4779 TEQUESQUITE Avenue, Riverside CA, 92501

Active

4779 TEQUESQUITE Avenue

Riverside CA, 92501

$6,750,000

$56.14 per sqft

Active

2.76 Acres

Land

Listed by Filip Niculete with Marcus & Millichap 818-212-2700

We are pleased to present 4779 Tequesquite Avenue located at the edge of Downtown Riverside, California. This large 2.76 acre lot is being offered for sale for the first time in 18 years, and it is one of the last remaining vacant lots in Riverside zoned for multi-residential development.According to our research, this R-3 zoned lot will allow a developer to build 80 market-rate apartment units (or 80 for-sale condos) using the "by-right" zoning, or a developer can take advantage of the state's density bonus and build a maximum of 122 units. If you utilize this density bonus, at least 15% of the units will need to be restricted to affordable housing, which means you can build 103 market-rate units with 19 affordable units.The lot is in a very desirable part of Riverside, nestled next to a beautiful mountain range, and within walking distance of hiking trails that lead up to the famous Mount Rubidoux Park. The lot is only 1 mile away from the center of downtown Riverside and less than 4 miles from the UC Riverside campus.

22143609

MLSⓇ ID

April 5, 2022

Listed

March 28, 2024

Updated

Map

4779 TEQUESQUITE Avenue
Riverside CA, 92501

Exterior/Building Features

Lot Size: 2.76 Acres

Other Property Details

Area Name: 252 - Riverside
Days on Market: 469
Garage: No
Parking Total: 0
View: No
View Description: None
County: Riverside
Pool: No
Buyer Agency Compensation: 2%

Listing Contact: 818-212-2700

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/28/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 3/28/2024 at 1:44 PM UTC