3112 1st Street, Riverside, California 92507, Riverside, - bed, bath

home-pic
PENDING$1,489,000
3112 1st Street, Riverside, California 92507
4Beds
4Baths
3,600Sqft
29,185Lot
Year Built
1950
Close
-
List price
$1.49M
Original List price
$1.49M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
CV25108199
Home ConditionGood
Features
View-

About this home

AWESOME PROPERTY! DETACHED SIDE-BY-SIDE DUPLEX WITH SEPARATE GARAGE/WORKSHOP IDEAL FOR USE TO RUN YOUR OWN INDUSTRIAL COMMERCIAL BUSINESS! located in the heart of the City near Downtown Riverside. It features 2 separate nicely updated units, their own address, with laminate floors, crown molding, appliances with upgraded kitchen cabinets. Each one has separate utility meters and their own private yards along with a well built carport, storage space, plus 1 has an additional basement, and automatic gates to each. The landscape looks very nice and manicured with various fruit trees for each. The exterior of the units show very well and you can appreciate the attention to details throughout the inside and out of the homes. $2,500 each established renters on a month to month. Approx. 3,600 square feet total living space and 29,185 square foot lot. The back of the lot is fenced off WITH NO ACCESS by the tenants. There's a very tall carport port and separate workshop/garage with automatic rollup door and a restroom on the side for visitors. It's at the corner of 1st and Commerce St. It has a very large side access on the side with ample room for large vehicle access and parking. Zoned Commercial, industrial, non-conforming/grand fathered in for rental of the 2 homes. Room for vehicles, semi trucks, trailers, large vehicles may be stored as so long as they all belong to the owner of record. It automatically loses the grandfather status if the units are vacant more than six months... Could be used as commercial offices, however it may lose it's residential status (verify) Next to the railroad tracks with convenient access to the 91/215/60 freeways. Please note: A double wide clean office modular with AC and restroom is on the lot and available for sale now for $35k Sold separately unless you want to keep as part of the sale, intended for removal. Negotiable: Very nice RV may be negotiable. Disclaimer ALL information provided it deemed reliable but not guaranteed. Interested parties must verify all information contained here-in as deemed necessary. NOTE: Cross referrence with Residential Income Listing ID #C25072410 and Commercial Listing #CV25222417 to satisfy themselves to all aspects of the property in, out and around not limited to permitted and intended use, zoning, square footage, etc. PLEASE DO NOT APPROACH THE OCCUPANTS FOR ANY REASON ***BEWARE OF LARGE GUARD DOGS AT EACH UNIT. MAY BITE!!!

Price History

Date
Event
Price
05/15/25
Listing
$1,489,000
Condition Rating
Good

Despite being built in 1950, the residential units have been nicely updated, as confirmed by the listing description and images. The kitchens feature upgraded dark wood cabinets, granite-look countertops, stainless steel appliances, and recessed lighting. Bathrooms are also updated with modern vanities, tiled showers/tubs, and contemporary light fixtures. Laminate and tile flooring are present throughout, and the exterior and landscaping are well-maintained. The AC unit appears functional and relatively modern. These updates make the property move-in ready with no immediate renovations required, aligning with the 'Good' condition criteria for a property extensively renovated within the last 5-15 years.
Pros & Cons

Pros

Versatile Zoning & Income Potential: The property boasts flexible Commercial/Industrial zoning with grandfathered residential duplex status, allowing for diverse use cases including owner-occupied business with rental income, pure commercial operations, or continued residential investment, currently generating $5,000/month from established tenants.
Extensive Auxiliary Structures & Large Lot: A substantial 29,185 sqft lot features a separate garage/workshop with a restroom and a tall carport, providing significant operational space and value for commercial/industrial activities, including ample large vehicle storage.
Prime Location & Accessibility: Strategically located in the heart of the city near Downtown Riverside, on a corner lot with excellent large vehicle access and convenient proximity to major freeways (91/215/60).
Updated Residential Units: The two detached units are nicely updated with laminate floors, crown molding, upgraded kitchen cabinets, separate utility meters, and private yards, enhancing tenant appeal and reducing immediate maintenance needs.
Ample Parking & Storage: The large side access and expansive lot offer considerable room for parking and storage of vehicles, semi-trucks, and trailers, which is a significant asset for commercial or industrial operations.

Cons

Contingent Grandfathered Status: The residential grandfathered status is conditional and will be automatically lost if the units are vacant for more than six months, posing a significant risk to the current income stream and residential use flexibility.
Proximity to Railroad Tracks: The property's location 'next to the railroad tracks' suggests potential issues with noise and vibration, which could be a deterrent for residential tenants and certain commercial uses.
Tenant Interaction & Guard Dog Issues: Explicit warnings about 'large guard dogs at each unit' and instructions not to approach occupants indicate potential difficulties for property showings, inspections, and future management, creating a barrier for potential buyers.

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