Property Detail

Description

This offering consists of two contiguous parcels (APNs 146-071-036 & 146-071-022) totaling approximately 1.5 acres, with assigned addresses of 5127 & 5131 La Sierra Avenue, Riverside, CA 92505. The property offers approximately 251 feet of frontage along La Sierra Avenue, one of West Riversides major thoroughfares, near the signalized intersection of Norwood Avenue. Zoned R-3 Multiple-Family Residential, the property presents an exceptional infill development opportunity with potential for 50+ residential units, subject to site planning, density calculations, development standards, entitlements, and City approval. The current sellers have begun planning for a 50+ unit senior housing apartment complex, giving a prospective buyer a valuable head start in evaluating a higher-density residential concept. R-3 zoning allows up to 29 dwelling units per acre and supports apartments, townhomes, condominiums, qualifying tiny-home communities, and certain small-lot single-family developments. Additional density may be available through a Planned Residential Development Permit and/or Density Bonus Program. The sellers will provide the buyer with preliminary development and due-diligence materials, including a Property Survey, Preliminary Grading Plans, Site Plan, and Soils Report. These materials provide a valuable starting point for further feasibility analysis, engineering, site planning, and entitlement discussions. The site is flat and undeveloped, adjacent to established residential homes, with sidewalks in place and utilities located adjacent to or near the property. Located appr