11325 Magnolia Ave 0.94 Acres of Commercial Land Offered at $2,750,000 in Riverside, CA 92505

This offering represents a compelling opportunity to acquire a transit oriented multifamily development site with an unusually complete set of preparation work already in place. The property is currently improved with a single-family residence and detached garage that are planned for removal, clearing the way for a purpose-built apartment community tailored to today’s renter demand.
The proposed project calls for a four story, market rate building with 54 units, thoughtfully weighted toward efficient one-bedroom layouts complemented by a select number of two-bedroom homes. All 82 parking stalls are contained on the first level, creating straightforward access for residents while preserving the upper floors for high efficiency residential use. The MU U TA zoning enables a dense, urban multifamily program that directly supports transit utilization and smart growth objectives.
A key differentiator for this site is the depth of due diligence and design already completed. The seller is offering a comprehensive package that includes architectural plans, structural and civil engineering, a geotechnical report, full MEP design, and Title 24 compliance documentation. This significantly reduces lead time and soft cost exposure for a buyer, allowing an experienced developer to move more quickly from acquisition into final approvals and construction.
All units are planned as market rate, presenting an attractive canvas for either a long-term hold strategy or a merchant build and sell approach. For investors seeking a well-conceived infill project with meaningful work already completed, this site provides a ready runway to execution, subject to buyer’s confirmation of all approvals and local requirements.