3352 Franklin Avenue, Riverside, California 92507, Riverside, - bed, bath

home-pic
ACTIVE$685,000
3352 Franklin Avenue, Riverside, California 92507
4Beds
2Baths
2,700Sqft
12,197Lot
Year Built
1915
Close
-
List price
$685K
Original List price
$795K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
CV25109261
Home ConditionGood
Features
Good View: City Lights, Hills, Neighborhood
ViewCity Lights,Hills,Neighborhood

About this home

BACK ON THE MARKET WITH NEW AGGRESSIVE PRICING TO GET US BACK IN ESCROW! Live in One, Rent the Other Exceptional Riverside Single Family Residential, (Duel Unit/ADU) with Extensive Expansion Potential – Just 3 Miles from UCR! Whether you're a savvy investor, a first-time home buyer, or someone looking for a smart multi-generational living solution, this versatile 4-bedroom, 2-bathroom(3/1 & 1/1) duel unit/multi family with TONS of parking is a rare gem in the heart of Riverside. Perfectly positioned just 3 miles from the University of California, Riverside, this property offers both convenience and long-term value. Each unit features bright, spacious interiors, modern and updated kitchens and baths, and a flexible layout ideal for families, roommates, or renters. The main house is also equipt with a standing space cellar under the home as well as a beautiful covered porch for those warm summer nights. The lush, beautifully maintained individual yards create a private outdoor oasis for both units providing ample family space for both properties, while the secure perimeter fence provides added safety and peace of mind for residents, children, and pets alike. Investors, take note: This property is fully approved for a third unit, and the foundation has already been poured—saving you time, money, and red tape. The property also has a large 2 car garage that also could potentially be converted into a 4th unit. Expand your portfolio, stack your doors or create additional living space for the In-Laws with ease. Dont miss this special opportunity Located near schools, shopping, dining, and major freeways, this is a prime Riverside location with strong rental demand and future growth potential. Live in one, rent the other, or build out your investment vision—this property is ready for your next move.

Price History

Date
Event
Price
10/10/25
Price Change
$685,000-6.2%
08/28/25
Price Change
$729,999-5.8%
08/07/25
Price Change
$774,999-2.5%
05/19/25
$795,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (5 Listings)
Beds40
17%
Baths20
0%
Square foot2,7001,744
67%
Lot Size12,1978,276
67%
Price$685K$640K
50%
Price per square foot$254$407
17%
Built year19159715972
17%
HOA
Days on market170220
33%
Condition Rating
Good

Despite being built in 1915, the property has undergone significant recent renovations, particularly in the kitchens and bathrooms, which feature updated cabinets, countertops, and modern tile flooring. The bathrooms include new vanities and tub surrounds. While some appliances are older and the heating/cooling system is a mix of older wall heaters and newer mini-split units rather than central HVAC, the overall interior is move-in ready with no immediate renovations required, aligning with the 'Good' condition criteria for extensively renovated properties.
Pros & Cons

Pros

Significant Income & Multi-Generational Potential: The property is a dual-unit/ADU setup, explicitly stating 'Live in One, Rent the Other,' and offers clear pathways for a third unit (foundation poured) and a potential fourth (garage conversion), making it highly versatile for investors or multi-generational families.
Prime Location near UCR: Situated just 3 miles from the University of California, Riverside, ensuring strong rental demand and future growth potential, along with proximity to schools, shopping, dining, and major freeways.
Extensive Expansion & Value-Add Opportunity: Beyond the existing dual units, the pre-approved foundation for a third unit and the potential for a fourth unit conversion (2-car garage) offer substantial opportunities for increasing income and property value.
Updated Interiors & Private Outdoor Spaces: Both units feature modern and updated kitchens and baths, complemented by lush, private individual yards and a secure perimeter fence, enhancing livability and appeal.
Aggressive Price Adjustment: The recent 'aggressive pricing' and multiple price reductions indicate a motivated seller and potentially a more attractive entry point for buyers, suggesting good value.

Cons

Age of Property & Potential for System Updates: Built in 1915, the property is over a century old, which may imply older infrastructure, plumbing, electrical systems, and potential for ongoing maintenance or the need for significant upgrades beyond cosmetic renovations.
Unrealized Expansion Costs & Effort: While expansion potential is a strength, the actual cost, time, and effort required to complete the third unit or convert the garage into a fourth unit could be substantial, requiring further investment from the buyer.
Market Perception from Price Reductions: Multiple price reductions, including the current 'aggressive pricing,' could suggest the property was initially overpriced or has faced challenges attracting buyers, potentially raising questions about its market value or any underlying issues.

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