Real estate listing preview #1Real estate listing preview #2Real estate listing preview #3Real estate listing preview #4Real estate listing preview #5Real estate listing preview #6Real estate listing preview #7Real estate listing preview #8Real estate listing preview #9Real estate listing preview #10
listing
1 of 10
Land
$6,750,000
4779 Tequesquite Avenue
Riverside, CA 92501
Listed by Filip Niculete DRE#01905352 [email protected] Marcus & Millichap
MLS: California Regional MLS (CRMLS)
120,226Sq Ft
Est. Mortgage
$34,942/mo

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.

Get in touch
Information courtesy of Marcus & Millichap is subject to verification and is not guaranteed.
Community / School Information