2493 Northbend Street, Riverside, California 92501, Riverside, 92501 - 4 bed, 2 bath

2493 Northbend Street, Riverside, California 92501 home-pic-0
ACTIVE$630,000
2493 Northbend Street, Riverside, California 92501
4Beds
2Baths
932Sqft
11,761Lot
Year Built
1914
Close
-
List price
$630K
Original List price
$500K
Price/Sqft
$676
HOA
-
Days on market
-
Sold On
-
MLS number
TR25065347
Home ConditionExcellent
Features
Excellent View: City Lights, Canyon, Park/Greenbelt, Lake
ViewCity Lights,Canyon,Park/Greenbelt,Lake

About this home

Possibly Over-Priced:The estimated price is 51% below the list price. We found 3 Cons,6 Pros. Rank: price - $630.0K(55th), sqft - 932(11th), beds - 4(65th), baths - 2(50th).

A rare large and beautiful single house on a lakefront lot in the historic downtown of Riverside. The backyard is spacious and flat, and there is a dedicated driveway, which is highly efficient and can be divided to build at least two houses, or design a beautiful backyard with a swimming pool. Beautifully renovated 4 bedroom 2 bathroom home with an area of ??approximately 1,152 square feet (the title shows 2 bedrooms, 1 bathroom, and an area of ??932 square feet. The title deed shows 0.27 acres, but the land is actually larger than the title deed). New paint and new vinyl flooring, the open design provides a bright and airy living space, perfect for relaxing and entertaining. Conveniently located near the famous Fairmount Lakeview Park, golf courses, UC Riverside and shopping centers, with easy access to the 60 and 91 freeways. The spacious front yard driveway can accommodate at least 4 cars, RVs, yachts and other toys. There is also a dedicated driveway in the backyard. The seller has a fully paid addition plan available to build a two story single family home (3,489 sq. ft.), a JADU (495 sq. ft.) and an ADU (1,195 sq. ft.). This home has excellent long term investment potential if you are looking for a large property to add on or keep a variety of farm animals and some plants. No HOA and low taxes.

Condition Rating
Excellent

Despite being built in 1914, the property has undergone a beautiful and extensive renovation. The kitchen features modern white shaker cabinets, stainless steel appliances, and a farmhouse sink. Bathrooms are updated with contemporary tiling and fixtures. New vinyl plank flooring and fresh paint are visible throughout. The presence of mini-split AC units indicates a modern and efficient cooling/heating system. All visible components appear new or virtually new, aligning with current quality standards and suggesting a recent, comprehensive renovation.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11761, living area = 932.
Approved Development Plans: Seller provides fully paid plans for a new 3,489 sq. ft. single-family home, 495 sq. ft. JADU, and 1,195 sq. ft. ADU, offering immense value-add and income potential.
Exceptional Location & Views: Rare lakefront lot in historic downtown Riverside, offering city lights, canyon, park/greenbelt, and lake views, with convenient access to amenities and freeways.
Extensive Lot Potential: Large, flat, and potentially subdividable backyard (larger than public records indicate) with dedicated driveways, ideal for expansion, a pool, or versatile land use.
Recent Interior Renovations: The home features recent renovations including new paint, vinyl flooring, and an open design, providing a modern and inviting living space.
Low Ownership Costs: Benefits from no HOA fees and low property taxes, enhancing affordability and long-term investment appeal.

Cons

Public Record Discrepancies: Significant differences exist between the advertised property details (4 beds/2 baths, 1,152 sqft, larger lot) and public records (2 beds/1 bath, 932 sqft, 0.27 acres), which could impact appraisal and financing.
Substantial Overpricing: The current list price of $630,000 is considerably higher than the estimated property value of $305,437.485, indicating a potential overvaluation in the market.
Historic Property Age: Built in 1914, the property's age, despite renovations, may lead to potential maintenance issues related to older infrastructure or require specialized upkeep.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state