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3907 Polk Street

Riverside, CA 92505
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SqFt128,502

Sqft(Lot)

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 d eliver 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.

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Detail Ic Property Details

Property Type : Land

Price : $6,950,000

AD Id : 89520171

MLS Id : CV26177716

Lot Size : 128,502 Sqft(Lot)

County : Riverside

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  • Lot Information

    Main Square Feet: 128502 Lot Size Acres: 2.95 Lot Size Source: Assessor Lot Size Square Feet: 128,502 Lot Description: LotOver40000Sqft

  • Listing Price Information

    Listing Price: $6950000
    Cash, CashToNewLoan

  • Tax Information

    Parcel Number: 143270009 Tax Lot: 12 Tax Block: 35

  • Location Information

    Direction: Merge onto I-10 E, take exit 58B to merge onto I-15 S toward San Diego, take exit 96B to merge onto CA-91 E toward Riverside, take exit 55A to merge onto Magnolia Ave, keep right to stay on Magnolia Ave, turn left onto Polk St. WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
Polk St, Riverside, CA, 92505 $6,100,000 -- -- -- 4.84 Acres(Lot)
4998 Bushnell Avenue, Riverside, CA, 92505 $849,000 -- -- -- 99,317 Sqft(Lot)
Norwood Ave, Riverside .., Riverside, CA, 92505 $300,000 -- -- -- 147,668 Sqft(Lot)
Bushnell Avenue, Riverside, CA, 92505 $165,000 -- -- -- 7,405 Sqft(Lot)
5127 La Sierra, Riverside, CA, 92505 $1,195,000 -- -- -- 65,340 Sqft(Lot)
5608 La Sierra, Riverside, CA, 92505 $1,950,000 -- -- -- 92,783 Sqft(Lot)

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ByOwner last updated this listing 08/17/2026 @ 15:20

MLS: CV26177716 LISTED BY: Eric Chen, CB RICHARD ELLIS 909-418-2000 SOURCE: CRMLS

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