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$876,450Estimated home value

Beds
5
Baths
2.5
sq ft
3,000

5121 Magnolia Ave, Riverside, CA 92506

5121 Magnolia Ave

Riverside, CA 92506

  • Off market
Step into a piece of history with this exquisite 1923 Colonial home, designed by the renowned architect Henry Jekel, nestled in the prestigious Wood Streets Historic District. This distinguished residence combines original character with modern upgrades, ensuring a living experience that is both luxurious and authentically preserved. Experience the allure of the past with the home's charming brick entry and mature landscaping, setting a tone of grandeur and elegance. Inside, the home boasts large living spaces, including a formal dining room and a spacious kitchen outfitted with stainless steel appliances. Tasteful updates and refurbishments are evident throughout, marrying the original charm with contemporary comfort. This two-story home features five generously sized bedrooms and 2.5 bathrooms, with the upper floor housing four bedrooms and two remodeled bathrooms, providing ample space for family and guests alike. The master suite is a true retreat, offering tranquility and privacy. Entertain in style in the expansive backyard, where a charming deck and a shimmering pool await to make your summers unforgettable. Additional features include a carport, a two-car garage, and a convenient laundry room, all enhancing the functionality of this historic gem. Living in this home also means the opportunity of significant tax benefits, thanks to its Mills Act Tax Relief approval. This is not just a home; it's a savvy investment and a chance to own a significant part of Riverside's architectural heritage. Make this captivating home yours and live the legacy of luxury and history.

Details

Property type

Single Family Residence

Est. home value

$876,450

Lot size

9,148 sq ft

Price per sq ft

$445

Year built

1923

Price History

08/01/2024
CRMLS

CRMLS #IV24075836

Removed
$1,333,000
04/16/2024
CRMLS

CRMLS #IV24075836

Listed
$1,333,000
+26.95%
01/16/2024
CRMLS

CRMLS #IV23222500

Sold
$1,050,000
+45.83%

Schools & Community

Neighborhood: 

Wood Streets

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Street Lights, Suburban, Sidewalks

High school district: 

Riverside Unified

Negotiation Insights

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

Seller could get up to

$856,283
Asking price
$1,333,000
Closing costs (~8% of asking)
-$106,640
Est. remaining loan balance
-$370,077
Cash to seller
$856,283

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Ocmbc Inc

Loan start date

December 2023

Original loan amount

$372,500

Est. remaining balance

$370,077

Interest rate

7.76%

Loan type

New Conventional, 30 year

Seller

Fermin Lupian Gonzalez

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?

Status: Off Market

Tomo last checked: 09/28/2024 at 5:30 PM

Listing updated: 07/12/2024 at 6:34 AM

Listed by: ROBERT ADAMS, First Team Real Estate Phone #: (909) 480-3030

MLS: CRMLS #IV24075836

CRMLS logo

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