Consultant Report: 5520 Mission Boulevard, Riverside, CA 92509
Property Overview
- Address: 5520 Mission Boulevard, Riverside, CA 92509
- Lot Size: 24,798 sqft
- Zoning: R-1 / SB9 eligible
- Land Use: Vacant
- Estimated Land Value: $2,926,164
Strategy Landscape
The following development strategies were analyzed:
| Strategy | Cost | Revenue | Profit | ROI | Timeline | Risk | Score |
|---|---|---|---|---|---|---|---|
| Sell as-is | $194,000 | $3,072,000 | $2,878,000 | 1483.5% | 4mo | Low | 95.53 |
| Outdoor storage / RV yard | $285,000 | $1,926,000 | $1,641,000 | 575.8% | 6mo | Medium | 85.5 |
| 8-unit townhome subdivision | $3,398,000 | $6,020,000 | $2,622,000 | 83.3% | 22mo | Medium | 75.3 |
| 10.4k sqft warehouse | $1,924,000 | $3,461,000 | $1,537,000 | 79.9% | 18mo | Low | 73.49 |
| 35-unit infill apartment | $12,041,000 | $223,371,000 | $211,330,000 | 1825.3% | 32mo | Medium | 68.71 |
| Mixed-use 27-unit + retail | $12,737,000 | $155,609,000 | $142,872,000 | 1166.6% | 38mo | High | 64.17 |
| Hold / land bank (5y) | $129,000 | $4,155,000 | $4,026,000 | 3120.9% | 60mo | Medium | 63 |
Recommended Strategy
The recommended strategy is Sell as-is. This approach yields a profit of $2,878,000 with an ROI of 1483.5% over a 4-month timeline, categorized as low risk. This strategy achieves the highest score of 95.53 among all analyzed options.
The R-1 zoning, coupled with SB9 eligibility, positions this vacant lot favorably for immediate sale. The potential for small-lot subdivision and by-right multi-family development under SB9 and SB1123 ministerial paths attracts a premium from developers seeking density.
Risk Watchlist
- Market Fluctuations (Sell as-is): While low risk, unforeseen shifts in the Riverside real estate market could impact final sale price or timeline.
- Permitting Delays (Development Strategies): All development strategies (townhomes, apartments, warehouse, mixed-use) carry inherent risks of permitting delays, which can extend timelines and increase costs.
- Construction Cost Overruns (Development Strategies): Large-scale projects are susceptible to unexpected increases in material and labor costs.
- Financing Availability (Development Strategies): Securing favorable financing for larger projects can be challenging, particularly for high-cost, long-timeline strategies.
Suggested Next Steps
- Initiate Marketing: Immediately prepare the property for sale, engaging a broker specializing in development-ready land in the Riverside market.
- Due Diligence Package: Assemble a comprehensive due diligence package for prospective buyers, highlighting SB9 eligibility and potential development pathways.
- Monitor Market: Continuously monitor local market conditions to inform pricing and negotiation strategies.