5841 Palm Avenue,Riverside, CA 92506
Riverside, CA 92506
Description
Rare Wood Streets Investment Opportunity! Attention investors, contractors, and developersthis is the value-add project you’ve been waiting for. Situated on a flat, usable lot of nearly one-half acre, this single-story home offers approximately 1,788 square feet with 3 bedrooms, 1 bathroom, plus a spacious bonus room with closet that could serve as an office, den, or potential 4th bedroom (buyer to verify). The detached workshop is a standout feature, complete with its own HVAC system, electrical, dedicated sub-panel, and built-in air compressor lines, creating endless possibilities for a workshop, hobby space, or future ADU conversion (buyer to verify). The expansive lot offers additional potential for expansion or ADU opportunities, subject to City approval. Major components including the HVAC system, electrical panel, and water heater have already been updated, allowing investors to focus on maximizing the property’s upside. Located in Riverside’s highly desirable Wood Streets neighborhood, opportunities like this are becoming increasingly difficult to find. Property is being sold strictly AS-IS. Seller will make no repairs, provide no credits, and will not renegotiate based on inspections or property condition. Cash and hard money financing are strongly preferred. Schedule a showing before it's too late!
Details
| MLS # | IV26164438 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1950 |
| Days On Site | 37 |
| Listing Provided By | KELLER WILLIAMS RIVERSIDE CENT | LAURA MCKINNEY |
Features
| Bed(s) | 3 |
|---|---|
| Bath(s) | 1 Total |
| SQ Feet | 1,788 |
| Garage | 2 |
| Story(s) | 1 |
| Units | 1 |
| Acreage | 0.43 |
| Property View | Yes |
Interior
| Cooling | Central Air, Dual |
|---|---|
| Heating | Central, Fireplaces |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | Separate Formal Dining Room, All Bedrooms Down, Bedroom On Main Level, Workshop |
| Window Features | Wood Frames |
| Appliances | Barbecue, Gas Range, Microwave |
| Fireplace Yes / No | Yes |
Exterior
| Exterior Features | Barbecue |
|---|---|
| Roof | Shingle, Shake, Wood |
| Construction Materials | Stucco, Wood Siding |
| Lot Features | Zero To One Unit Acre, Back Yard, Front Yard, Near Public Transit, Rectangular Lot, Value In Land, Yard |
| Fencing | Chain Link, Wood |
Parking
| Attached Garage Yes / No | Yes |
|---|---|
| Parking Features | Circular Driveway, Driveway, Garage Faces Front, Garage, Rv Potential |
| Garage Yes / No | Yes |
Utilities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Electric | Electricity On Property, Standard |
| Sewer | Public Sewer |
Location
| Community Features | Curbs, Street Lights, Suburban, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Riverside |
| City | Riverside |
| Zip Code | 92506 |
| Area | 252 Riverside |
| Listing VS Median (in 92506) | |
Price: $574,900 low | high Med: $750,000 sqft: 1,788 low | high Med: 1,830 $ / sqft: $322 low | high Med: $410 On site: 37 low | high Med: 6 | |
Market Activity 92506
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Learn More About This Property
| State | CA |
|---|---|
| County | Riverside |
| City | Riverside |
| Zip Code | 92506 |
| Area | 252 Riverside |
| Listing VS Median (in 92506) | |
Price: $574,900 low | high Med: $750,000 sqft: 1,788 low | high Med: 1,830 $ / sqft: $322 low | high Med: $410 On site: 37 low | high Med: 6 | |
