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3071 Market St - Residential Lot 0.14 Acres of Residential Land Offered at $957,368 CAD in Riverside, CA 92501
Investment Highlights
- Fully entitled 4-unit residential development site in Downtown Riverside.
- Zoning under C3-Downtown Specific Plan—Gateway District with approved density.
- Accelerated development timeline with reduced entitlement risk.
- Located near Mission Inn, Riverside Metrolink, retail, restaurants, and civic amenities.
- Entitlements allow for units of approximately 1,800 to 2,300 square feet each.
- Strong resale demand for new construction townhome and condo product in Riverside.
Executive Summary
This fully entitled infill development parcel is located in the heart of Downtown Riverside at the corner of Market Street and 1st Street. The site benefits from its proximity to the Mission Inn, Riverside Metrolink station, retail, dining, and civic buildings, creating a walkable and highly connected environment. The property is approved for a 4-unit residential development, with each unit ranging from approximately 1,800 to 2,300 square feet, offering a near shovel-ready opportunity for builders and investors.
The entitlement process has been completed under the C3-Downtown Specific Plan—Gateway District zoning, significantly reducing development risk and accelerating the timeline to construction. With strong demand for new townhome and condo product in Riverside, this project offers meaningful time-value advantages and a clear path to execution. Projected exit pricing of approximately $850,000 per unit underscores the potential for attractive returns in a market with sustained housing demand.
The entitlement process has been completed under the C3-Downtown Specific Plan—Gateway District zoning, significantly reducing development risk and accelerating the timeline to construction. With strong demand for new townhome and condo product in Riverside, this project offers meaningful time-value advantages and a clear path to execution. Projected exit pricing of approximately $850,000 per unit underscores the potential for attractive returns in a market with sustained housing demand.
Property Facts
| Price | $957,368 CAD | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Single Family Development |
| No. Lots | 1 | Total Lot Size | 0.14 AC |
| Property Type | Land | ||
| Zoning | DSP-MSG - Downtown Specific Plan - Market Street Gateway | ||
| Price | $957,368 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Single Family Development |
| Total Lot Size | 0.14 AC |
| Zoning | DSP-MSG - Downtown Specific Plan - Market Street Gateway |
1 Lot Available
Lot
| Price | $957,368 CAD | Lot Size | 0.14 AC |
| Price Per AC | $6,838,343.74 CAD |
| Price | $957,368 CAD |
| Price Per AC | $6,838,343.74 CAD |
| Lot Size | 0.14 AC |
+/- 0.14 AC of land for development.
Description
The property is a vacant land parcel situated at the intersection of Market Street and 1st Street in Downtown Riverside, California. It is positioned near the Mission Inn, Riverside Metrolink station, retail establishments, restaurants, and civic buildings. The site is governed by the C3-Downtown Specific Plan—Gateway District zoning and has an approved entitlement map for four residential units.
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 209-194-018 | Improvements Assessment | $0 CAD |
| Land Assessment | $104,278 CAD | Total Assessment | $104,278 CAD |
Property Taxes
Parcel Number
209-194-018
Land Assessment
$104,278 CAD
Improvements Assessment
$0 CAD
Total Assessment
$104,278 CAD
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3071 Market St - Residential Lot
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