Despite the 1929 build date, the interior shows a clear renovation within the last 5-15 years, featuring a functional kitchen with stainless steel appliances, granite countertops, updated tile flooring throughout, and a modern HVAC condenser, making it move-in ready.
The availability of a $20,000 grant significantly enhances affordability, making this an exceptional entry-point opportunity for first-time homebuyers.
Located just 10 minutes from UC Riverside, the property offers high rental demand potential and long-term investment value due to its proximity to a major university.
The lot provides rare flexibility with ample space for RV parking, multiple vehicles, or work trucks, catering to buyers with specific storage or recreational needs.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1140, other record living area = 760.
Built in 1929 and marketed as a 'canvas for customization,' the property likely requires significant capital investment for modern upgrades and repairs.
At 1,140 square feet for a 3-bedroom, 2-bathroom configuration, the interior layout may feel cramped for families seeking more spacious common areas.
Potential** potential *** $20,000 grant available to buy this home use for closing cost or buy down your rate!!! Opportunity is knocking in Riverside! 10 mins from UCR This. 3-bedroom, 2-bath single-story home offers great potential and sits on a versatile lot that sets it apart. The home features a functional layout with natural light throughout, providing the perfect canvas for a buyer to customize and make it their own. Ideal for first-time buyers, investors, or anyone looking to add value. The standout feature is the lot, offering ample space for RV parking, multiple vehicles, recreational toys, or work trucks. This level of flexibility is hard to find and may appeal to buyers needing extra parking or storage options. A great opportunity with both personal and investment potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 46% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,140 | 1,651 | 14% |
| Lot Size | 4,792 | 8,385 | 16% |
| Price | $485.0K | $647.5K | 11% |
| Price per sq ft | $425 | $396 | 69% |
| Built year | 1929 | 1970 | 11% |
| HOA | $0 | $0 | 50% |
| Days on market | 86 | 165 | 15% |
Apr 14, 2026
$485,000
$499,999
-3% Price Drop
Initial Listing
Mar 22, 2026
$499,999
Initial Listing
Feb 20, 2024
$475,000
Public Record
Oct 4, 2021
$410,000
Public Record
Aug 26, 2013
$108,000
Public Record