Historic Three-Story Mixed-Use
For Sale
$500,000
3466 University Ave, Riverside, CA 92501
Downtown property combines street-level retail, upper-floor offices, basement space, and architectural character in a flexible existing configuration.
Property Size16,600 SF
Lot Size0.27 Acres
Price / SF$37.62
Days on Market59
Property Features for 3466 University Ave
General Information
Standard status
Active
Size
16,600 SF
Lot size
0.27 Acres
Property subtype
Mixed-Use
Zoning
C3
Additional Details
Highway Access
Yes
Amenities
Auction - Aug 3-5, 2026 | Starting Bid: $500,000
Iconic Historic Property – Rare Generational Investment Opportunity in Downtown Riverside.
Adaptive Re-Use Potential – Ideal For Mixed-Use Redevelopment, Boutique Hotel, or Creative Office. | Flexible Tenancy – All Tenants on Month-to-Month Leases, Enabling Immediate Repositioning.
Advanced Planning Progress – Preliminary Redevelopment Plans Have Been Prepared and Advanced Through the City Planning Process, Positioning the Project For an Efficient and Predictable Path Forward.
Advanced Building & Safety Progress – First Building Department Submittal Approximately 50 Percent Complete, With Remaining Items Clearly Defined.
Clear Path to Final Approval – Remaining Work Limited to Mortar Testing and Final Structural Seismic Reinforcement Engineering; City Submittal Anticipated Within ~1.5 Months, With Final Project Approval Estimated Within 4–6 Months Thereafter, Inclusive of Standard Corrections and Resubmittals.
Defined Cost to Completion – Approximately $115,000 Remaining Budget, Inclusive of Remaining Consultant Contract Balance and Required Mortar Testing, With a Prudent 10–15 Percent Contingency Already Factored in.
Prime Mission District Location – Steps From Mission Inn, Convention Center, Museums, and Nightlife. | Excellent Accessibility – Near 91 Freeway and Metrolink Station; 23 Minutes to Ontario International Airport.
Building Details
Building Size
16,600 SF
Year Built
1910
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Los Angeles
(213) 943-1822
Listed By:
Orbell Ovaness · License #License(s): CA: 01402142
(213) 943-1822
Source:
Marcusmillichap
Added: Jul 3
Changed: Aug 30
Last Checked: Aug 30 at 6:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Los Angeles
Investment Insights
Based on property information with market context.
The Crescent Building is a historic three-story mixed-use property constructed in 1910 on an 11,761-square-foot lot zoned C3. Its configuration includes ground-floor retail, upper-level office space, and a basement, with ceiling heights ranging from 15 to 30 feet and notable architectural character. Existing occupants are on month-to-month leases, allowing flexibility for repositioning or owner-user occupancy.
Preliminary redevelopment plans have advanced through the City Planning process and are approximately 50% complete through Building & Safety. Remaining technical work includes mortar testing and final structural seismic reinforcement engineering. The plans address retail storefront, office, and basement retail or storage components, with additional concepts identified for mixed-use residential, boutique hotel, creative office, restaurant, or storage uses.
The property is located at 3466 University Avenue in Downtown Riverside, one block from the Mission Inn Hotel & Spa and near Riverside City Hall, the Convention Center, and the 91 Freeway.
Preliminary redevelopment plans have advanced through the City Planning process and are approximately 50% complete through Building & Safety. Remaining technical work includes mortar testing and final structural seismic reinforcement engineering. The plans address retail storefront, office, and basement retail or storage components, with additional concepts identified for mixed-use residential, boutique hotel, creative office, restaurant, or storage uses.
The property is located at 3466 University Avenue in Downtown Riverside, one block from the Mission Inn Hotel & Spa and near Riverside City Hall, the Convention Center, and the 91 Freeway.
Key Highlights
- 1910 construction on an 11,761‑square‑foot C3‑zoned lot
- Three‑story layout with ground‑floor retail, upper‑floor offices, and a basement
- Ceiling heights range from 15 to 30 feet
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,149
Businesses Nearby
Explore this area
Business Placement
Demographics for 92501, CA
22,017
Population
7,488
Households
2.9
Avg Household Size
35
Median Age
18%
College-Educated
81%
High-School Grad
5.6 sq mi
ZIP Area
3,932
Density / Sq Mi
$83,027
Median Household Income
$41,780
Median Earnings
$1,615
Median Rent
$466,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown property combines street-level retail, upper-floor offices, basement space, and architectural character in a flexible existing configuration.
Where is this mixed-use property located?
The property is located at 3466 University Ave Riverside, CA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1910 construction on an 11,761‑square‑foot C3‑zoned lot; Three‑story layout with ground‑floor retail, upper‑floor offices, and a basement; Ceiling heights range from 15 to 30 feet
