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4779 Tequesquite Ave

Riverside, CA 92501
  • $6,750,000
  • STATUS: Active
  • ON SITE: 129 Days
  • MLS #: 22-143609
UPDATED: 54 min ago
$6,750,000
  • 0
    BEDS
  • 2.76
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:
Area:

School Ratings & Info

Description

We are pleased to present 4779 Tequesquite Avenue located at the edge of Downtown Riverside, California. This large 2.76 acre lot is being offered for sale for the first time in 18 years, and it is one of the last remaining vacant lots in Riverside zoned for multi-residential development.According to our research, this R-3 zoned lot will allow a developer to build 80 market-rate apartment units (or 80 for-sale condos) using the "by-right" zoning, or a developer can take advantage of the state's density bonus and build a maximum of 122 units. If you utilize this density bonus, at least 15% of the units will need to be restricted to affordable housing, which means you can build 103 market-rate units with 19 affordable units.The lot is in a very desirable part of Riverside, nestled next to a beautiful mountain range, and within walking distance of hiking trails that lead up to the famous Mount Rubidoux Park. The lot is only 1 mile away from the center of downtown Riverside and less than 4 miles from the UC Riverside campus.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-08-13T20:43:10.167. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.haciendagroupinc.com/homes/127407688
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4779 Tequesquite Ave Riverside, CA 92501

  • Price: $6,750,000
  • Status: Active
  • On Site: 129 Days
  • Updated: 54 min ago
  • MLS #: 22-143609
0
Beds
0
Baths
0
½ Baths
2.76
Acres
Neighborhood:
Riverside
County:
Riverside
Area:
Riverside
Property Description
We are pleased to present 4779 Tequesquite Avenue located at the edge of Downtown Riverside, California. This large 2.76 acre lot is being offered for sale for the first time in 18 years, and it is one of the last remaining vacant lots in Riverside zoned for multi-residential development.According to our research, this R-3 zoned lot will allow a developer to build 80 market-rate apartment units (or 80 for-sale condos) using the "by-right" zoning, or a developer can take advantage of the state's density bonus and build a maximum of 122 units. If you utilize this density bonus, at least 15% of the units will need to be restricted to affordable housing, which means you can build 103 market-rate units with 19 affordable units.The lot is in a very desirable part of Riverside, nestled next to a beautiful mountain range, and within walking distance of hiking trails that lead up to the famous Mount Rubidoux Park. The lot is only 1 mile away from the center of downtown Riverside and less than 4 miles from the UC Riverside campus.
Exterior Features

Lot Size Area 120226 View Description None View YN No

Property Features

Cable YN No Sale Type Standard Source Lot Size Area Vendor Enhanced

Listing provided courtesy of Filip Niculete DRE#01905352 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-08-13T20:43:10.167. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Hacienda Agency Inc
77935 Calle Tampico # 201
La Quinta CA, 92253