6025 Florence Street, Riverside, California 92504, Riverside, 92504 - 3 bed, 3 bath
ACTIVE$585,000
6025 Florence Street, Riverside, California 92504
3Beds
3Baths
1,137Sqft
5,227Lot
Price Vs. Estimate
The estimated value ($553,762.595) is $31,237.405 (5%) lower than the list price ($585,000). This property may be overpriced.
Key pros and cons
Top Pros:
Income/Multi-Generational Potential: The property includes a main house and an Accessory Dwelling Unit (ADU) with a separate bathroom, offering significant potential for rental income or multi-generational living arrangements.
Top Cons:
Age of Property & System Concerns: Built in 1960, the property may have original or outdated major systems (e.g., HVAC, plumbing, electrical, roof) that were not specified as updated, potentially leading to future maintenance or replacement costs.
Compared to the nearby listings
Price:$585.0K vs avg $628.5K ($-43,500)30%
Size:1,137 sqft vs avg 1,586.5 sqft16%
Price/sqft:$515 vs avg $41288%
More Insights
Built in 1960 (65 years old).
Condition: Built in 1960, the property has received recent cosmetic updates including new flooring and paint throughout. However, the kitchen features very dated knotty pine cabinets and basic laminate countertops, while the bathrooms have original-style, basic fixtures. While functional and clean, these key areas are significantly outdated. Major systems (HVAC, plumbing, electrical) are likely original or very old, as no updates are mentioned. The property is aged but maintained, with functional components that show clear signs of being outdated, aligning with a 'Fair' condition.
Year Built
1960
Close
-
List price
$585K
Original List price
$640K
Price/Sqft
$515
HOA
-
Days on market
-
Sold On
-
MLS number
IG25116316
Home ConditionFair
Features
ViewNeighborhood
About this home
Huge price reduction! Main house with an ADU. Great investment property with 3 bedrooms 2 bathrooms in main house. Additional unit in rear, main room with 1 bathroom. There is a detached 2 car garage. Improvements include new flooring throughout and paint. Great location, close to shopping centers , walking distance to Martha McLean Anza Narrows Park and Santa Ana River Trail.
Condition Rating
Fair
Built in 1960, the property has received recent cosmetic updates including new flooring and paint throughout. However, the kitchen features very dated knotty pine cabinets and basic laminate countertops, while the bathrooms have original-style, basic fixtures. While functional and clean, these key areas are significantly outdated. Major systems (HVAC, plumbing, electrical) are likely original or very old, as no updates are mentioned. The property is aged but maintained, with functional components that show clear signs of being outdated, aligning with a 'Fair' condition.
Pros & Cons
Pros
Income/Multi-Generational Potential: The property includes a main house and an Accessory Dwelling Unit (ADU) with a separate bathroom, offering significant potential for rental income or multi-generational living arrangements.
Recent Cosmetic Updates: Improvements such as new flooring throughout and fresh paint provide a move-in ready condition, reducing immediate renovation costs for the buyer.
Desirable Location & Amenities: The property boasts a great location, close to shopping centers and within walking distance to Martha McLean Anza Narrows Park and the Santa Ana River Trail, enhancing lifestyle and convenience.
Significant Price Reduction: A 'huge price reduction' and multiple price drops from the original listing indicate a motivated seller and potentially a strong value proposition for prospective buyers.
Detached 2-Car Garage: The presence of a detached 2-car garage offers valuable parking, additional storage space, or potential for future conversion (subject to local regulations).
Cons
Age of Property & System Concerns: Built in 1960, the property may have original or outdated major systems (e.g., HVAC, plumbing, electrical, roof) that were not specified as updated, potentially leading to future maintenance or replacement costs.
Compact Living Space: The listed 1137 sqft for a main house (3 beds/2 baths) plus an ADU (1 bed/1 bath) suggests very compact living areas, which might not meet the space requirements or expectations of all buyers for a multi-unit property.
Extended Market Time/Price Adjustments: While beneficial for buyers, the series of price reductions and the 'huge price reduction' could indicate the property has been on the market for an extended period or was initially overpriced, potentially raising questions about its market appeal or underlying condition.