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3561 Russell ST Riverside, CA 92501
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Key Details
Sold Price $635,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW24207635
Sold Date 12/23/24
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1949
Lot Size 10,890 Sqft
Property Description
Duplex (2 Units) Near Downtown Riverside
Unlock the potential of this duplex, ideally situated near downtown Riverside and the newly developed Exchange mixed-use area! This property offers a unique opportunity for investors, with the added possibility of constructing an Accessory Dwelling Unit (ADU).
Prime Location: Located within an Opportunity Zone (buyer to verify), this duplex is just moments from downtown Riverside's vibrant amenities, entertainment, and cultural landmarks. Enjoy being within walking distance to the Historic Mission Inn, Riverside Art Museum, and the lively Main Street. Whether it's dining at local restaurants, shopping, or experiencing the renowned Festival of Lights, this location has it all.
ADU Potential: The property features a detached garage, which can be converted into an ADU studio, offering even more flexibility for rental income or personal use. Additionally, the expansive lot provides room to explore the option of constructing one or more additional ADUs—perfect for extended family or a home office. The property also includes 2 gas meters, 1 electric meter, and 1 water meter.
Investment Opportunity: This property presents a promising opportunity for investors, located in a high-demand rental area. With over 10,000 square feet of land, there's plenty of space for further development. Pro forma rent is an estimate only (buyer to verify through their own research).
Important Buyer Information:
Zoned R1-7000 SFR, per the City of Riverside (buyer to verify)
Buyers are encouraged to conduct due diligence on all matters, including but not limited to property and lot size, permit history, zoning, school assignments, property condition, and metering.
No blind offers, please.
This is a rare opportunity to invest in a growing area with plenty of potential!
Location
State CA
County Riverside
Area 252 - Riverside
Zoning A1
Interior
Interior Features All Bedrooms Down
Heating None
Cooling None
Fireplaces Type None
Fireplace No
Laundry Washer Hookup, Gas Dryer Hookup
Exterior
Parking Features Driveway, Garage, On Street
Garage Spaces 2.0
Garage Description 2.0
Fence None
Pool None
Community Features Street Lights, Sidewalks
View Y/N No
View None
Total Parking Spaces 2
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 209080003
Acceptable Financing Conventional, Submit
Listing Terms Conventional, Submit
Financing Conventional
Special Listing Condition Standard
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Bought with Robert Esparza • Transunited Realty Group