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2857 Mulberry St, Riverside, California 92501, Riverside, 92501 - 1 bed, 1 bath

2857 Mulberry St, Riverside, California 92501 home-pic-0
ACTIVE$624,000
2857 Mulberry St, Riverside, California 92501
1Bed
1Bath
490Sqft
17,592Lot
Year Built
1951
Close
-
List price
$624K
Original List price
$669K
Price/Sqft
$1,273
HOA
-
Days on market
-
Sold On
-
MLS number
IV25221162
Home ConditionExcellent
Features
Good View: Hills, Mountain(s), Neighborhood, Trees/Woods
ViewHills, Mountain(s), Neighborhood, Trees/Woods

About this home

We found 3 Cons,6 Pros. Rank: price - $624.0K(53th), sqft - 490(1th), beds - 1(5th), baths - 1(16th).

Fully Renovated Multi-Parcel Property – Ideal for Small Business, Owner-User, or Land Development. Perfect for a small business needing space for one to two work trucks, this completely renovated property sits on four legal parcels totaling 17,592 sq ft. Each parcel can be developed individually, and the true value lies in the combined land and its strong development potential, making this a rare opportunity for investors, builders, or business owners seeking long-term upside. The home has been fully renovated with a new kitchen featuring quartz counters, new appliances and plumbing, an upgraded bathroom with tile shower and fixtures, dual-pane windows, new flooring, LED lighting, and fresh interior/exterior paint. Systems include a newer FAU/condenser, updated electrical/lighting, and fully renovated landscape/irrigation with automatic controllers. The property is fully fenced and secured with block walls and metal panel fencing, plus an electric gate with openers and keypads for controlled access. A large shade structure/carport accommodates up to three vehicles, ideal for work trucks or business equipment. This is a unique opportunity to acquire four contiguous, developable parcels that can be used individually or together—offering exceptional flexibility for business operations, storage, future construction, or investment growth. The properties next door can be bought together with the deal as they are all for sale.

Price History

Date
Event
Price
11/06/25
Price Change
$624,000-3.9%
10/25/25
Price Change
$649,000-1.5%
10/24/25
Price Change
$659,000-1.5%
10/01/25
Listing
$669,000
Condition Rating
Excellent
Despite being built in 1951, this property has undergone a complete and extensive renovation, bringing it to a virtually new condition. The description explicitly states 'fully renovated' with a 'new kitchen featuring quartz counters, new appliances and plumbing,' an 'upgraded bathroom with tile shower and fixtures,' 'new flooring,' 'LED lighting,' 'fresh interior/exterior paint,' 'newer FAU/condenser,' and 'updated electrical/lighting.' The images confirm these updates, showcasing a modern kitchen with white shaker cabinets, stainless steel appliances, and quartz countertops, and a sleek bathroom with a tiled walk-in shower and contemporary vanity. All components appear new or virtually new, meeting current quality standards with no deferred maintenance.
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 = 17592, living area = 490.
Exceptional Development Potential: Comprised of four legal, contiguous parcels totaling 17,592 sq ft, offering significant flexibility for individual development, business expansion, or future construction, making it a strong investment opportunity.
Extensive Recent Renovation: The existing 1-bed, 1-bath home has undergone a comprehensive renovation, including a new kitchen with quartz counters and new appliances, an upgraded bathroom, dual-pane windows, new flooring, LED lighting, fresh paint, and updated HVAC/electrical systems, ensuring a move-in ready condition.
Business-Friendly Infrastructure: Features like a large shade structure/carport for up to three vehicles (ideal for work trucks), full fencing with block walls and metal panels, and an electric gate with controlled access make it highly suitable for a small business or owner-user.
Enhanced Security and Privacy: The property is fully secured with robust fencing (block walls, metal panels) and an electric gate with keypads, providing a high level of security and controlled access.
Large, Versatile Lot: The substantial 17,592 sq ft lot size provides ample space for various uses, including additional construction, extensive parking, or landscaping, enhancing its utility beyond the existing structure.

Cons

Extremely Small Living Space: The existing residential unit is only 490 sq ft, which is exceptionally small and limits its appeal as a primary residence for most buyers, potentially narrowing the buyer pool.
High Price Relative to Existing Structure: The list price of $624,000 is substantial for a 490 sq ft home, indicating that the value is heavily weighted towards the land and development potential rather than the current living space, which might be a barrier for traditional residential buyers.
Significant Price Reduction History: Multiple price drops from the original $669,000 to $624,000 suggest potential overpricing or a struggle to attract buyers at previous price points, which could raise questions about market value or perceived value.

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