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Coming soon 08/06
    • Listed by: KELLER WILLIAMS RIVERSIDE CENT • LAURA MCKINNEY • Contact: 951-218-5432
    $574,900

    5841 Palm Ave, Riverside, CA 92506

    3beds
    1,788sqft
    : 
    $3,821/mo
    Get pre-qualified
    Single Family Residence
    Built in 1950
    0.43 Acres Lot
    $606,400 Zestimate®
    $322/sqft
    $-- HOA

    What's special

    Rare Wood Streets Investment Opportunity! Attention investors, contractors, and developers—this is the value-add project you’ve been waiting for. Situated on a flat, usable lot of nearly one-half acre, this single-story home offers approximately 1,788 square feet with 3 bedrooms, 1 bathroom, plus a spacious bonus room with closet that could serve as an office, den, or potential 4th bedroom (buyer to verify). The detached workshop is a standout feature, complete with its own HVAC system, electrical, dedicated sub-panel, and built-in air compressor lines, creating endless possibilities for a workshop, hobby space, or future ADU conversion (buyer to verify). The expansive lot offers additional potential for expansion or ADU opportunities, subject to City approval. Major components including the HVAC system, electrical panel, and water heater have already been updated, allowing investors to focus on maximizing the property’s upside. Located in Riverside’s highly desirable Wood Streets neighborhood, opportunities like this are becoming increasingly difficult to find. Property is being sold strictly AS-IS. Seller will make no repairs, provide no credits, and will not renegotiate based on inspections or property condition. Cash and hard money financing are strongly preferred. Schedule a showing before it's too late!
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    Zillow last checked:

    Listing updated:

    Listed by:

    LAURA MCKINNEY DRE #02046962 951-218-5432,

    KELLER WILLIAMS RIVERSIDE CENT

    Source: CRMLS,MLS#: IV26164438MLS LogoOriginating MLS: California Regional MLS

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 3
      • Bathrooms: 1
      • Full bathrooms: 1
      • Main level bathrooms: 1
      • Main level bedrooms: 3
      Rooms
      • Room types: Bonus Room, Bedroom, Family Room, Kitchen, Office, Workshop, Dining Room
      Bedroom
      • Features: All Bedrooms Down
      Bedroom
      • Features: Bedroom on Main Level
      Bathroom
      • Features: Tub Shower
      Heating
      • Central, Fireplace(s)
      Cooling
      • Central Air, Dual
      Appliances
      • Included: Barbecue, Gas Range, Microwave
      • Laundry: In Garage
      Features
      • Separate/Formal Dining Room, All Bedrooms Down, Bedroom on Main Level, Workshop
      • Flooring: Carpet
      • Windows: Wood Frames
      • Has fireplace: Yes
      • Fireplace features: Living Room
      • Common walls with other units/homes: No Common Walls
      Interior area
      • Total interior livable area: 1,788 sqft
      Video & virtual tour

      Property

      Parking
      • Total spaces: 8
      • Parking features: Circular Driveway, Driveway, Garage Faces Front, Garage, RV Potential
      • Attached garage spaces: 2
      • Uncovered spaces: 6
      Features
      • Levels: One
      • Stories: 1
      • Entry location: Front Door
      • Patio & porch: Rear Porch, None
      • Exterior features: Barbecue
      • Pool features: None
      • Spa features: None
      • Fencing: Chain Link,Wood
      • Has view: Yes
      • View description: Neighborhood
      Lot
      • Size: 0.43 Acres
      • Features: 0-1 Unit/Acre, Back Yard, Front Yard, Near Public Transit, Rectangular Lot, Value In Land, Yard
      Details
      • Additional structures: Workshop
      • Parcel number: 218142017
      • Special conditions: Probate Listing

      Construction

      Type & style
      • Home type: SingleFamily
      • Architectural style: Traditional
      • Property subtype: Single Family Residence
      Materials
      • Stucco, Wood Siding
      • Roof: Shingle,Shake,Wood
      Condition
      • Additions/Alterations,Fixer
      • New construction: No
      • Year built: 1950

      Utilities & green energy

      • Electric: Electricity - On Property, Standard
      • Sewer: Public Sewer
      • Water: Public
      • Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

      Community & HOA

      Community
      • Features: Curbs, Street Lights, Suburban, Sidewalks
      Location
      • Region: Riverside

      Financial & listing details

      • Price per square foot: $322/sqft
      • Tax assessed value: $355,744
      • Annual tax amount: $7,057
      • Date on market: 8/4/2026
      • Listing terms: Cash,Conventional,1031 Exchange,FHA 203(k),Submit
      • Exclusions: Personal belongings in Workshop and Garage
      • Road surface type: Paved

        Estimated market value

        $606,400

        $540,000 - $673,000

        $3,386/mo

        Price history

        Price history is unavailable.

        Public tax history

        YearProperty taxesTax assessment
        2025$7,057 +716.6%$355,744 +345.2%
        2024$864 +0.6%$79,902 +2%
        2023$859 +2%$78,337 +2%
        2022$843 -0.5%$76,802 +2%
        2021$847 +0.8%$75,297 +1%
        2020$840 +2%$74,526 +2%
        2019$823 +2%$73,066 +2%
        2018$807 +1.9%$71,634 +2%
        2017$792 $70,231 +2%
        2016$792 +8.2%$68,855 +1.5%
        2015$732 +1.3%$67,823 +2%
        2014$723 $66,496 +0.5%
        2013-- $66,198 +2%
        2012-- $64,901 +2%
        2011-- $63,629 +18.8%
        2010-- $53,567 -0.2%
        2009-- $53,697 +11%
        2008-- $48,390 +2%
        2007-- $47,443 +2%
        2006-- $46,513 +2%
        2005-- $45,602 +3.9%
        2003-- $43,891 +2%
        2002-- $43,031 +2%
        2001$402 +2%$42,188 +2%
        2000$394 $41,362
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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        Climate risks

        Neighborhood: Wood Streets

        Getting around

        40 / 100
        Car-Dependent
        37 / 100
        Some Transit
        60 / 100
        Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Magnolia
        • Middle: Central
        • High: Polytechnic

        Source: CRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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