MLS® ID: OC18091987
5189 La Sierra Ave
Riverside, California, 92505 $869,000
An 80,208 feet parcel (1.8 acres( zoned R-7000, suitable for 12 houses, Senior apartments, or other residential projects.Adjacent to La Sierra Park and La Sierra Senior Center. It has 2 houses, recently remodeled which generate income of $2,500 a mo. The main house is 1,567 square feet, could rent between $1,500 and $1,17,00 and the 1 bedroom house 828, renting for $1,100. the design is DT-1 Ranch Style. Assessor had them as 2 parcels, but recently made into one because there was never a lot adjustment done and it is all one parcel. The houses are on an 11, 400 feet area and the rest is level and graded.Appraisal done in just the houses came out at $408,772. Most of the value is on the land because of the excellent location next to the Senior Center.The City of Riverside favors Senior Apartments and the guidelines are easy to follow. The income from the houses is a good thing to have while you wait for permits etc.