527 Ruiz Street, Redlands, California 92374, Redlands, 92374 - 2 bed, 1 bath
ACTIVE$999,900
527 Ruiz Street, Redlands, California 92374
2Beds
1Bath
700Sqft
6,804Lot
Price Vs. Estimate
The estimated value ($959,779.01) is $40,120.99 (4%) lower than the list price ($999,900). This property may be overpriced.
Key pros and cons
Top Pros:
Prime Downtown Location: Positioned in the heart of Downtown Redlands, offering excellent walkability and access to local amenities.
Top Cons:
Limited Living Space: The existing structure is a compact 700 sqft with 2 beds and 1 bath, which is small for a single-family residence.
Compared to the nearby listings
Price:$999.9K vs avg $602.5K (+$397,400)97%
Size:700 sqft vs avg 1,648 sqft1%
Price/sqft:$1.4K vs avg $35999%
More Insights
Built in 1951 (74 years old).
Condition: Built in 1951, this property is over 70 years old with no indication of major renovations in the past 50 years. The listing description and property analysis explicitly market it to investors/developers, emphasizing the land's value and stating that the existing structure 'likely requires substantial renovation or demolition for redevelopment.' The exterior image shows significant neglect and disrepair, further supporting that the current dwelling is unlivable or beyond economical repair, with its value primarily in the land.
Year Built
1951
Close
-
List price
$1,000K
Original List price
$1,000K
Price/Sqft
$1,428
HOA
-
Days on market
-
Sold On
-
MLS number
IG25105462
Home ConditionTear down
Features
Good View: City Lights
ViewCity Lights
About this home
NOW AVAILABLE, LOCATED IN THE HEART OF DOWNTOWN REDLANDS. THIS PROPERTY IS SITUATED IN THE VILLAGE CENTER PLANNED ZONE AND WILL BE A DELIGHTFUL ACQUISITION FOR YOUR PORTFOLIO. ANY INVESTOR/DEVELOPER SHOULD STOP IN THEIR TRACKS TO SEE THE VALUE IN THIS PROPERTY.
Condition Rating
Tear down
Built in 1951, this property is over 70 years old with no indication of major renovations in the past 50 years. The listing description and property analysis explicitly market it to investors/developers, emphasizing the land's value and stating that the existing structure 'likely requires substantial renovation or demolition for redevelopment.' The exterior image shows significant neglect and disrepair, further supporting that the current dwelling is unlivable or beyond economical repair, with its value primarily in the land.
Pros & Cons
Pros
Prime Downtown Location: Positioned in the heart of Downtown Redlands, offering excellent walkability and access to local amenities.
Significant Development Potential: Situated within the Village Center Planned Zone, making it highly attractive for investors and developers seeking redevelopment opportunities.
Generous Lot Size: A substantial 6,804 sqft lot provides ample space for potential expansion or new construction in a desirable urban setting.
Desirable City Lights View: The property boasts attractive city lights views, enhancing its overall appeal.
Strong Investment Focus: Explicitly marketed towards investors and developers, highlighting its value as a strategic portfolio acquisition.
Cons
Limited Living Space: The existing structure is a compact 700 sqft with 2 beds and 1 bath, which is small for a single-family residence.
High List Price for Existing Structure: The $999,900 list price is considerably high for the current 700 sqft, 1951-built home, suggesting the value is primarily in the land and development potential rather than the existing dwelling.
Age and Condition of Existing Home: Built in 1951, the property is an older structure that likely requires substantial renovation or demolition for redevelopment, incurring additional costs.