5875 5875 Picker, Riverside, California 92503, Riverside, 92503 - bed, bath
ACTIVE$995,000
5875 5875 Picker, Riverside, California 92503
0Bed
0Bath
3,000Sqft
11,000Lot
Year Built
1945
Close
-
List price
$995K
Original List price
$995K
Price/Sqft
$332
HOA
-
Days on market
-
Sold On
-
MLS number
IV25234792
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $995.0K(83th), sqft - 3000(83th), beds - undefined(50th), baths - undefined(50th).
Investor Opportunity! This unique property includes two adjoining parcels totaling approximately ¼ acre, featuring four income-producing units, all currently rented. With zoning that allows for 5–10 apartment units (per Realist tax records), this property offers exceptional potential for expansion or redevelopment. Conveniently located and fully occupied, it’s a great addition to any investment portfolio. Drive by only — please do not disturb tenants. Showings by appointment only.
Price History
Date
Event
Price
10/17/25
Listing
$995,000
Condition Rating
Poor
Built in 1945, this property is nearly 80 years old with no evidence of major renovations in the past 50 years. The exterior images show a dated appearance with signs of deferred maintenance, including faded paint, weathered trim, and security bars. The listing explicitly identifies 'Property Age & Condition' as a weakness, noting that the existing structures are 'likely dated' and require 'significant capital expenditure for renovations, upgrades, or deferred maintenance.' While currently rented, implying basic functionality, the overall condition, particularly for unseen interiors like kitchens and bathrooms, is presumed to be original or very old, necessitating substantial repairs and rehabilitation to meet modern standards. The property's primary value is clearly positioned for redevelopment rather than the existing structures.
Pros & Cons
Pros
Immediate Income Generation: The property features four fully occupied, income-producing units, ensuring immediate and stable cash flow for an investor.
Significant Redevelopment Potential: Zoning allows for 5-10 apartment units on the approximately ¼ acre lot, offering substantial upside for future expansion or ground-up development.
Multiple Adjoining Parcels: Comprising two adjoining parcels, the property provides a larger land area, which is crucial for maximizing the stated redevelopment potential.
Strategic Investment Asset: Explicitly marketed as an 'Investor Opportunity' and a 'great addition to any investment portfolio,' it targets growth-oriented real estate investors.
Established Rental Demand: The property being fully occupied indicates a strong and consistent demand for rental units in the Riverside area.
Cons
Property Age & Condition: Built in 1945, the existing structures are likely dated and may require significant capital expenditure for renovations, upgrades, or deferred maintenance to maximize value.
Restricted Access for Due Diligence: The 'Drive by only — please do not disturb tenants' and 'Showings by appointment only' clauses limit immediate access, potentially complicating thorough property inspection and due diligence.
Tenant Management Complexity: While fully occupied is a strength, managing existing tenants during a potential redevelopment, significant renovation, or eventual relocation process can introduce complexities and additional costs.