3663 La Sierra Ave Riverside, CA 92505
Well-maintained 122-room property suitable for affordable housing conversion.
Property size:
37,117 SFProperty Features for 3663 La Sierra Ave
General Information
- Size
- 37,117 SF
Building Details
- Year built
- 1983
Source:
Sperrycga
Listing Agent: Luis Vazquez
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Riverside Property Conversion Opportunity
This well-maintained property, constructed in 1983, features 122 rooms within its 37,717 square feet and is situated on approximately 2.1 acres. The property includes perimeter fencing and a large parking lot with more than 1:1 parking. A central green belt offers potential for outdoor living, and there is an existing swimming pool area that could be transitioned to alternative uses. The City of Riverside has expressed preliminary approval for the property's transition to permanent affordable housing. Located approximately 0.5 miles south of Kaiser Permanente Riverside and just west of the Riverside Freeway (Highway 91) at the La Sierra Ave off-ramp, the property is in a serene location within Riverside. The area provides access to various retail options, amenities, and attractions. The property offers potential tax credits and has been under the same ownership for over 10 years. The seller has previously sold a property converted to permanent housing and is aware of the necessary process for conversion. Riverside, California is approximately one hour east of Los Angeles and is the 12th largest city in California.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Motel 6 Riverside, ...
Motel
Qualified Medcare Beneficiary
Medical Billing Service
Studio 6 Suites ...
Extended Stay Hotel
Location Insight
- Map
- Local Demand
- City
- Riverside
- County
- Riverside
- State
- California
- Longitude
- -117.4735152
- Latitude
- 33.9015759
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FAQs
What type of property is this?
Apartment building - Well-maintained 122-room property suitable for affordable housing conversion.
Where is this apartment building located?
The property is located at 3663 La Sierra Ave Riverside, CA.
What is the asking price?
The asking price for this property is $18,900,000.
What are key features of this property?
This property features: - City of Riverside enthusiastically supports conversion to permanent affordable housing.; - Potential tax credits available due to 10+ years of ownership.; - Large 2.1-acre lot with ample parking and perimeter fencing.