CA > Riverside
Riverside, CA 92501,3573 Columbia Avenue
Riverside, CA 92501,3573 Columbia Avenue
Riverside, CA 92501,3573 Columbia Avenue
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Danielle Broad

Danielle Broad

+1(925) 383-9200
$5,798,000
Est. payment /mo
15,510 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Comm Ind For Sale

Listing Status Active

Purchase Type For Sale

Square Footage 15,510 sqft

Price per Sqft $373

MLS Listing ID CROC24239190

HOA Y/N No

Year Built 1988

Lot Size 49299.441 Acres

Acres 53579.0

Property Sub-Type Comm Ind For Sale

Property Description

***SELLER FINANCING AVAILABLE with below market Competitive Interest Rate.*** The Villas at Columbia is an 18-unit apartment community located just 1.5 miles from the heart of downtown Riverside. Built in 1988, the property sits on a 1.23-acre parcel and features gated access, covered parking, and ample space for potential ADU additions. Per CA State Law, 4-6 ADUs are allowed to be converted or built based on existing number of units. The allowable floor area for each ADU ranges from 150 sf to 800 sf. ADUs add considerable NOI and value-added. (Buyers shall complete their independent due diligence on ADUs.) In the past six months, 11 of the units have undergone comprehensive renovations, including updated flooring, fresh paint, modernized kitchens with new appliances and cabinetry, and fully remodeled bathrooms. Each unit is equipped with air conditioning, fireplaces, ceiling fans, and other appealing design features. The property includes a tentative map and fully processed DRE/HOA documents, enabling a seamless conversion to for-sale condominiums at the owner's discretion. This presents a unique opportunity to unlock significant additional value through a condo conversion strategy. Each unit is individually metered for electricity and gas, with tenants covering these costs. The

Location

State CA

County Riverside

Interior

Heating Other

Cooling Central Air

Fireplace No

Exterior

Utilities Available Other

Building

New Construction No

Others

Tax ID 206080019

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Bridge MLS
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Cindy Chin • Cindy Chin Realty
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+1(925) 383-9200

smiles4dee@gmail.com

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