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$845,998

Beds
9
Baths
7.0
sq ft
2,496

2270 Mt Vernon Ave, Riverside, CA 92507

2270 Mt Vernon Ave

Riverside, CA 92507

  • 76 days on market
    • Price drop $54,002↓
DEVELOPABLE LAND ALERT!!! Just minutes from the University of California, Riverside; this exceptional 4.34-acre property offers a unique investment opportunity. The land features seven separate units, including 9-bedrooms, 7 full-bathrooms throughout a fourplex and two story triplex. With panoramic views of the surrounding hills, valleys and beautiful view of the city, this property combines the tranquility of rural living with the convenience of being close to the city and UCR. Zoned Residential Conservation. There are also two additional parcels! One to the left (APN: 257-160-005) at 1.48 acres and one above (APN: 257-150-002) at 2.62 acres. Those of which are negotiable and could get you an additional 4.1 acres of land! Development play projected up to around 25 units/21,000 sqft of total potential with purchase of all three parcels.

Details

Property type

Single Family Residence

Lot size

4.34 acres

Price per sq ft

$339

Year built

1951

HOA

No

Price History

11/19/2024
CRMLS

CRMLS #SW24187690

Listed
$845,998
10/27/2024
CRMLS

CRMLS #SW24187690

Pending
$845,998
10/06/2024
CRMLS

CRMLS #SW24187690

Price change
$845,998
-6%

Schools & Community

Neighborhood: 

University

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

High school district: 

Riverside Unified

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Fenping Wang

Loan start date

July 2022

Original loan amount

$510,000

Est. remaining balance

Not provided

Interest rate

5.23%

Loan type

Commercial

Seller

Guojun Ichu Peng

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 11/23/2024 at 8:30 PM

Listing updated: 11/19/2024 at 5:35 AM

Listed by: Samantha Valdez, Keller Williams, The Lakes Phone #: (951) 816-6565

MLS: CRMLS #SW24187690

CRMLS logo

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