Active

3561 Russell St

Riverside CA, 92501

$575,000


$522.25 per sqft

Active

1,101 sqft

Multi-family

Built in 1949

Listed by VINCE DEL NEGRO with RE/MAX CHAMPIONS 909-949-0605

Opportunity Zone! Fixer-Upper Duplex (2 Units) Near Downtown Riverside.

Embrace the potential of this fixer-upper duplex, strategically located near downtown Riverside and near the new The Exchange mixed use development! This property presents a unique opportunity for renovation enthusiasts and investors to create a personalized space while also exploring the possibility of building an Accessory Dwelling Unit (ADU). Excellent opportunity for cash investors!

Prime Location: Located in an OPPORUNITY ZONE! (buyer to verify) Conveniently situated near downtown Riverside, enjoy proximity to local amenities, entertainment, and cultural attractions. Short distance of Historic Mission Inn and The Riverside Art Museum. Stroll down Main Street, eat at one of many restaurants, visit the shops and vendors and enjoy the Festival of Lights attraction.

Buyer is to do all due diligence on all matters including, but not limited to, property size, lot size, permit history, zoning, permitted and non-permitted use, school assignments, property condition, metering information and anything effecting the desirability of the property to the Buyer.

Fixer-Upper: Unleash your creativity and vision with this duplex that is ready for a makeover. Customize the space to your liking and add significant value.

ADU Potential: Take advantage of the expansive lot and explore the option of constructing possibly more than one ADU. Perfect for extra rental income, extended family, or a home office.

Property has: 2 gas meters; 1 electric meter; 1 water meter.

Investment Opportunity: Ideal for those looking to invest in a property with substantial potential. Unlock value through renovations and additional 2+ ADU dwelling possibilities! Good rental area demand. Large, 10,000+ square foot lot leaving plenty of room to build. Pro Forma rent is an estimate only (buyer to perform their own research). Buyer to to perform their own research and investigation regarding the subject property and the area. Per city of Riverside, property is zone R1-7000 SFR - Buyer to verify. Please NO BLIND OFFERS.

CV24008044

MLS ID

January 15, 2024

Listed

April 19, 2024

Updated

Map

3561 Russell St
Riverside CA, 92501

Interior Features

Total Stories

1


Interior Features

All Bedrooms Down


Laundry Description

None


Fireplace

Yes


Fireplace Description

None


Cooling

No


Cooling Description

None


Heating

No


Heating Description

None

Exterior/Building Features

Lot Size

0.25 Acres


Sewer

Public Sewer

Other Property Details

Area Name

252 - Riverside


Days on Market

32


Garage

Yes


Garage Spaces

2


Parking

Garage


Parking Total

2


View

No


View Description

None


County

Riverside


Water Source

Public


Pool

No


Pool Features

None


Zoning

R1-7000 (SFR)


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

4/19/2024

Active

4/5/2024

Pending

Listing Contact: 909-949-0605 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 4/19/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 4/19/2024 at 2:09 AM UTC

 

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