$1,100,000 Price Analysis    ♡   Riverside, CA 92503 Unknown bed 0 bath unknown SqFt ($0/SqFt) 0.91 acre lot. Listed 2024-07-19, Taxes $1,947 | Ⓧ USDA Ineligible due to property near Riverside |
The subject property is a 0.90 acre infill development site located at 3732-3736 Van Buren Blvd.
In Riverside, California. Located less than mile to the north of the 91 Riverside Freeway, this site is composed of three individual parcels of land with tremendous visibility along Van Buren Blvd. including 221 of street frontage. Zoning on the property along with the General Plan Land Use designation for this site is Mixed-Use Village (MU-V). MU-V allows for densities of up to 30 dwelling units/acre providing for medium to high density residential development. Retail, office and service uses at the street level can be included to facilitate a vibrant pedestrian environment. Additionally, higher residential densities are permissible for projects in this zone as the site has the potential to serve as a transit-oriented development project. Under the MU-V zoning code, proposed projects within one-half of a mile of a transit stop along Magnolia Ave.
may have their residential density increased to 40 dwelling units per acre. California Assembly Bill 803 (AB 803), also known as the Starter Home Revitalization Act of 2021 was signed into law to encourage the construction of modestly sized single-family homes that may be affordable to first-time homebuyers. The subject property would qulify under this legislation and due to the fact that the property is composed of three individual parcels, each parcel could be developed individually which would be beneficial for a smaller developer who may not have the capital to und ertake a project covering the entire property all at one time. The site is generally flat and rectangular in shape with all utilities available in the street. Sidewalks, curbs, gutters, street lights and fire hydrants are already in place along Van Buren Blvd. although the site currently does not have any existing curb cuts. Riverside is a restricted market when it comes to well-located residential development sites such as the subject property, especially in the 1 acre range. Not does this site benefit from advantageous MU-V zoning but it also benefits from a highly desirable location north of the 91 freeway with great frontage and visibility along a major city arterial.
Presented by Matthew Wenzel at
Marcus & Millichap.
Property MLS #PW24148518 from CRMLS
Lot Description: Rectangular Lot, Level
Lot Size Acres: 0.9077
Lot Size Dimensions: 221' x 176'
Lot Size Source: Assessor
Lot Size Square Feet: 39540
County: Riverside
Directions: Just South of Magnolia Avenue
Source Property Type: Land
Area: 252 - Riverside
Source Neighborhood: 252 - Riverside
Parcel Number: 234112041
Postal Code Plus 4: 4250
Zoning: MU-V
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2023 | $unknown + $168,079 $168,079 | $1,947 |
| 2022 | $unknown + $164,784 $164,784 | $1,912 |
| 2021 | $unknown + $161,553 $161,553 | $1,899 |
| 2020 | $unknown + $159,897 $159,897 | $1,886 |
| 2019 | $unknown + $156,762 $156,762 | $1,851 |
| 2018 | $unknown + $153,689 $153,689 | $1,817 |
| 2017 | $unknown + $150,676 $150,676 | $1,786 |
| 2016 | $unknown + $147,722 $147,722 | $1,675 |
| 2015 | $unknown + $145,504 $145,504 | $1,653 |
| 2014 | $unknown + $142,654 $142,654 | $1,639 |
| 2013 | $unknown + $142,010 $142,010 | $1,632 |
| 2012 | $unknown + $139,226 $139,226 | $1,597 |
| 2010 | $unknown + $136,497 $136,497 | $1,559 |
| 2009 | $unknown + $135,800 $135,800 | $1,556 |
| 2009 | $unknown + $135,478 $135,478 | $1,556 |
| 2008 | $unknown + $133,138 $133,138 | $1,513 |
| 2007 | $unknown + $130,528 $130,528 | $1,476 |
$1,100,000
CRMLS
Sold 1998-10-28
$225,000
Public Record
Sold 1998-06-02
$40,000
Public Record
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.