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2586 University, Riverside, California 92507, Riverside, 92507 - 7 bed, 7 bath

2586 University, Riverside, California 92507 home-pic-0
ACTIVE$890,000
2586 University, Riverside, California 92507
7Beds
7Baths
3,570Sqft
10,019Lot
Year Built
1894
Close
-
List price
$890K
Original List price
$890K
Price/Sqft
$249
HOA
-
Days on market
-
Sold On
-
MLS number
DW25256400
Home ConditionPoor
Features
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 4% below the list price. We found 3 Cons,5 Pros. Rank: price - $890.0K(97th), sqft - 3570(99th), beds - 7(98th), baths - 7(99th).

A Single Family Home located in the city of Riverside, California. The home has 7 bedrooms and 7 baths. Buyer to verify with the city of Riverside. 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!

Price History

Date
Event
Price
11/07/25
Listing
$890,000
08/30/17
Sold
$220,000
11/21/12
Sold
$200,000
08/22/08
Sold
$185,000
Condition Rating
Poor
Built in 1894, this property is in a state of extensive demolition or unfinished renovation. The interior images reveal gutted rooms with exposed studs, torn-out walls, dirty floors, and partially installed, non-functional kitchen and bathroom components. Windows are boarded up, indicating the property is currently uninhabitable and requires substantial repairs and rehabilitation to address significant defects and bring it to a safe, livable condition. While some new tile is visible, the overall state points to a complete overhaul rather than minor updates.
Pros & Cons

Pros

Income-Generating Potential: The property features three separate buildings on one lot, offering significant potential for multiple rental units and possible ADU conversions, maximizing investment returns.
Strategic Location for Student Housing: Located within a 5-minute drive to UC Riverside, this property is ideally positioned to capitalize on the strong demand for student housing.
High Occupancy Capacity: With 7 bedrooms and 7 bathrooms, the property is well-suited for multi-tenant occupancy, student housing, or a large family, providing versatile living arrangements.
Excellent Local Amenities: Conveniently situated near a wide array of essential stores, restaurants, and schools, enhancing tenant appeal and daily convenience.
Substantial Property Size: The property boasts a generous 10,019 sqft lot and a spacious 3,570 sqft main building, offering ample space for various uses and potential expansion.

Cons

Historic Property Age: Built in 1894, the property likely requires substantial renovation, modernization, and ongoing maintenance to meet contemporary standards and address potential deferred issues.
Unverified Development Potential: The description explicitly states 'Buyer to verify with the city' regarding ADU conversion or other building potential, indicating potential regulatory hurdles, costs, and uncertainty.
Potential Overpricing: The current list price of $890,000 is approximately 4% above the estimated market value of $848,156, which may suggest it is priced aggressively compared to current market valuations.

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