See Home Value
$600,000
● House - Off Market

5841 Palm Avenue

Riverside, CA 92506
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,788 Ft²
$2,823
Est. Monthly

About This Property

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!
Unit Size
1,788 Ft²
Days on Market
50 days
Land Size
0.43 acres
Price per sqft
$322
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1950

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Last updated: 27 days ago (CRMLS #IV26164438)

Price History

Date / Event Date Event Price
Sep 25, 2026 Sold
Sold
Aug 14, 2026 In contract -
In contract
Jul 27, 2026 Listed by KELLER WILLIAMS RIVERSIDE CENT $574,900
Listed by KELLER WILLIAMS RIVERSIDE CENT

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 17
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 13
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 1
  • Garage Square Area: 420
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 18,731
  • Total Building Area: 2,746
  • Gross Building Area: 2,746
  • Building Area: 1,788
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 3
  • Heated Square Feet: 1,788
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 5
  • Water Service: 6

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: ADLER TR
  • Land Acres: 0000000430
  • Standard Land Use Code: 1001
  • County Land Use Code: 20
  • State Land Use Code: R01
  • Legal Description 1: .43 ACRES IN POR LOT 18 AND LOT 19 MB 023/033 ADLER TR

Neighborhood

  • School District Name: Riverside Unified School District
  • Census Tract: 030800

Zoning

  • Zoning: R1065

Geography

  • Parcel: 218-142-017
  • Lot: 19
  • Municipality: RIVERSIDE
  • Latitude: 33.9644
  • Longitude: -117.4

    Address

  • Full Address: 5841 Palm Ave
  • Address - House Number: 5841
  • Address - Street Name: Palm
  • Address - Suffix Type: Ave
  • State: CA
  • City Name: Riverside
  • Carrier Code: C007
  • 4-Digit Zip Code: 1060
  • Zip Code: 92506

Valuation

    Tax

  • Total Area: 1,788
  • Tax Year: 2023
  • Tax Amount: $85,928
  • Initial Tax Delinquent Year: 2017
  • Tax Rate Code Area: 009-000

    Appraisal Valuation

  • Standard Deviation: 0.2002
  • Valuation Date: Feb 14, 2024
  • Confidence Score: 73
  • Final Value: 522,437
  • High Value: 627,035
  • Low Value: 417,839

    Market Valuation

  • Market Total Value: $601,830

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $78,337
  • Assessed Land Value: $21,744
  • Assessed Improvements Value: $56,593

    Exemptions

  • Homeowner Exemption: Yes
Data used for valuation calculations is provided by RealtyHop, and other third party sources

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Wood Streets


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Frequently Asked Questions

When was property at 5841 Palm Avenue built and last sold?
The property at 5841 Palm Avenue was built in 1950 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 5841 Palm Avenue is $595,429.
What are some comparable homes to 5841 Palm Avenue?
There are currently no comparable homes to 5841 Palm Avenue.