5841 Palm Avenue, Riverside, CA 92506

Description

Rare Wood Streets Investment Opportunity! Attention investors, contractors, and developers—this is the value-add project you’ve been waiting for. Situated on a flat, usable lot of nearly one-half acre, this single-story home offers approximately 1,788 square feet with 3 bedrooms, 1 bathroom, plus a spacious bonus room with closet that could serve as an office, den, or potential 4th bedroom (buyer to verify). The detached workshop is a standout feature, complete with its own HVAC system, electrical, dedicated sub-panel, and built-in air compressor lines, creating endless possibilities for a workshop, hobby space, or future ADU conversion (buyer to verify). The expansive lot offers additional potential for expansion or ADU opportunities, subject to City approval. Major components including the HVAC system, electrical panel, and water heater have already been updated, allowing investors to focus on maximizing the property’s upside. Located in Riverside’s highly desirable Wood Streets neighborhood, opportunities like this are becoming increasingly difficult to find. Property is being sold strictly AS-IS. Seller will make no repairs, provide no credits, and will not renegotiate based on inspections or property condition. Cash and hard money financing are strongly preferred. Schedule a showing before it's too late!

Listing description from the September 2026 sale, as reported to CRMLS.

Sale history

$600,000

Sold September 2026 · listed $574,900, on market July 2026, 4 days on market · MLS #IV26164438 · Source: CRMLS

Listing Agent: LAURA MCKINNEY · Listing Office: KELLER WILLIAMS RIVERSIDE CENT · Contact: 951-218-5432 · Bought with: Aracelia Flores · Century 21 Allstars

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