3868 Dawes St, Riverside, CA 92503

The subject property is in an exceptional location minutes away from the Tyler Mall Galleria and other shopping and transit facilities. The subject property is minutes from the 91FWY. (Location Location Location) The subject property is a parcel of land suitable for development of multiple family residential use. County records indicate APNs 145-271-011 & 022 are in conjunction with APN 145-271-014 having a combined total land area of 43995 square feet (1.01 acre). The subject property is zoned R4, high-density, which allows up to 40 dwelling units per acre. The Seller has obtained Site Plan approval for 36 unit Condos project with 36 parking stalls and 7 guest parking stalls. The Site Plan can be modified & redesigned for your own individual architecture configuration. The subject property was recently appraised by one of the top Commercial Real Estate appraisers in Riverside, Curtis Rosenthal Inc & Associates an accredited MAI/FRICS appraiser with an valuation of $2,420,000.00. This appraisal is land value as the small dwelling would be a tear down. The subject property is listed $220,000.00 below appraised value. Both the Site Plan and appraisal will be available upon request.