5050 Canyon Crest, Riverside, California 92507, Riverside, 92507 - 2 bed, 3 bath
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Riverside, California 92507
This High-Potential Investment Opportunity is listed at a List Price of $440,000, positioned slightly above the $428,853 Fair Market Value. While the property requires cosmetic updates, its Fair Condition Rating is bolstered by a recently replaced HVAC system and a premium 2-car garage. Its proximity to UCR and the Canyon Crest shopping center ensures consistent rental demand. This asset is an ideal acquisition for Buy-and-Hold Investors or first-time buyers looking to build long-term value through strategic interior modernization.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5050 Canyon Crest Subject | $440,000* List Price | 2 | 3 | 1,302 | $329 | - |
A 5050 Canyon Crest 7 Sold | $465,750 | 2 | 2 | 1,302 | $358 | 0.0 mi |
B 5050 Canyon Crest Drive 22 Sold | $490,000 | 2 | 3 | 1,299 | $377 | 0.0 mi |
C 600 Central Avenue 332 Sold | $340,000 | 2 | 2 | 1,076 | $316 | 0.6 mi |
D 1006 Via Zapata Sold | $565,000 | 3 | 3 | 1,728 | $327 | 0.5 mi |
E 375 Central Avenue #14 Sold | $386,000 | 2 | 2 | 960 | $402 | 0.7 mi |
F 5555 Canyon Crest 2g Active Under Contract | $435,000 List Price | 2 | 2 | 1,124 | $387 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1986 (38 years old), which typically falls into the 'Poor' age bracket; however, the recent replacement of the HVAC system and the 'very nice' description suggest it is well-maintained. The interior finishes shown in the laundry area appear original and dated, indicating the kitchen and bathrooms likely require cosmetic updates rather than a full structural rehab.
The property is ideally situated within walking distance of the Canyon Crest shopping center and in close proximity to UCR, making it highly attractive for students, faculty, and investors.
The recently replaced AC and heating unit provides significant value and peace of mind, ensuring energy efficiency and saving the buyer from immediate capital expenditures.
The inclusion of a private 2-car garage is a premium feature for a condominium, offering secure parking and additional storage space rarely found in similar units.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =3049, other record lot size in square feet = 2178. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1302, other record living area = 1413.
The association fee of $424 per month is relatively high, which may impact the overall affordability and monthly carrying costs for budget-conscious buyers.
Built in 1986 with no mention of recent interior renovations, the property may require additional investment to modernize the kitchen and bathrooms to meet current market trends.
Very nice condo located walking distance from Canyon Crest shopping center and UCR is just down the street. The condo has 2 bedrooms and 2 bathrooms. Large kitchen with lots of counter space. master has walk in closet. This unit comes with a 2 car garage. AC/Heater was just replaced.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 3.0 | 2.0 | 85% |
| Square foot | 1,302 | 1,121 | 74% |
| Lot Size | 3,049 | - | 92% |
| Price | $440.0K | $386.0K | 64% |
| Price per sq ft | $338 | $361 | 33% |
| Built year | 1986 | 1982 | 51% |
| HOA | $424.0 | $385 | 74% |
| Days on market | 5 | 155 | 3% |
Jun 1, 2026
$440,000
Initial Listing
May 3, 2024
$460,000
Public Record
Jul 18, 2002
$150,000
Public Record