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

home-pic
ACTIVE$685,000
3352 Franklin Avenue, Riverside, California 92507
0Bed
0Bath
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
CV25111928
Home ConditionFair
Features
Good View: City Lights
Patio
ViewCity Lights

About this home

BACK ON THE MARKET!!! NEW AGGRESSIVE PRICING TO GET US BACK IN ESCROW. Exceptional Riverside INCOME PRODUCING, (Duel Unit/ADU) with Extensive Expansion Potential – Just 1.3 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%
08/03/25
$794,998
06/27/25
$794,999
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (5 Listings)
Beds00
Baths00
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 market132221
33%
Condition Rating
Fair

Built in 1915, this property has undergone some updates, but they are piecemeal and not extensive enough to overcome its age. While the description mentions 'modern and updated kitchens and baths,' the images reveal a mixed bag. One kitchen features newer-looking cabinets and a modern range hood, but the other (likely the main house) has dated white square tile flooring, older cabinets, and fluorescent lighting, suggesting a renovation 15-20+ years ago. Other elements like non-central HVAC units and older windows also indicate an aged property. It is maintained and livable, but many components are outdated and would require further updates to meet current standards.
Pros & Cons

Pros

High Income & Expansion Potential: The property is an income-producing duplex with fully approved plans and a poured foundation for a third unit, plus potential for a fourth unit conversion from the large 2-car garage, offering significant growth and revenue opportunities.
Strategic Location & Rental Demand: Positioned just 1.3 miles from the University of California, Riverside (UCR), ensuring strong rental demand, and conveniently located near schools, shopping, dining, and major freeways.
Versatile Use Case: Appeals to a broad market including savvy investors, first-time homebuyers, or those seeking multi-generational living solutions, with the flexibility to live in one unit and rent the other.
Updated Interiors & Features: Both units boast modern, updated kitchens and bathrooms, bright, spacious interiors, and additional amenities such as a standing space cellar and a beautiful covered porch.
Ample Outdoor Space & Parking: Features a generous 12,197 sqft lot with lush, beautifully maintained individual yards providing private outdoor oases for both units, complemented by abundant parking.

Cons

Significant Price Reductions: The property has undergone multiple, aggressive price reductions from its original list price of $794,999 down to $685,000, which may indicate initial overpricing, market resistance, or issues that have deterred previous buyers.
Repeated Market Re-entry: Explicitly stated as 'BACK ON THE MARKET,' suggesting previous escrow agreements have fallen through, which could raise concerns about undisclosed issues or complications with the property.
Age of Property: Built in 1915, despite updates, the property's age may entail ongoing maintenance challenges, potential for outdated infrastructure (e.g., plumbing, electrical not fully specified as updated), and higher insurance costs.

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