5127 La Sierra,Riverside, CA 92505
Riverside, CA 92505
Description
This offering consists of two contiguous parcels (APNs 146-071-036 & 146-071-022) totaling approximately 1.5 acres, with assigned addresses of 5127 & 5131 La Sierra Avenue, Riverside, CA 92505. The property offers approximately 251 feet of frontage along La Sierra Avenue, one of West Riverside’s major thoroughfares, near the signalized intersection of Norwood Avenue. Zoned R-3 Multiple-Family Residential, the property presents an exceptional infill development opportunity with potential for 50+ residential units, subject to site planning, density calculations, development standards, entitlements, and City approval. The current sellers have begun planning for a 50+ unit senior housing apartment complex, giving a prospective buyer a valuable head start in evaluating a higher-density residential concept. R-3 zoning allows up to 29 dwelling units per acre and supports apartments, townhomes, condominiums, qualifying tiny-home communities, and certain small-lot single-family developments. Additional density may be available through a Planned Residential Development Permit and/or Density Bonus Program. The sellers will provide the buyer with preliminary development and due-diligence materials, including a Property Survey, Preliminary Grading Plans, Site Plan, and Soils Report. These materials provide a valuable starting point for further feasibility analysis, engineering, site planning, and entitlement discussions. The site is flat and undeveloped, adjacent to established residential homes, with sidewalks in place and utilities located adjacent to or near the property. Located approximately 2 miles north of the 91 Freeway and less than 4 miles east of the 15 Freeway, the property is minutes from Hidden Valley Golf Club, Kaiser Permanente Riverside Medical Center, California Baptist University, parks, schools, restaurants, shopping, entertainment, and commercial amenities. With R-3 zoning, potential 50+ unit density, a preliminary senior housing concept (the 50+ unit concept is preliminary and is not a guarantee of project approval or final unit count), substantial La Sierra Avenue frontage, and preliminary plans and reports available, this is a compelling opportunity for multifamily developers, senior housing operators, builders, and land investors.
Details
| MLS # | OC26173454 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Days On Site | 28 |
| Listing Provided By | Nexus Commercial | Scott Vu |
Features
| Zoning | R3 |
|---|---|
| Acreage | 1.50 |
| Property View | Yes |
Exterior
| Lot Features | Twenty Six To Thirty Units Acre, Lot Over40000Sqft, Level, Near Park, Near Public Transit, Rectangular Lot, Street Level |
|---|
Utilities
| Utilities | Electricity Available, Natural Gas Available, Sewer Available, See Remarks, Water Available, Overhead Utilities |
|---|---|
| Sewer | Public Sewer |
Location
| Community Features | Street Lights, Suburban, Sidewalks, Park |
|---|
Area Information
| State | CA |
|---|---|
| County | Riverside |
| City | Riverside |
| Zip Code | 92505 |
| Area | 252 Riverside |
| Listing VS Median (in 92505) | |
Price: $1,195,000 low | high Med: $575,000 On site: 28 low | high Med: 29 | |
Market Activity 92505
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Learn More About This Property
| State | CA |
|---|---|
| County | Riverside |
| City | Riverside |
| Zip Code | 92505 |
| Area | 252 Riverside |
| Listing VS Median (in 92505) | |
Price: $1,195,000 low | high Med: $575,000 On site: 28 low | high Med: 29 | |
