5742 Magnolia, Riverside, California 92506, Riverside, 92506 - 3 bed, 3 bath
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Riverside, California 92506
This Spacious Single-Family Residence represents a Strong Value Opportunity, listed at $699,000—positioned well below the $675,546 Fair Market Value by -3%. While the list price reflects a premium, the property offers significant upside through its ADU Development Potential and Modern 2007 Construction in a historic district. Featuring a Good Condition Rating, the home includes a Granite Kitchen, central HVAC, and a private yard. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a versatile, move-in ready asset with long-term income potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5742 Magnolia Subject | $699,000* List Price | 3 | 3 | 1,710 | $395 | - |
A 5663 Osburn Sold | $635,000 | 3 | 2 | 1,772 | $358 | 0.3 mi |
B 4008 Bandini Sold | $550,000 | 3 | 2 | 1,664 | $331 | 0.3 mi |
C 6044 Elenor Street Sold | $595,000 | 3 | 2 | 1,799 | $331 | 0.2 mi |
D 3725 Tahoe Court Sold | $588,000 | 3 | 3 | 1,536 | $383 | 0.9 mi |
E 4423 Maplewood Place Sold | $690,000 | 3 | 2 | 2,034 | $339 | 0.5 mi |
F 4061 Maplewood Pl Active | $799,900 List Price | 3 | 2 | 1,555 | $514 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 2007 (17 years old), the property falls within the 10-20 year age bracket for 'Good' condition. It is well-maintained and move-in ready with functional systems including central HVAC and a tankless water heater. Recent cosmetic updates such as new carpet and fresh interior/exterior paint complement the existing granite countertops and modern open-concept layout.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7841, living area = 1710.
Built in 2007, this residence offers the rare benefit of modern construction standards, energy efficiency, and an open-concept layout within the highly coveted and historic Wood Streets neighborhood.
The detached two-car garage includes space above specifically noted for ADU potential, offering a significant opportunity for the buyer to generate rental income or create a multi-generational living space.
Situated on Magnolia Avenue, a major Riverside thoroughfare, the property is subject to higher traffic volume and noise levels than typical interior neighborhood lots.
While the local high school is well-rated, the assigned middle school has a low rating of 2, which may be a deterrent for families prioritizing specific public education performance.
Welcome to Wood Streets living at its finest. Located at 5742 Magnolia Avenue in the heart of Riverside, this beautifully crafted single-story residence blends modern construction with timeless neighborhood charm. Built in 2007 and thoughtfully designed with quality finishes throughout, this 3-bedroom, 2.5-bath home offers approximately 1,710 square feet of comfortable living space on a spacious lot. Step inside to discover an open-concept layout featuring granite countertops, recessed lighting, a breakfast bar, and a spacious family room with a cozy gas and wood-burning fireplace. The private primary suite includes a walk-in closet, dual vanities, soaking tub, and separate shower, while the secondary bedrooms share a convenient Jack-and-Jill bathroom. Outside, enjoy a private back yard with mature fruit trees (Avocado, Lemon, Pomegranate). Designed with comfort and efficiency in mind, the home features sound-insulated front windows, double-insulated 2 x 4 construction, drywalled bull nose corners, central HVAC, a tankless water heater, indoor laundry room, and fire sprinklers throughout. Recently painted inside and out, other upgrades include new carpet, ceiling fans, and new roll up garage door with opener. Off street parking is provided in the driveway behind the house, and you could easily add a privacy gate. Utilize the space above the detached two-car garage to build an ADU to generate extra income. Located in one of Riverside’s most desirable historic neighborhoods, this property offers close proximity to shopping, dining, and entertainment at Riverside Plaza. Also close to hiking at Mt Rubidoux, The Mission Inn, local parks, award winning medical providers, and top-rated schools. This is your opportunity to newer-built home in an established neighborhood filled with classic Riverside appeal.
No exterior & parking available.
Grades PK-6 • 0.5 mi
Grades K-6 • 1.6 mi
Grades K-6 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 2.0 | 52% |
| Square foot | 1,710 | 1,873 | 41% |
| Lot Size | 7,841 | 9,583 | 29% |
| Price | $699.0K | $726.3K | 43% |
| Price per sq ft | $409 | $392 | 56% |
| Built year | 2007 | 1965 | 95% |
| HOA | $0 | $0 | 50% |
| Days on market | 14 | 134 | 3% |
May 23, 2026
$699,000
Initial Listing
Jul 16, 2021
$584,500
Public Record
Dec 29, 2017
$403,500
Public Record
Dec 20, 2006
$170,000
Public Record