ActiveResidential · sale

5305 Palm

Riverside, CA 92506

$609,900

  • 2 beds
  • 2 baths
  • 1,200 sq ft
  • 0.18 acres
  • Built 1941

Listed by WESTCOE REALTORS INC · MLS #IV26097421

5305 Palm, Riverside, CA 92506 — photo 1 View full photo
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A FEW THINGS TO NOTICE

What stands out.

Year built

Built in 1941.

Garage parking

2 garage spaces listed.

Property size

0.18 acres listed.

Highlights from the listing description and property details. Confirm features with the listing agent.

THE PROPERTY

Get to know the property.

Very cute 2 bedroom 2 bath home in the highly desirable Wood Streets area of Riverside on a spacious corner lot And it has an ADU perfect for just about anyone or anything The house has great curb appeal The exterior was recently painted LOADS of gated parking for your cars or RVs Walk inside and find your open concept home with a large living room oversized dining room both with laminate flooring and ceiling fans The remodeled kitchen has nice wood cabinets with tile backsplash tile flooring and upgraded stainless steel appliances including freestanding gas stove dishwasher built in microwave and sink And the refrigerator is included too Theres a convenient breakfast bar overlooking the kitchen The master suite is huge and has laminate flooring a ceiling fan and a beautiful walkin closet with builtin shelves dividers and recessed lighting Theres even a vanity area for the ladies or the men The master bath is highly upgraded with a wood cabinet with granite countertop walkin shower with lots of tile and a glass door tile flooring and a custom toilet The hall bath features a tubshower combo unit with lots of tile The nice sized 2nd bedroom has laminate flooring a ceiling fan and lots of closet space The large indoor laundry room has a folding table and plenty of room for your washer and dryer Some of the windows have been replaced with dual pane windows Off the kitchen area open your double doors to an inviting covered patio area with a wood burning fireplace A great place for relaxing Step outside to your completely fenced BIG backyard with PLENTY of gated parking your own horseshoe pits and lots of trees including fruit trees and a large shade tree The detached 2 car garage is steps away from the house There is an additional 50 amp electrical panel and a 2nd water heater in the garage Attached to the garage is a charming ADU The studio size ADU is perfect for just about anyone and is fully selfcontained It features a small kitchen with stove and refrigerator a sleeping area and a bath with a fiberglass tubshower combo unit toilet and sink Theres even a covered patio off the ADU This home is close to shopping and the freeways Please check out all the pictures then call Steve for your private showing
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THE NEIGHBORHOOD

Explore the location.

5305 Palm, Riverside, CA 92506

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THE DETAILS

The details, all in one place.

Property type
Residential
Category
Residential
Year built
1941
Full baths
2
Garage spaces
2
Cooling
WallWindowUnits
Heating
NaturalGas,WallFurnace
Appliances
Dishwasher,FreeStandingRange,GasCooktop,Disposal,GasOven,GasRange,GasWaterHeater,Microwave,Refrigerator,WaterHeater
Flooring
Laminate,Tile,Vinyl
Utilities
ElectricityConnected,NaturalGasConnected,SewerConnected,WaterConnected
Fencing
ChainLink
Pool
No
Pool features
None
Parcel
217223013
Elementary school
Magnolia
Middle school
Central
High school
Polytechnic
HOA fee
$0.00

Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.

OWNERSHIP, WITH A PLAN

Investor outlook.

Explore this property’s rental potential with an all-cash purchase. Monthly rent starts at 5% of the purchase price per year, divided by 12. Adjust it and the other assumptions to explore your scenario.

These are planning assumptions, not a rental appraisal or a loan quote. The starting rent is a price-based estimate; a local leasing professional can help confirm market rent.

Investor outlook assumes an all-cash purchase. No mortgage payment is deducted.

Estimated monthly cash flow · cash purchase—
Estimated monthly rent$2,541.25
Cap rate—

Annual operating income: —

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Your property and current assumptions will be included for our team to review.

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Purchase price
Rental income & operating costs

Purchase price × 5% ÷ 12. Updates with purchase price until you enter a custom rent.

Annual insurance starts at purchase price × 0.25%, rounded to the nearest available amount. Updates with purchase price until you choose another amount.A planning estimate, not an insurance quote. Adjust it for your property and coverage.

Percentages are editable examples, not ERA fee quotes. Management is applied to rent after vacancy; maintenance and capital reserves use scheduled rent. Add owner-paid utilities, mortgage insurance and other recurring expenses under other costs.

How this scenario is calculated

Annual operating income is rent after vacancy, management, maintenance, taxes, insurance, HOA and other operating costs, before financing and capital reserves. Cap rate divides annual operating income by purchase price. Estimated monthly cash flow assumes an all-cash purchase: rent after vacancy, management, maintenance, taxes, insurance, HOA, other operating costs and capital reserves. No mortgage payment is deducted. The mortgage calculator is separate; loan payments would reduce cash flow for a financed purchase. One-time acquisition costs, renovations, income taxes, depreciation and appreciation are excluded.

Mortgage payment calculator

Explore financing separately. These loan settings do not change the all-cash investor outlook.

Mortgage assumptions

20% down and 7% interest are illustrative starting values.

Estimated monthly principal & interest—Loan payment only. Excludes property taxes, homeowners/flood insurance, mortgage insurance and HOA dues.

About this payment estimate

Based on a fixed-rate, fully amortizing loan with monthly payments and the price, down payment, interest rate and term you select. The interest rate is an example, not a current rate offer or APR; APR includes certain loan costs. This is an illustration, not a Loan Estimate, approval, offer of credit or commitment to lend.

Your actual payment, rate and eligibility depend on your lender, credit, loan program and property. Closing costs, points, prepaid expenses and lender fees are not included. Taxes and insurance may change, and mortgage insurance may be required, particularly with a down payment below 20%. Ask your lender for a Loan Estimate and a complete monthly payment including applicable taxes, insurance and fees.

Dollar results are rounded to the nearest cent; calculations retain precision until display. A cash purchase has no loan payment but still has ownership costs. Understand your total home payment (CFPB).

ERA PROPERTY MANAGEMENT

See its potential.
Have a plan for what follows.

Considering this property as a rental? Start with the numbers, then talk through the day-to-day with a local management team.

  1. Understand the opportunity.

    Review rental pricing, property condition and your ownership goals with a local professional.

  2. Make a strong first impression.

    Bring together property preparation, professional marketing and applicant screening.

  3. Stay connected to your investment.

    Get support with rent collection, resident communication, maintenance coordination and owner reporting.

Get a local rental estimateTalk through your management needs
Stone-front home with a landscaped lawn and central entry
A more complete plan for your property

LOCAL PEOPLE. SHARED COMMITMENT.

A team behind your next step.

From your first question to the everyday work of ownership, a conversation with the right person makes a difference.

Meet ERA Property Management

Residential management in Utah, Nevada and Texas. Service availability and rental eligibility must be confirmed for each property. Commercial and association services are available through our management services page.

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5305 Palm, Riverside, CA 92506 · MLS #IV26097421

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Listing information

MLS #IV26097421 · California Regional MLS

Listing brokerage: WESTCOE REALTORS INC
Listing agent: STEVEN MAIO

Listing status: Active. Record updated . Confirm current availability and price with the listing agent.

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. "CRMLS" and is protected by all applicable Copyright © 2023 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. Information deemed reliable but not guaranteed. Copyright © 2023 California Regional Multiple Listing Service, Inc. All rights reserved.