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$ 6,950,000
Est. payment | /mo
2.95 Acres Lot
$ 6,950,000
Est. payment | /mo
2.95 Acres Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV26177716
HOA Y/N No
Lot Size 2.950 Acres
Property Description
Rare construction-ready townhome development opportunity in one of Riverside's most sought-after submarkets. 3907 Polk Street is a fully entitled, shovel-ready project offering 57 premium townhome residences across eight buildings on ±2.95 acres (±128,502 SF), with grading complete and all remaining permits at RTI status — delivering an incoming developer a clear and immediate path to vertical construction. The approved plans yield ±69,498 net rentable square feet across an all 2-bedroom/2-bathroom unit mix, comprising 51 standard units at ±1,218 SF and six accessible units at ±1,230 SF, with an average unit size of ±1,219 SF. Every residence features a private covered balcony and a dedicated 2-car garage, with 57 total garages and 114 garage spaces across the site. Units are designed to deliver contemporary, high-quality living with premium fixtures and fully equipped kitchens with state-of-the-art appliances. The site offers exceptional connectivity to key market drivers. Residents will enjoy walking-distance access to Kaiser Permanente Riverside Medical Center and strong regional mobility via the 91, 15, 60, and 215 Freeways. The nearby Metrolink La Sierra Station provides direct rail service to Los Angeles Union Station and the broader Southern California transit network. The City of Riverside is a premier Inland Empire market 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 — supported by a strong household income within the trade area. Retail and lifestyle amenities including the Galleria at Tyler, Castle Park, and Downtown Riverside are all within minutes. Inland Empire multifamily fundamentals remain strong, with vacancy near its lowest point since 2022 and net absorption continuing to outpace new supply. The incoming developer has the option to complete a Condo Map with individually parceled APNs, unlocking maximum exit 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 premier development project 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.
Location
State CA
County Riverside
Area 252 - Riverside
Zoning HDR-45
Interior
Fireplace No
Exterior
Community Features Curbs, Sidewalks
View Y/N No
View None
Building
Lot Description Lot Over 40000 Sqft
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 143270009
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Eric Chen CB RICHARD ELLIS 626-757-5717
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