3907 Polk St - 3907 Polk Street 2.95 Acres of Commercial Land Offered at $6,950,000 in Riverside, CA 92505

CBRE is pleased to exclusively present 3907 Polk Street, a fully entitled townhome land development opportunity with grading completed and all remaining construction permits Ready to Issue (RTI), located in the desirable La Sierra neighborhood of Riverside, CA.
The project is positioned to deliver 57 premium townhome residences across eight buildings and seven parcels totaling ±2.95 acres (±128,502 SF), offering an incoming developer a clear and immediate path to vertical construction.
Property Highlights
The approved plans yield ±69,498 net rentable square feet of residential dwelling space across a 2-bedroom/2-bathroom unit mix — 51 standard units at ±1,218 SF and six accessible units at ±1,230 SF — with a total average unit size of ±1,219 SF. Every residence includes a private covered balcony and a dedicated 2-car garage, with 57 total garages and 114 garage spaces across the site. The development is designed to deliver contemporary, high-quality townhomes with premium fixtures and fully equipped kitchens with state-of-the-art appliances.
Strategic Location & Connectivity
3907 Polk Street offers exceptional connectivity and proximity to key market drivers. Residents will benefit from walking-distance access to the Kaiser Permanente Riverside Medical Center and strong regional mobility via the 91 Freeway for direct travel to Orange County and broader Southern California, with additional access to the 15, 60, and 215 Freeways connecting to all major employment corridors. The Metrolink La Sierra Train Station is nearby, providing direct rail access to Los Angeles Union Station and the greater regional transit network.
Thriving Economy & Top Employers
The City of Riverside is a premier market defined by strong economic fundamentals and persistent housing demand, supported by an average household income of $88,575 within the trade area. The region is anchored by major employers across Healthcare, Education, and Government/Aerospace, including Kaiser Permanente, Riverside Community Hospital, UC Riverside, California Baptist University, the County of Riverside, and Collins Aerospace. Retail and lifestyle amenities are equally strong, with the Galleria at Tyler, La Sierra University, La Sierra High School, Castle Park, and Downtown Riverside all within minutes. Multifamily fundamentals across the broader Inland Empire metro continue to perform, with vacancy near its lowest point since 2022 and net absorption outpacing new supply.
Premier Development Opportunity
3907 Polk Street is a construction-ready development project in one of Riverside's most sought-after submarkets. With full entitlements secured, grading complete, and all remaining permits at RTI status, the site is primed for immediate vertical construction. The incoming developer has the option to complete a Condo Map with individually parceled APNs, unlocking maximum flexibility — whether pursuing a stabilized rental strategy, a for-sale townhome exit, or a combination of both. This is an exceptional opportunity for a residential townhome developer, seasoned investor, or private capital group to acquire a development project in a premium Inland Empire location, with sustained demand from both the traditional rental pool and the high-demand student housing market driven by the site's proximity to nearby universities.