6049 Colonial, Riverside, California 92506, Riverside, 92506 - 3 bed, 1 bath
Loading property details...
6049 Colonial
Riverside, California 92506
ACTIVE UNDER CONTRACT
CONDITION: FAIR
3Beds
1Baths
1,050Sq Ft
10,019Lot Size
Property Price
LIST PRICE$499,000
EST. MARKET VALUE
$533,774
6% BelowMARKET VALUE
SUMMARY
This Strong Value Opportunity is listed at $499,000—positioned well below the $533,774 Fair Market Value by 6%. This valuation gap offers $34,774 in Instant Equity for the next owner. Featuring a Fair Condition Rating, the home provides a functional foundation for modernization. The expansive 10,018-square-foot lot offers significant ADU Potential and outdoor space, making this an ideal acquisition for Buy-and-Hold Investors or first-time buyers looking to build long-term value through strategic improvements in a prime Riverside location.
Estimated Market Value
$533,774+$34,774 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Riverside.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 6049 Colonial Subject 3 bd · 1 ba · 1,050 sqft · $508 | $499,000* List Price | 3 | 1 | 1,050 | $508 | - |
A 3595 Timothy Way Sold 3 bd · 1 ba · 1,134 sqft · $511 · 0.7 mi | $580,000 | 3 | 1 | 1,134 | $511 | 0.7 mi |
B 4685 Rosewood Sold 3 bd · 1 ba · 1,162 sqft · $499 · 1.0 mi | $580,000 | 3 | 1 | 1,162 | $499 | 1.0 mi |
C 3956 Beechwood Sold 2 bd · 1 ba · 1,110 sqft · $532 · 0.7 mi | $590,000 | 2 | 1 | 1,110 | $532 | 0.7 mi |
D 4685 Linwood Place Sold 2 bd · 1 ba · 1,049 sqft · $443 · 1.0 mi | $465,000 | 2 | 1 | 1,049 | $443 | 1.0 mi |
E 6041 Hamilton Sold 3 bd · 2 ba · 1,303 sqft · $441 · 0.1 mi | $575,000 | 3 | 2 | 1,303 | $441 | 0.1 mi |
F 3979 Bandini Sold 2 bd · 1 ba · 1,069 sqft · $442 · 0.6 mi | $472,000 | 2 | 1 | 1,069 | $442 | 0.6 mi |
G 5649 Laredo Active 3 bd · 1 ba · 1,202 sqft · $478 · 0.8 mi | $575,000 List Price | 3 | 1 | 1,202 | $478 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1951, this 70+ year old home is functional and well-maintained but dated. The bathroom shows minor past updates (vanity/toilet), but the overall property requires modernization of finishes and likely systems to meet current standards, aligning with the listing's focus on 'potential to personalize' and 'build future value'.
PROSSTRENGTHS & OPPORTUNITIES
- 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 = 10019, living area = 1050.
- Expansive Lot Size
The property features a generous 10,018-square-foot lot, providing ample space for outdoor entertaining, gardening, or significant future improvements.
- ADU Potential
The large lot size offers a prime opportunity for the construction of an Accessory Dwelling Unit (ADU), presenting excellent potential for multi-generational living or rental income.
CONSRISKS & DEFICIENCIES
- Limited Bathroom Count
With three bedrooms and only one bathroom, the home's layout may be less appealing to modern families or those seeking higher convenience.
- Compact Living Space
At approximately 1,050 square feet, the interior living area is relatively small for a three-bedroom residence, which may feel restrictive for some buyers.
About 6049 Colonial
Welcome to 6049 Colonial Drive, a charming single-story home offering three bedrooms, one bathroom, and approximately 1,050 square feet of comfortable living space. This home features a functional layout with plenty of potential for its next owner to personalize and make it their own. The standout feature is the expansive 10,018-square-foot lot, offering generous space for outdoor entertaining, gardening, future improvements, or a possible ADU, buyer to verify. Conveniently located near schools, parks, shopping, dining, Downtown Riverside, Riverside Plaza, and major commuter routes, this property combines everyday convenience with an excellent opportunity to build future value. Whether you are a first-time buyer, investor, or simply looking for a home with room to grow, this Riverside opportunity is one you won’t want to miss!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1951
- Lot Size
- 10,019 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 1.0 | 2.2 |
| Square foot | 1,050 | 1,854.896 |
| Lot Size | 10,019 | 8,680.308 |
| Price | $499.0K | $698.4K |
| Price per sq ft | $475 | $380 |
| Built year | 1951 | 1982 |
| HOA | $0 | $156 |
| Days on market | 21 | 57 |
Pricing History
Listed for Sale
Oct 4, 2026
$499,000
Initial Listing