* * Investment Opportunity in the Heart of Downtown Riverside * * This Multi Family Dwelling offers a great opportunity for an owner living in the main house and renting out the two additional studio units in detached rear yard structure. The 1,419 sq. ft. main house is a charming Craftsman style Bungalow, featuring 3 bedrooms and 1.5 bathrooms, cozy living room, separate dining room with original built-ins, and indoor laundry area. The secondary units include two studios, approximately 400 sq. ft, featuring a kitchen and bathroom. There is ample parking with each unit having their own attached 1-car garage for storage, with alley access, and up to 4 cars in driveway. Located minutes away from the historic Downtown Riverside's Mission Inn, easy freeway access, local shopping, entertainment and restaurants.
Single-familyProperty Type
1923Year Built
9,583 sq ftLot Size
$337Est. Price/Sq.Ft.
2 garage spacesParking
Listed by Nelson Rodriguez•DRE #01280315• Re/Max Top Producers
Bought with Jennifer Larson•DRE #01472586• Re/Max Top Producers
Great opportunity for investors or owner living in main house and renting studio. Main house features 3 bedrooms and 1.5 bathrooms, living room, separate dining room and indoor laundry area. The main house is approximately 1700 square feet while the studio is approximately 400 sqft. Property may have up to 3 units. There is ample parking with each unit having a 1-car detached garage and up to 4 cars in driveway for parking. Located in the heart of downtown Riverside, minutes away from freeway, local shopping, entertainment and eateries.
CRMLS #I11121294
Sep 14, 2011
Listed
$150,000
$68/sq ft
CRMLS #I528610
Feb 3, 2006
Sold
$364,000
$164/sq ft
Oct 1, 2005
Listed
$369,950
$167/sq ft
Public Records
Apr 7, 2004
Sold
$250,000
$113/sq ft
Public Records
Mar 26, 1999
Sold
$100,000
$45/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$7,978 (+3.4%)
$199,601 + $513,487
$713,088
2024
$7,715 (+24.7%)
$199,601 + $513,487
$713,088
2023
$6,186 (+1.9%)
$195,688 + $503,419
$699,107
2022
$6,072 (+106.7%)
$137,700 + $413,100
$550,800
2021
$2,938 (+0.8%)
$135,000 + $405,000
$540,000
2020
$2,916 (+1.9%)
$62,566 + $193,395
$255,961
2019
$2,862 (+2.0%)
$61,925 + $191,412
$253,337
2018
$2,807 (+1.8%)
$60,711 + $187,659
$248,370
2017
$2,757 (+6.8%)
$58,354 + $180,373
$238,727
2016
$2,582 (+1.5%)
$58,354 + $180,373
$238,727
2015
$2,545 (+1.0%)
$57,210 + $176,837
$234,047
2014
$2,521 (+0.5%)
$55,249 + $170,771
$226,020
2013
$2,509 (+18.4%)
$55,249 + $170,771
$226,020
2012
$2,119 (−0.3%)
$55,000 + $170,000
$225,000
2011
$2,125 (+22.0%)
$50,000 + $140,000
$190,000
2010
$1,742 (−31.4%)
$50,000 + $140,000
$190,000
2009
$2,541 (−38.0%)
$45,000 + $110,000
$155,000
2008
$4,101
$106,120 + $280,158
$386,278
Tax history for 3940 5th St
Year
Property tax
Land + Additions
Assessment*
2025
$7,978 (+3.4%)
$199,601 + $513,487
$713,088
2024
$7,715 (+24.7%)
$199,601 + $513,487
$713,088
2023
$6,186 (+1.9%)
$195,688 + $503,419
$699,107
2022
$6,072 (+106.7%)
$137,700 + $413,100
$550,800
2021
$2,938 (+0.8%)
$135,000 + $405,000
$540,000
2020
$2,916 (+1.9%)
$62,566 + $193,395
$255,961
2019
$2,862 (+2.0%)
$61,925 + $191,412
$253,337
2018
$2,807 (+1.8%)
$60,711 + $187,659
$248,370
2017
$2,757 (+6.8%)
$58,354 + $180,373
$238,727
2016
$2,582 (+1.5%)
$58,354 + $180,373
$238,727
2015
$2,545 (+1.0%)
$57,210 + $176,837
$234,047
2014
$2,521 (+0.5%)
$55,249 + $170,771
$226,020
2013
$2,509 (+18.4%)
$55,249 + $170,771
$226,020
2012
$2,119 (−0.3%)
$55,000 + $170,000
$225,000
2011
$2,125 (+22.0%)
$50,000 + $140,000
$190,000
2010
$1,742 (−31.4%)
$50,000 + $140,000
$190,000
2009
$2,541 (−38.0%)
$45,000 + $110,000
$155,000
2008
$4,101
$106,120 + $280,158
$386,278
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Beds
3
Baths
1
Stories
1
Lot width
—
Lot depth
—
Lot size
9,583 Sq. Ft.
Year renovated
1980
Sq. Ft.
1,419
Year built
1923
Style
Other
County
Riverside County
APN
214202004
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Nov 15, 2025.
DSP-RES
DOWNTOWN SPECIFIC PLAN
Downtown Specific Plan-Raincross District
The Raincross District is the cultural, historic, and social center of both Riverside and the region beyond. The quality of Downtown Riverside’s historic buildings and the relationship between these buildings creates an historic urban fabric unparalleled in the region. The positive image and economic health of Riverside is strongly influenced by this historic character and the protection of that is an essential part of assuring Riverside’s economic health and growth into the future. The intent of this specific plan is to create and
encourage opportunitiesfor a variety of commercial, residential and entertainment uses, including retail,office, cultural,residential, and visitorserving uses. The Raincross District encourages a concentration of uses that generate activity during both daytime and evening hours. The permitted retail uses in this District are intended to serve the specialty shopping needs of Downtown residents and employees, as well as city wide residents,regional shoppers, and tourists. The Rain cross District encourages these uses to occur as both single use buildings and as mixed-use buildings. The Raincross District is divided into two sub-areas. The center of the District is occupied by the Mission Inn Historic District, which contains Riverside’s most important historic buildings. In this sub-area the development standards have been carefully crafted to maintain a scale of development that is compatible with the well-established historic fabric ofthe district. Outside of the Mission Inn Historic
District,the development standards of the District allow greater intensity,while still assuring compatibility of the adjacent historic district and historic residential areas beyond. The development standards for the Raincross District are designed to create a place of daytime, evening and weekend activity by providing a high activity pedestrian environment with a storefront emphasis at the street level. Within the Raincross District, there are numerous local and national historic landmarks that define the district’s character, including the Mission Inn, Fox Theater, Stalder Building, Municipal Museum, Unitarian Church, Congregational Church, Municipal Auditorium, Post Office, Loring Building, and Art Museum. Preservation ofsuch structures, alongwith careful and compatible design of new development is important in maintaining the District’s character and unique sense of identity.
Zone overlays
Residential Mile Square Neighborhood
Permitted uses
Include but are not limited to:
Housing-Single unit
Housing-Multiple units
Park & open space
Property details
Parking
Parking / Garage Information
Uncovered Spaces: 4
# of Garage Spaces: 2
Direct Garage Access, Garage - Rear Entry, Garage - Single Door, Oversized
Has Parking
# of Parking Spaces: 6
Interior
Laundry Information
Has Laundry
Electric Dryer Hookup, Individual Room, Inside, Washer Included
Kitchen Information
Appliances: Electric Oven, Gas & Electric Range, Water Heater Unit
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Water Source: District/Public
Location
Neighborhood Information
Community Features: Curbs, Sidewalks
School Information
High School District: Riverside Unified
Location Information
Latitude: 33.98599600
Longitude: -117.37562500
Directions: Market Street and 5th Street
Zoning: R3
Public facts
Beds: 3
Baths: 1.0
Sq. Ft.: 1,419
Stories: 1.0
Lot Size: 9,583 square feet
Style: Other
Year Built: 1923
Year Renovated: 1980
County: Riverside County
APN: 214202004
Home facts updated by county records on Nov 15, 2025
Other
Listing Information
Days Active in MLS: 3
Continuous Days Active in MLS: 3
Team Information
Listing Team: The Top Results Group
Buyer Team: The Top Results Group
Listing Agent Information
List Agent First Name: Nelson
List Agent Last Name: Rodriguez
Listing Office Information
List Office Name: Re/Max Top Producers
Selling Agent Information
Buyer Agent First Name: Jennifer
Buyer Agent Last Name: Larson
Selling Office Information
Buyer Office Name: Re/Max Top Producers
Around this home
Schools
Bryant Elementary School
Public K-6 • Assigned • 0.3mi
8/10
Central Middle School
Public 7-8 • Assigned • 1.1mi
4/10
Polytechnic High School
Public 9-12 • Assigned • 2.4mi
6/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Local insights from Redfin agents
Riverside offers a great variety of areas to explore, from the historic charm of Downtown and the Wood Streets to the University area and newer neighborhoods like OrangeCrest. Buyers will also find local favorites such as Mount Rubidoux, Victoria...
Avenue, parks, restaurants, and plenty of outdoor spa