$1,600,000

CBRE, Inc. is proud to exclusively present 4922 & 4930 Arlington Avenue. At $28/SF this versatile 1.47-acre property in the heart of Riverside, California comprises two parcels. This property currently includes two existing structures, each on its own parcel, offering a location for an owner-user or immediate income potential through leasing. One property is presently under a lease with six months remaining, providing revenue while you consider your development options. The other property is owner-occupied and will be vacated at the time of sale, allowing for flexibility and convenience for the new owner. The true gem of this offering is the expansive undeveloped land in the rear that is primed and ready for your vision. Over an acre with an R1-7000 zoning designation, this property is currently permitted for the construction of 27 dwellings across 9 parcels. Each parcel is allotted one main residence with an attached Junior ADU (max 500SF) and detached ADU (max 1200 SF), providing an extraordinary opportunity for investors looking to maximize their return. There is also potential to upzone through city proceedings. Located in the city of Riverside, this property sits in close proximity to several universities and hospitals, making it an ideal location for rental income. The property also offers access to major corridors, providing quick and easy routes to all that Southern California has to offer. Whether you're an investor looking for a lucrative development opportunity, a business owner seeking a location with potential for both use and income, or a developer aiming to create a new residential community, this property offers a unique combination of benefits that are hard to find elsewhere. Take advantage of this exceptional opportunity to cultivate and shape Riverside's residential landscape while reaping the benefits of immediate leasing revenue.