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220 W Big Springs Rd 5,190 SF Specialty Building Offered at $1,300,000 in Riverside, CA 92507
Investment Highlights
- City-approved plans for a 15-unit, 55-bedroom apartment complex included.
- Located steps from the University of California, Riverside campus.
- Structural and MEP engineering work already completed.
- Subterranean parking garage designed for 34 vehicles.
- Existing utility services on-site, requiring only upgrades.
- High-visibility corner lot ideal for student housing redevelopment.
Executive Summary
Opportunity to acquire a redevelopment site just steps from the University of California, Riverside campus. This property includes city-approved plans for converting the former elementary school into a three-story, 15-unit apartment complex with a total of 55 bedrooms and a subterranean parking garage offering 34 spaces. Existing utility infrastructure is in place, requiring only upgrades for the new development. Structural engineering and site survey work have been completed by Point Engineering, with MEP engineering provided by Perfect Design & Engineering. The high-visibility corner lot offers strong appeal for student housing or multifamily development in a supply-constrained market. This is a shovel-ready project with entitlements and plans included, reducing time to market and streamlining the development process.
Property Facts
| Price | $1,300,000 | Building Class | B |
| Price Per SF | $250.48 | Lot Size | 0.59 AC |
| Sale Type | Investment | Building Size | 5,190 SF |
| Sale Condition | Redevelopment Project | No. Stories | 2 |
| Property Type | Specialty | Year Built | 1977 |
| Property Subtype | School | ||
| Zoning | R3 - High Density Multi Family Residential | ||
| Price | $1,300,000 |
| Price Per SF | $250.48 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| Property Type | Specialty |
| Property Subtype | School |
| Building Class | B |
| Lot Size | 0.59 AC |
| Building Size | 5,190 SF |
| No. Stories | 2 |
| Year Built | 1977 |
| Zoning | R3 - High Density Multi Family Residential |
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 253-112-001 | Improvements Assessment | $271,747 |
| Land Assessment | $574,490 | Total Assessment | $846,237 |
Property Taxes
Parcel Number
253-112-001
Land Assessment
$574,490
Improvements Assessment
$271,747
Total Assessment
$846,237
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220 W Big Springs Rd