tomo logo

$874,900

Beds
5
Baths
3.0
sq ft
2,439

6248 Riverside Ave, Riverside, CA 92506

6248 Riverside Ave

Riverside, CA 92506

  • 12 days on market
Three dwellings on a lot in the Magnolia Center neighborhood! The spacious main home has 3 bedrooms and 2 full bathrooms, and attached to the rear of the house with a private entrance is an independent 4th room that may be used as a mother-in-law suite with a kitchen and bathroom. Additionally, there is a detached permitted studio fully equipped with an individual bathroom, kitchen and living space. Upon entering the main house, you are welcomed into an updated mid-century home, a comfortable retreat flowing easily between the living area, dining room and updated kitchen illuminated by an abundance of natural light. Enjoy the ample cabinetry and quartz counters. You will appreciate the dual pane windows throughout, the wood-like tile floors, and ceiling fans in all bedrooms. Reap the benefits of a move-in ready ADU with its own address providing an excellent rental income opportunity, as well as the secondary studio attached to the house. All dwellings are single-level and include their own indoor laundry and backyard spaces. Lower taxes and no HOA! The property is well located across the street from the popular Riverside Plaza, near many amenities, schools, and the 91 freeway. This unique configuration of three residences presents an intriguing possibility for those interested in multi-unit living or investment opportunities. Don't wait! Make your appointment today!

Details

Property type

Single Family Residence

Est. home value

$692,913

Property condition

Updated/Remodeled

Lot size

9,148 sq ft

Price per sq ft

$359

Year built

1953

HOA

No

Price History

10/25/2024
CRMLS

CRMLS #IV24220915

Listed
$874,900
10/12/2024
CRMLS

CRMLS #CV24192474

Removed
$874,900
09/17/2024
CRMLS

CRMLS #CV24192474

Listed
$874,900
+44.61%

Schools & Community

Neighborhood: 

Magnolia Center

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Curbs, Park, Street Lights, Suburban

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

$279,443
Asking price
$874,900
Closing costs (~8% of asking)
-$69,992
Est. remaining loan balance
-$525,465
Cash to seller
$279,443

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

Seller’s Loan History

Lender

United Wholesale Mortgage

Loan start date

February 2022

Original loan amount

$556,700

Est. remaining balance

$525,465

Interest rate

3.11%

Loan type

New Conventional, 30 year

Seller

Vicente Ponce and Erica Ponce

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?

Similar Homes Nearby

CRMLS
$950,000
5 bd
|
4 ba
|
2,892 sq ft
|
House

2161 Stonefield Pl, Riverside, CA 92506

CRMLS
$779,999
5 bd
|
3.5 ba
|
2,500 sq ft
|
House

3191 Orange St, Riverside, CA 92501

Price drop
CRMLS
$830,000
5 bd
|
2 ba
|
1,909 sq ft
|
House

5834 Norman Way, Riverside, CA 92504

Status: Active

Tomo last checked: 11/05/2024 at 5:55 PM

Listing updated: 11/03/2024 at 3:55 PM

Listed by: MICHELLE GOULD, COLDWELL BANKER REALTY Phone #: (951) 682-1133

MLS: CRMLS #IV24220915

CRMLS logo

Recently listed in Riverside