5604 Tower Road, Riverside, California 92506, Riverside, 92506 - 3 bed, 2 bath
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Riverside, California 92506
This Mid-Century Ranch is a Strong Value Opportunity, listed at $764,900—positioned well below the $707,643 Fair Market Value by 8%. Featuring a Good Condition Rating, the home includes a heated pool, spa, and a versatile detached bonus structure ideal for multi-generational living. While the local school district presents mixed ratings, the property’s extensive system upgrades and large lot size offer significant long-term stability. This is an ideal acquisition for Owner-Occupants seeking a lifestyle-focused residence or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5604 Tower Road Subject | $729,900* List Price | 3 | 2 | 1,595 | $422 | - |
A 6044 Elenor Street Sold | $595,000 | 3 | 2 | 1,799 | $331 | 0.8 mi |
B 6176 Wiehe Sold | $665,000 | 4 | 2 | 1,645 | $404 | 0.7 mi |
C 4008 Bandini Sold | $550,000 | 3 | 2 | 1,664 | $331 | 0.6 mi |
D 4423 Maplewood Place Sold | $690,000 | 3 | 2 | 2,034 | $339 | 0.3 mi |
E 4735 Oakwood Place Sold | $650,000 | 2 | 2 | 1,544 | $421 | 0.1 mi |
F 5654 Tower Active | $709,000 List Price | 3 | 2 | 1,652 | $429 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While originally built in 1957, the property is in well-maintained, move-in ready condition with significant recent capital improvements. Key systems are excellent, featuring a new roof, new HVAC, new water heater, updated electrical panel, and updated plumbing/sewer lines. The kitchen and baths are functional and updated with stone counters and modern vanities, though the oak cabinetry reflects a slightly older renovation style (approx. 10-15 years), placing it firmly in the 'Good' category.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8276, living area = 1595.
The property features a separate, fully built-out structure with a bedroom, bathroom, and kitchen area, offering exceptional flexibility for multi-generational living, a guest suite, or a high-end home office.
Major high-ticket items have been recently replaced or updated, including a new roof, AC/heating unit, water heater, electrical panel, and main line sewer piping, significantly reducing future maintenance costs for the buyer.
With over 90 days on the market and eight consecutive price reductions from the original $855,000, the property may carry a stigma of being initially overpriced, potentially affecting buyer perception of value.
The property is zoned for a middle school with a low rating of 2/10, which may be a significant drawback for families prioritizing high-performing educational districts.
NEW PRICE IMPROVEMENT! WOOD STREET / GRAND-CHARMING MID-CENTRY RANCH WITH POOL, BONUS STRUCTURE & UPGRADES! Nestled in one of Riverside's most secluded and highly desirable neighborhoods, this timeless mid-century ranch character, comfort, and incredible outdoor living just minutes from the amenities of Downtown Riverside and Magnolia Center. The home is filled with original charm and thoughtful updates, featuring a large formal living room with a classic masonry fireplace, a spacious dining area off the kitchen and a conveniently located adjacent laundry room. A massive family room with a fireplace and sliding French glass doors opens beautifully to the backyard oasis, creating seamless indoor-outdoor living, Backyard is complete with a sparkling heated pool, spa and newly updated Aluma wood covered patio. There are 3 bedrooms, including a primary suite with an ensuite bath, walk-in closet, and additional wardrobe closet. Additional highlights include a new roof, new Ac/heat unit, new water heater, new shutters in family room, updated piping including main line sewer pipe, updated electrical panel, laminated flooring throughout, detached car garage, shed, and an extended driveway with street parking. At the rear of the property, you'll find a separate, fully built-out structure featuring a bedroom, bathroom and kitchen area- offering flexible space for guests, hobbies, a home office, or whatever you see fit. Well, maintained by owner, this special property is ready to welcome its next chapter.
No exterior & parking available.
Grades PK-6 • 1.1 mi
Grades K-6 • 2.0 mi
Grades K-6 • 2.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,595 | 1,866.5 | 35% |
| Lot Size | 8,276 | 9,583 | 38% |
| Price | $729.9K | $726.3K | 51% |
| Price per sq ft | $458 | $395 | 74% |
| Built year | 1957 | 1964 | 39% |
| HOA | $0 | $0 | 50% |
| Days on market | 120 | 135 | 41% |
May 19, 2026
$729,900
$764,900
-5% Price Drop
Initial Listing
May 11, 2026
$764,900
$770,000
-1% Price Drop
Initial Listing
Apr 26, 2026
$770,000
$775,000
-1% Price Drop
Initial Listing
Mar 28, 2026
$775,000
$795,000
-3% Price Drop
Initial Listing
Mar 18, 2026
$795,000
$799,999
-1% Price Drop
Initial Listing
Mar 9, 2026
$799,999
$815,900
-2% Price Drop
Initial Listing
Mar 4, 2026
$815,900
$820,000
+0% Price Increase
Initial Listing
Feb 13, 2026
$820,000
$855,000
-4% Price Drop
Initial Listing
Feb 7, 2026
$855,000
Initial Listing
Feb 17, 2022
$650,000
Public Record
Apr 23, 2010
$305,000
Public Record
Apr 27, 2001
$192,500
Public Record