3907 Polk Street
Riverside, CA 92505
For Sale
2.95 ac
Sale Price
$6,950,000
Brochure
Property Website
Map
Land For Sale - Available November 2025
57 Townhome Land Development in Prime Riverside
Construction-Ready Opportunity: Fully entitled with grading complete and all remaining construction permits Ready to Issue (RTI) — allowing a developer to proceed directly to vertical construction.
Strategic Location in a High-Demand Market: Located in the desirable La Sierra neighborhood of Riverside, CA, within the Inland Empire — a region experiencing significant population growth and persistent demand for housing.
Robust Multifamily Market Fundamentals: The multifamily vacancy rate in the Riverside and broader Inland Empire market sits between 4.2% and 5.6% in 2026, its lowest range since 2022, with net absorption continuing to outpace new supply.
Comprehensive Site Design and Amenities: All 57 residences are 2-bedroom/2-bathroom townhomes featuring premium fixtures, fully equipped kitchens, a private covered balcony, and a dedicated 2-car garage per unit.
Strong Financial Upside: 57 Units across ±69,498 NRSF with an average unit size of ±1,219 SF — purpose-built for strong rental income and long-term appreciation in a supply-constrained submarket.
Flexible Exit Strategy: The new developer has the option to complete a Condo Map, with individually parceled APNs unlocking flexible exit strategies — whether a stabilized rental strategy, a for-sale townhome exit, or a combination of both.
Surrounded by Amenities: Walking-distance access to the Kaiser Permanente Riverside Medical Center, with world-class dining, shopping, and entertainment nearby — including the Galleria at Tyler, Castle Park, Cal Baptist University, La Sierra University, and the Metrolink La Sierra Train Station all within minutes.
Get in touch
Eric Chen
Lic: 01489184
Blake Torgerson
Lic: 01919955
CBRE is pleased to exclusively present 3907 Polk Street, a fully entitled townhome land development opportunity with grading completed and all remaining construction permits Ready to Issue (RTI), located in the desirable La Sierra neighborhood of Riverside, CA.
The project is positioned to deliver 57 premium townhome residences across eight buildings and seven parcels totaling ±2.95 acres (±128,502 SF), offering an incoming developer a clear and immediate path to vertical construction.
Property Highlights
The approved plans yield ±69,498 net rentable square feet of residential dwelling space across a 2-bedroom/2-bathroom unit mix — 51 standard units at ±1,218 SF and six accessible units at ±1,230 SF — with a total average unit size of ±1,219 SF. Every residence includes a private covered balcony and a dedicated 2-car garage, with 57 total garages and 114 garage spaces across the site. The development is designed to deliver contemporary, high-quality townhomes with premium fixtures and fully equipped kitchens with state-of-the-art appliances.
Strategic Location & Connectivity
3907 Polk Street offers exceptional connectivity and proximity to key market drivers. Residents will benefit from walking-distance access to the Kaiser Permanente Riverside Medical Center and strong regional mobility via the 91 Freeway for direct travel to Orange County and broader Southern California, with additional access to the 15, 60, and 215 Freeways connecting to all major employment corridors. The Metrolink La Sierra Train Station is nearby, providing direct rail access to Los Angeles Union Station and the greater regional transit network.
Thriving Economy & Top Employers
The City of Riverside is a premier market defined by strong economic fundamentals and persistent housing demand, supported by an average household income of $88,575 within the trade area. The region is 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. Retail and lifestyle amenities are equally strong, with the Galleria at Tyler, La Sierra University, La Sierra High School, Castle Park, and Downtown Riverside all within minutes. Multifamily fundamentals across the broader Inland Empire metro continue to perform, with vacancy near its lowest point since 2022 and net absorption outpacing new supply.
Premier Development Opportunity
3907 Polk Street is a construction-ready development project in one of Riverside's most sought-after submarkets. With full entitlements secured, grading complete, and all remaining permits at RTI status, the site is primed for immediate vertical construction. The incoming developer has the option to complete a Condo Map with individually parceled APNs, unlocking maximum 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 development project in a premium Inland Empire location, 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.
The project is positioned to deliver 57 premium townhome residences across eight buildings and seven parcels totaling ±2.95 acres (±128,502 SF), offering an incoming developer a clear and immediate path to vertical construction.
Property Highlights
The approved plans yield ±69,498 net rentable square feet of residential dwelling space across a 2-bedroom/2-bathroom unit mix — 51 standard units at ±1,218 SF and six accessible units at ±1,230 SF — with a total average unit size of ±1,219 SF. Every residence includes a private covered balcony and a dedicated 2-car garage, with 57 total garages and 114 garage spaces across the site. The development is designed to deliver contemporary, high-quality townhomes with premium fixtures and fully equipped kitchens with state-of-the-art appliances.
Strategic Location & Connectivity
3907 Polk Street offers exceptional connectivity and proximity to key market drivers. Residents will benefit from walking-distance access to the Kaiser Permanente Riverside Medical Center and strong regional mobility via the 91 Freeway for direct travel to Orange County and broader Southern California, with additional access to the 15, 60, and 215 Freeways connecting to all major employment corridors. The Metrolink La Sierra Train Station is nearby, providing direct rail access to Los Angeles Union Station and the greater regional transit network.
Thriving Economy & Top Employers
The City of Riverside is a premier market defined by strong economic fundamentals and persistent housing demand, supported by an average household income of $88,575 within the trade area. The region is 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. Retail and lifestyle amenities are equally strong, with the Galleria at Tyler, La Sierra University, La Sierra High School, Castle Park, and Downtown Riverside all within minutes. Multifamily fundamentals across the broader Inland Empire metro continue to perform, with vacancy near its lowest point since 2022 and net absorption outpacing new supply.
Premier Development Opportunity
3907 Polk Street is a construction-ready development project in one of Riverside's most sought-after submarkets. With full entitlements secured, grading complete, and all remaining permits at RTI status, the site is primed for immediate vertical construction. The incoming developer has the option to complete a Condo Map with individually parceled APNs, unlocking maximum 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 development project in a premium Inland Empire location, 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.
Riverside County, California is the fourth largest county in California and the tenth largest in the United States. It’s about 180 miles wide and covers more than 7,300 square miles. The county is home to 2.4 million residents. Riverside County was created in 1893 from parts of San Diego and San Bernardino counties. The county’s name comes from the City of Riverside, which was named in 1871 when the Santa Ana River’s upper canal reached it. Riverside is a city in and the county seat of Riverside County, which has 24 nationally registered historic sites and more than 100 city landmarks. It also offers a variety of museums, theaters, festivals, markets, and unique shopping experiences. Riverside the most populous city in the Inland Empire and in Riverside County, and is about 50 miles southeast of downtown Los Angeles. Known for its citrus industry and as the city of arts and innovation, visitors and residents enjoy cultural activities including downtown museums, restaurants and performing arts centers.
Riverside is also more affordable than major Golden State cities like Los Angeles or San Francisco. Due to Riverside’s warm, dry climate, the average electricity rates are 33% lower than the California average. The Riverside Chamber of Commerce says that the real estate market’s growth is Riverside’s main economic driver. Riverside’s transportation, retail, employment, innovation and private investment all make up an attractive environment for businesses. Riverside has experienced $1.5 billion in private investment in the past five years while Riverside County’s retail market has been resilient. In 2021, employment gains were largest in leisure services, professional business services, private education and healthcare, and retail trade.
The Inland Empire, which includes Riverside and San Bernardino Counties, has a network of innovation centers that drive investment and job growth. The City of Riverside is committed to building inclusive partnerships for sustainable, resilient economic development through strategies to stimulate a favorable investment climate, welcome entrepreneurship, encourage industry and talent diversity, expand living wage jobs and support our unique quality of place. As a world-class city of Arts and Innovation, Riverside is the city of choice in Southern California: a place where people of diverse talents choose to work and live and where entrepreneurs and businesses choose to locate and invest. The City offers a rich agricultural heritage, unique architecture, affordable housing stock and business friendly environment that is unique to Southern California.
Anchored by two historic performing arts centers managed by Live Nation, downtown Riverside offers the best in nightlife and entertainment, all within steps of the Riverside Convention Center and downtown hotels. A lively restaurant, bar/pub and nightclub scene is a constant in downtown Riverside, with numerous annual festivals, including the famed six-week Festival of Lights (the Top Holiday Lighting event in the United States), the Lunar Fest, and Dicken’s Festival regularly enlivening downtown.
Riverside is also more affordable than major Golden State cities like Los Angeles or San Francisco. Due to Riverside’s warm, dry climate, the average electricity rates are 33% lower than the California average. The Riverside Chamber of Commerce says that the real estate market’s growth is Riverside’s main economic driver. Riverside’s transportation, retail, employment, innovation and private investment all make up an attractive environment for businesses. Riverside has experienced $1.5 billion in private investment in the past five years while Riverside County’s retail market has been resilient. In 2021, employment gains were largest in leisure services, professional business services, private education and healthcare, and retail trade.
The Inland Empire, which includes Riverside and San Bernardino Counties, has a network of innovation centers that drive investment and job growth. The City of Riverside is committed to building inclusive partnerships for sustainable, resilient economic development through strategies to stimulate a favorable investment climate, welcome entrepreneurship, encourage industry and talent diversity, expand living wage jobs and support our unique quality of place. As a world-class city of Arts and Innovation, Riverside is the city of choice in Southern California: a place where people of diverse talents choose to work and live and where entrepreneurs and businesses choose to locate and invest. The City offers a rich agricultural heritage, unique architecture, affordable housing stock and business friendly environment that is unique to Southern California.
Anchored by two historic performing arts centers managed by Live Nation, downtown Riverside offers the best in nightlife and entertainment, all within steps of the Riverside Convention Center and downtown hotels. A lively restaurant, bar/pub and nightclub scene is a constant in downtown Riverside, with numerous annual festivals, including the famed six-week Festival of Lights (the Top Holiday Lighting event in the United States), the Lunar Fest, and Dicken’s Festival regularly enlivening downtown.
Total Space Available
2.95 ac
Sale Price
$6,950,000
CommuterRail
La Sierra Metrolink Station
2 miles
5 min.
/drive
Airport
Ontario International Airport
20 miles
25 min.
/drive
Highway
91 Freeway
1 miles
2 min.
/drive
Get in touch
Eric Chen
Lic: 01489184
Blake Torgerson
Lic: 01919955