1970 Patterson Ct Riverside, CA 92507

Property Details for 1970 Patterson Ct

Property type

Land

Description

This exceptional 1.62-acre development site in Riverside, CA, presents a compelling investment opportunity. Located at 1970 Patterson Ct, 92507, the property encompasses 70,567 square feet of land zoned R-3-1500, offering significant potential. The land is priced at $48.32 per square foot, totaling $3,400,000. Its strategic location between Interstates 215, 91, and 60 provides convenient access to major transportation arteries. Proximity to the University of California, Riverside (1.8 miles) enhances its appeal to both residents and investors. The site is fully entitled for the construction of 57 luxury apartment residences, capitalizing on Riverside County's business-friendly environment and its incentives for economic development. This prime location, coupled with its development potential, makes this property an attractive investment in a thriving market. APN: 211-111-037, 53, 54. This opportunity combines convenience, accessibility, and significant growth potential in a desirable location. The property's strategic placement and development entitlements make it a rare find in Riverside's competitive real estate market. The fully entitled nature of the property significantly reduces development timelines and associated risks, making it an attractive proposition for experienced developers and investors seeking a high-return opportunity.