NOT LISTED FOR SALE

Estimated Value: $1,069,000 - $1,381,197

1.1 Acres
$1,082,484 Price per Acre
47,916 Sq Ft Lot

Last Sold February 20, 2024

Last sale price $1,100,000

Est. 8% increase in value since last sale

Current estimated payment $6,399/month

106 Days on Market

Highlights

  • 1.1 Acre Lot
  • No HOA
  • Level Lot
  • Private Yard

About This Lot

As of February 2024

PRIME COMMERCIAL OPPORTUNITY - 1.1 ACRES w/ EXISTING BLDG. This is a RARE opportunity for you to own and operate a Business on a main thoroughfare in the vastly growing Highgrove neighborhood of Riverside, CA. The front portion of the property is zoned C-P-S: Scenic Highway Commercial. With 2 driveway entrances, and an expansive STORAGE YARD that is FULLY PRIVATE, this property is ideal for a myriad of businesses such as: Contractor Businesses, Auto Repair, Autobody Shop, Trailer/Boat Storage, Equipment Rentals, Truck/Trailer Sales, Recycling Facilities, Tow-Yard, Vehicle Storage, etc etc! (Must verify with county Riverside on all permitted uses). This property is a staple of Riverside's History as the building was originally constructed in 1918 as a 1,704 SF residence with 4 bedrooms and 2 bathrooms, and is still in good condition, and has been a multigenerational property for the last 60 years. The house can be a Grandfathered residential use, making it ideal for a Live-in/Work Home Business with enough space for storage, and a back yard for the family to enjoy including a Pool that remains in good condition. The parcel is technically "split-zoned" with CPS zoning in the front, with R1 residential zoning in the rear. The residential zoned portion is wedged between commercially zoned properties on two sides, hence a permitted Zone-Change with the county of Riverside is considerable, if you wish to do so. This property is also ideally located just seconds from the 215 FWY Offramp, and has approximately 17,000+ Cars Per Day along Center St, making for great visibility for potential customers. Whether you aspire to create a bustling retail center, establish offices, or craft a mixed-use development, the possibilities are endless here! Local New Developments Include: Pulte Homes is poised to build a proposed 846 NEW HOMES (Summit Canyon), and a brand new Shopping Center called the HIGHGROVE TOWN CENTER just up on Center St. In addition, KB HOMES HAS ALREADY BEGUN their ambitious 785-acre master-planned community to construct approximately 1,400+ Upscale Homes, all of which are residents whom must drive by this subject property to get to Mt Vernon. Now is your time to Invest into the Path of Progress, and get in one one special property that can only go up from here. Buyer must verify any and all marketing information to satisfy themselves.

Last Agent to Sell the Property

Bobby Mendez

Re/Max Time Realty License #01971883 Listed on: 09/26/2023

Re/Max Time Realty

Last Buyer's Agent

Thomas Gibson

THE WRIGHT ASSOCIATED COMPANIES License #01319085

Property Details

Property Type

  • Land

Lot Details

  • 1.1 Acre Lot
  • Level Lot
  • Irregular Lot
  • Private Yard
  • Property is zoned C-P-S / R1

Location

  • Suburban Location

Listing and Financial Details

  • Legal Lot and Block 45 / 45
  • Assessor Parcel Number 247042009
  • $144 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association

Recreation

  • Rain Gutters

Property Details

Property Type

Land

Lot Details

1.1 Acres

Listing Details

  • View: No
  • Zoning: C-P-S / R1
  • Property Type: Land
  • Parcel Number: 247042009
  • Special Features: None
  • Property Sub Type: LotsLands

Interior Features

  • Price Per Square Foot: 22.96

Utilities

  • Utilities: Water Connected
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Irregular Lot, Level, Yard
  • Lot Size Sq Ft: 47916.00
  • Lot Size Acres: 1.1000

Multi Family

  • Lot Size Area: 47916.0000 Square Feet

Tax Info

  • Tax Block: 45
  • Tax Census Tract: 423.00
  • Tax Lot: 45
  • TaxOtherAnnualAssessmentAmount: 144.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 26, 2023
Closed on
Feb 14, 2024
Sold by
Dan Foster Family Trust
Bought by
Laing International Llc
Seller's Agent
Bobby Mendez
Re/Max Time Realty
Buyer's Agent
Thomas Gibson
THE WRIGHT ASSOCIATED COMPANIES
List Price
$1,350,000
Sold Price
$1,100,000
Premium/Discount to List
-$250,000
-18.52%
Views
71
Current Estimated Value
$1,190,732

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$90,732
Avg. Annual Appreciation
3.92%
Original Mortgage
$600,000
Outstanding Balance
$589,416
Interest Rate
6.62%
Mortgage Type
New Conventional
Estimated Equity
$601,316

Purchase Details

Listed on
Sep 26, 2023
Closed on
Jan 18, 2024
Sold by
Bagwell Jimmy Dean
Bought by
Bagwell Lorraine G
Seller's Agent
Bobby Mendez
Re/Max Time Realty
Buyer's Agent
Thomas Gibson
THE WRIGHT ASSOCIATED COMPANIES
List Price
$1,350,000
Sold Price
$1,100,000
Premium/Discount to List
-$250,000
-18.52%
Views
71

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Outstanding Balance
$589,416
Interest Rate
6.62%
Mortgage Type
New Conventional
Estimated Equity
$601,316

Purchase Details

Closed on
Mar 27, 2019
Sold by
Foster Dan E
Bought by
Foster Dan E

Purchase Details

Closed on
Feb 21, 1994
Sold by
Foster Barbara J
Bought by
Foster Barbara J

Purchase Details

Closed on
May 28, 1993
Sold by
Foster Barbara J
Bought by
Foster Barbara J
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Laing International Llc $550,000 Chicago Title
Bagwell Lorraine G -- Chicago Title
Foster Dan E -- None Available
Foster Dan E -- None Available
Foster Barbara J -- --
Foster Barbara J -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Laing International Llc $600,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/20/2024 02/20/24 Sold $1,100,000 -18.5% --
01/10/2024 01/10/24 Pending -- -- --
09/26/2023 09/26/23 For Sale $1,350,000 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,437 $1,122,000 $1,081,200 $40,800
2023 $2,437 $205,413 $109,151 $96,262
2022 $2,375 $55,980 $25,326 $30,654
2021 $751 $54,883 $24,830 $30,053
2020 $747 $54,321 $24,576 $29,745
2019 $735 $53,253 $24,093 $29,160
2018 $645 $52,210 $23,621 $28,589
2017 $635 $51,187 $23,158 $28,029
2016 $601 $50,184 $22,704 $27,480
2015 $593 $49,432 $22,364 $27,068
2014 $588 $48,466 $21,927 $26,539
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: IG23175944

California Regional Multiple Listing Service (CRMLS)

APN: 247-042-009

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