2481 Prospect Avenue, Riverside, California 92507, Riverside, - bed, bath
ACTIVE$500,000
2481 Prospect Avenue, Riverside, California 92507
2Beds
1Bath
882Sqft
6,970Lot
Year Built
1950
Close
-
List price
$500K
Original List price
$540K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
IV25161663
Home ConditionPoor
Features
Patio
View-
About this home
Welcome to the area of Riverside As you enter you are greeted by a formal living room the home features two bedrooms and one bathroom and kitchen, with a large backyard and Patio for those hot days. The Roof has been replaced two years ago. The garage is converted into a bedroom and can be used as extra room NO permit. Home ideally located near freeway and shopping center. Property Sold As Is .
Price History
Date
Event
Price
10/24/25
Price Change
$500,000-7.4%
07/21/25
Listing
$540,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (125 Listings) | |
|---|---|---|---|
| Beds | 2 | 4 | 4% |
| Baths | 1 | 2 | 6% |
| Square foot | 882 | 1,732 | 2% |
| Lot Size | 6,970 | 7,880 | 37% |
| Price | $500K | $650K | 10% |
| Price per square foot | $567 | $366.5 | 98% |
| Built year | 1950 | 9905992 | 16% |
| HOA | |||
| Days on market | 107 | 173 | 17% |
Condition Rating
Poor
The property was built in 1950, making it over 70 years old. While the roof was recently replaced (2 years ago), there are no interior images provided, especially for the kitchen and bathrooms. Given the age and the 'Sold As Is' status, it's highly probable that these key areas are original or significantly outdated, requiring substantial renovation. The unpermitted garage conversion is a major red flag, indicating potential code violations and future expenses for remediation or proper permitting. The overall condition suggests significant repairs and rehabilitation are needed to meet modern living standards and address deferred maintenance.
Pros & Cons
Pros
Recent Roof Replacement: The roof was replaced two years ago, significantly reducing immediate maintenance concerns for a new owner.
Prime Location: Ideally located near freeways and shopping centers, offering convenient access to amenities and transportation.
Generous Outdoor Space: Features a large backyard and patio, providing ample space for outdoor living and entertaining.
Price Adjustment: A recent $40,000 price reduction from the original list price indicates potential for a more competitive offer.
Established Riverside Area: Situated in a well-known area of Riverside, suggesting community stability and access to local services.
Cons
Unpermitted Garage Conversion: The garage has been converted into an extra room without a permit, posing potential legal and financial risks for the buyer.
Significant Overpricing: The current listing price is approximately 14% higher than the estimated property value, suggesting it may be overvalued.
Sold 'As-Is' Condition: The property is being sold 'as-is,' meaning the seller will not make repairs and the buyer assumes all responsibility for any necessary upgrades or issues.