3071 Market, Riverside, CA 92501

Property Description

Infill development parcel located in Downtown Riverside, positioned on the corner of Market Street and 1st Street. Close to Mission Inn, Riverside Metrolink, retail, restaurants, and civic buildings. The site is currently vacant land with an entitlement map approved for 4 condo units, offering a ready-to-develop opportunity in a growing urban core. Zoning: C3-Downtown specific plan- Gateway District. . Fully entitled 4-unit residential development with ~1,800 - 2,300 SF per unit . Strong resale demand for new construction townhome/condo product . Projected exit pricing of approximately $850,000 per unit . Meaningful time-value premium due to reduced entitlement risk . Approved density . Small project = faster execution . Strong Riverside housing demand This is a near shovel-ready, entitled residential development site offering: . Accelerated timeline to construction . Embedded execution and time value