5841 Palm Avenue, Riverside, CA 92506
- $574,900
- 3
- BD
- 1
- BA
- 1,788
- SqFt
- List Price
- $574,900
- Status
- COMING SOON
- MLS#
- IV26164438
- Year Built
- 1950
- Bedrooms
- 3
- Bathrooms
- 1
- Living Sq. Ft
- 1,788
- Lot Size
- 18,731
- Acres
- 0.43
- Lot Location
- 0-1 Unit/Acre, Back Yard, Front Yard, Near Public Transit, Rectangular Lot, Value In Land, Yard
- Days on Market
- 8
- Property Type
- Single Family Residential
- Style
- Traditional
- Property Sub Type
- Single Family Residence
- Stories
- One Level
Property Description
Rare Wood Streets Investment Opportunity! Attention investors, contractors, and developers—this 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!
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Additional Information
- Other Buildings
- Workshop
- Appliances
- Barbecue, Gas Range, Microwave
- Pool Description
- None
- Fireplace Description
- Living Room
- Heat
- Central, Fireplace(s)
- Cooling
- Yes
- Cooling Description
- Central Air, Dual
- View
- Neighborhood
- Exterior Construction
- Stucco, Wood Siding
- Patio
- Rear Porch, None
- Roof
- Shingle, Shake, Wood
- Garage Spaces Total
- 2
- Sewer
- Public Sewer
- Water
- Public
- School District
- Riverside Unified
- Elementary School
- Magnolia
- Middle School
- Central
- High School
- Polytechnic
- Interior Features
- Separate/Formal Dining Room, All Bedrooms Down, Bedroom on Main Level, Workshop
- Attached Structure
- Detached
- Number Of Units Total
- 1
Listing courtesy of Listing Agent: LAURA MCKINNEY (Laura@McKinneyRealtyAssociates.com) from Listing Office: KELLER WILLIAMS RIVERSIDE CENT.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.