Riverside Property Conversion
For Sale
$18,900,000
3663 La Sierra Ave, Riverside, CA 92505
Well-maintained 122-room property suitable for affordable housing conversion.
Property Size37,117 SF
Price / SF$509.20
Days on Market282
Property Features for 3663 La Sierra Ave
General Information
Standard status
Active
Size
37,117 SF
Property subtype
Multifamily
Building Details
Building Size
37,117 SF
Year Built
1983
Listing Agency:
Sperry Commercial Global Affiliates Irvine
(310) 704-9109
Listed By:
Luis Vazquez · License #CalDRE #00841513
Source:
Sperrycga
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Aug 29 at 8:30AM
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 Sperry Commercial Global Affiliates Irvine
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,950
Businesses Nearby
Explore this area
Business Placement
Demographics for 92505, CA
50,919
Population
15,324
Households
3.3
Avg Household Size
34
Median Age
20%
College-Educated
79%
High-School Grad
10.2 sq mi
ZIP Area
4,992
Density / Sq Mi
$84,528
Median Household Income
$40,575
Median Earnings
$1,936
Median Rent
$520,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
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.
