Listed by Cynthia Moreno with REALTY MASTERS & ASSOCIATES 909-303-4500

Introducing your historic Craftsman investment home near downtown Riverside. This home offers over 1600 sq ft with 4 great size bedroom's and 3 full bathroom's currently being leased out for $2800 but can be leased for more! This area is experiencing significant growth with a city approved investment of over $23 million for Fairmount Park which is only a couple minutes away from the growing Downtown Riverside. This development makes it a desirable hotspot and an excellent area to park your money.
The home itself comes with approved permits to convert the garage into a 1 or 2 bed bedroom accessory dwelling unit (ADU) with its own entrance and backyard. This ADU has the potential to be leased for $2000+, providing additional income opportunities.
The location of the home is ideal, offering easy access to multiple freeways. Additionally, the property has been upgraded while still retaining its original character, providing a unique blend of modern amenities and traditional charm.
It's important to mention that while the ADU has been approved, the conversion process has not yet been completed and we will only provide the approved permit/ architect rending's with the purchase of the home. The home has already been split to have two separate parking lots, two seperate yards for each unit, and 2 mailboxes. While the ADU will be a great investment opportunity since you are nearby to 2 local colleges nearby, you also have the option of making the 4th bedroom in the front house it's own private studio to rent since you can access the 4th bedroom through the back of the home, and it has it's own entrance from the outside. The 4th bedroom has it's own bathroom, and a small room inbetween that currently serves as a cofee bar with its own sink and area for a small fridge and induction stove. This is truly a GOLDMINE property waiting for the right investor to buy and HOLD and rent out for years to come to multiple families, student's, etc.
Overall, this Craftsman home near downtown Riverside offers a promising investment opportunity in a rapidly developing area.