5051 Victoria Avenue, Riverside, California 92506, Riverside, 92506 - 3 bed, 3 bath

5051 Victoria Avenue, Riverside, California 92506 home-pic-0
ACTIVE$915,000
5051 Victoria Avenue, Riverside, California 92506
3Beds
3Baths
2,423Sqft
20,473Lot

Price Vs. Estimate

The estimated value ($339,195.86) is $575,804.14 (62%) lower than the list price ($915,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 20473, living area = 2423.
Top Cons:
Aging HVAC and Roof: While updated 12 years ago, these major systems are approaching the latter half of their typical lifespan, potentially requiring future maintenance or replacement sooner than newer installations.

Compared to the nearby listings

Price:$915.0K vs avg $728.8K (+$186,175)75%
Size:2,423 sqft vs avg 1,954 sqft71%
Price/sqft:$378 vs avg $38641%

More Insights

Built in 1962 (63 years old).
Condition: This property, built in 1962, has undergone significant and extensive renovations, making it move-in ready. The description highlights remodeled bathrooms and an updated kitchen with stainless steel appliances and granite countertops, which are visible in the images and appear modern and well-maintained. Crucially, major systems like plumbing, drainage, sewer, and electrical have been updated, and dual-pane windows installed. The HVAC and roof were redone about 12 years ago, placing them within their expected lifespan and aligning with the 'Good' criteria of being extensively renovated within 5 to 15 years for major systems. While some elements like the living room carpet and certain light fixtures might not be brand new, the overall condition is strong, functional, and requires no immediate renovations.
Year Built
1962
Close
-
List price
$915K
Original List price
$925K
Price/Sqft
$378
HOA
-
Days on market
-
Sold On
-
MLS number
IG25065241
Home ConditionGood
Features
Excellent View: City Lights, Golf Course
Patio
ViewCity Lights,Golf Course

About this home

Price Improvement! Seller motivated! This Stunning single story home offers timeless elegance, modern comforts and incredible potential. All within an exceptional district. Walking distance to POLY high school. Located directly across from the lush fairways at Victoria Club Golf Course. Enjoy the one of a kind hilltop views. It exudes exclusivity and privacy. With breathtaking views through the expansive floor to ceiling windows. This floor plan is both functional and inviting. Some of the best features are the 4th bedroom that was converted into a Jr master suite making 3 large rooms. This can always be converted back. The bathrooms have been remodeled. The kitchen cabinets were updated, stainless appliances, granite countertops & breakfast bar. Owners are willing to leave the washer, dryer and refrigerator. There is a large formal living room that opens to the family room that has a grand fireplace & large windows and french doors leading to a gorgeous backyard. The open concept is fantastic. The sprawling lot features a back entrance with endless possibilities including room to build a custom ADU. With a back entrance. The large yard has been tastefully landscaped with plenty of citrus trees, including oranges, lemons and tangerines. The home has been thoughtfully updated throughout, with paid off solar, new plumbing, drainage and sewer system, and an updated electrical system and dual pane windows. Hvac and roof were redone about 12 years ago. This property offers prime location with easy access to Riverside's finest amenities. Whether your'e entertaining guests or simply savoring the serene golf course views, this property is a dream come true. Schedule your showing today. A home like this doesn't come around often.

Condition Rating
Good

This property, built in 1962, has undergone significant and extensive renovations, making it move-in ready. The description highlights remodeled bathrooms and an updated kitchen with stainless steel appliances and granite countertops, which are visible in the images and appear modern and well-maintained. Crucially, major systems like plumbing, drainage, sewer, and electrical have been updated, and dual-pane windows installed. The HVAC and roof were redone about 12 years ago, placing them within their expected lifespan and aligning with the 'Good' criteria of being extensively renovated within 5 to 15 years for major systems. While some elements like the living room carpet and certain light fixtures might not be brand new, the overall condition is strong, functional, and requires no immediate renovations.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 20473, living area = 2423.
Exceptional Location & Views: Prime location directly across from Victoria Club Golf Course, offering unique hilltop and golf course views, and walking distance to POLY high school.
Extensive Modern Upgrades: Significant recent investments in paid-off solar, new plumbing, drainage, sewer system, updated electrical, and dual-pane windows, ensuring long-term efficiency and reduced maintenance.
Updated Interior Spaces: Remodeled bathrooms and an updated kitchen featuring stainless appliances, granite countertops, and a breakfast bar, providing modern comfort and aesthetics.
Spacious & Flexible Layout: Functional single-story open concept with large formal living and family rooms, floor-to-ceiling windows, and a flexible bedroom configuration (4th converted to Jr. master, convertible back).
Large Lot with ADU Potential: Sprawling, tastefully landscaped lot with citrus trees, a back entrance, and significant potential for building a custom ADU, offering versatility and investment opportunity.

Cons

Aging HVAC and Roof: While updated 12 years ago, these major systems are approaching the latter half of their typical lifespan, potentially requiring future maintenance or replacement sooner than newer installations.
Reduced Bedroom Count: The conversion of a 4th bedroom into a Jr. master suite results in a 3-bedroom configuration, which may not suit buyers specifically seeking a 4-bedroom home without additional renovation.
Market Signal of Price Adjustment: The 'Price Improvement' and 'Seller motivated' statements suggest the property may have faced challenges at its initial price point, potentially indicating a need for competitive pricing or extended market time.

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