2586 University Avenue, Riverside, California 92507, Riverside, - bed, bath
ACTIVE$890,000
2586 University Avenue, Riverside, California 92507
7Beds
7Baths
3,660Sqft
10,019Lot
Year Built
1894
Close
-
List price
$890K
Original List price
$890K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
DW25149061
Home ConditionPoor
Features
Good View: Hills
ViewHills
About this home
The seller is motivated to sell this Single Family Home located in the city of Riverside, California. According to the public records, the home has 7 bedrooms and 7 baths. The building square feet is approx. 3,570. There are three seperate buildings on one lot. There may be a possibility that the two back units can be convereted into adu's. Buyers to verify with the city to see what can be built on the property. This property can be used for student housing since its within a 5 min drive to UC Riverside. In addition the property is conveniently located near stores and schools such as Stater Bros. Markets, Denny's, Waba Grill, El Pollo Loco, Ralphs, Marshalls, Vons, Nordstrom Rack, UC RIverside, and many more! Seller may carry with a large downpayment.
Price History
Date
Event
Price
07/02/25
Listing
$890,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (125 Listings) | |
|---|---|---|---|
| Beds | 7 | 4 | 98% |
| Baths | 7 | 2 | 98% |
| Square foot | 3,660 | 1,741 | 99% |
| Lot Size | 10,019 | 7,989 | 73% |
| Price | $890K | $650K | 97% |
| Price per square foot | $243 | $365 | 3% |
| Built year | 1894 | 9905992 | 1% |
| HOA | |||
| Days on market | 126 | 173 | 24% |
Condition Rating
Poor
This property, built in 1894, is in a state of extensive demolition and disrepair. The interior is largely gutted, with exposed studs, damaged flooring, and graffiti, rendering it completely unlivable. All windows and doors are boarded up. While the exterior structures appear to have newer roofs and some fresh paint, indicating some recent attention, the lack of functional kitchens, bathrooms, or any complete interior systems means it requires substantial rehabilitation and reconstruction. It is not a tear-down as the main structures appear salvageable for a full renovation, but it is far from habitable.
Pros & Cons
Pros
Income-Generating Potential: The property features three separate buildings on one lot, with the strong possibility of converting two back units into ADUs, offering significant rental income potential and increased property value.
Strategic Location: Its prime location within a 5-minute drive to UC Riverside makes it highly attractive for student housing, complemented by convenient access to numerous stores and schools.
Flexible Financing Options: The seller's motivation and willingness to carry financing with a large down payment provide a flexible and potentially advantageous purchasing option for interested buyers.
High Capacity & Versatility: With 7 bedrooms and 7 baths across approximately 3,660 sqft, the property offers substantial living space and versatility, suitable for multi-family occupancy, group living, or investment purposes.
Large Lot Size: A generous 10,019 sqft lot provides ample space for the existing structures and supports the potential for further development or expansion, subject to city verification.
Cons
Age of Property: Built in 1894, the property is very old, suggesting a high likelihood of deferred maintenance, outdated systems, and the need for substantial renovation or upgrades to meet modern standards and codes.
Required Buyer Due Diligence: The listing explicitly states that 'Buyers to verify with the city to see what can be built on the property' regarding ADU conversions, indicating potential complexities and uncertainties that necessitate extensive buyer investigation and approval processes.
Potential for Extensive Renovation: Given its age and the implied nature of a motivated seller, the property likely requires considerable investment for repairs, modernization, and bringing it up to current safety and aesthetic standards, which could be a significant cost for the buyer.