Crescent Mixed-Use Building | Prime Downtown Riverside Location

Starting Bid $500,000

Auctioneer: Emilio Lemeni

Auctioneer Company: c/o Fisher Auction Company Inc.

Auctioneer License: 961384

• Historic 1910 Crescent Building — 16,600 SF: Three-story brick building plus basement on University Ave in the heart of Downtown Riverside.
• Entitlements ~50% Complete Through City: Planning submittal 100% approved; Building & Safety first submittal approximately 50% complete.
• ~$115K Remaining Budget to Full Approval: Defined cost to complete entitlements includes consultant balance, mortar testing, and contingency.
• All Tenants on Month-to-Month Leases: Full flexibility for immediate repositioning, owner-user occupancy, or redevelopment upon closing.
• One Block from Mission Inn Hotel & Spa: Steps from Riverside Convention Center, City Hall, museums, restaurants, and Metrolink station.
• 245,000+ Residents; $104K Avg HH Income: Five-mile trade area of 77,093 households with strong consumer spending supports diverse end uses.

RealINSIGHT Marketplace, in partnership with Marcus & Millichap, is pleased to present the Crescent Building, a 16,600 SF historic three-story mixed-use property at 3466-3478 University Avenue in Downtown Riverside, California. Built in 1910 and situated on an 11,761 SF lot zoned C3, the building comprises ground-floor retail, upper-floor office space, and a basement, with soaring ceilings of 15 to 30 feet and significant architectural character. Preliminary redevelopment plans are fully approved through the Planning Department and approximately 50% complete through Building & Safety, with the remaining work limited to mortar testing and final structural seismic reinforcement engineering. The estimated remaining budget to reach full entitlement approval is approximately $115,000, inclusive of consultant contract balance, required testing, and a 10–15% contingency — providing incoming ownership with a clearly defined and costed path to execution. All current tenants are on month-to-month leases, offering maximum flexibility for repositioning, owner-user occupancy, or conversion to mixed-use residential, boutique hotel, creative office, or restaurant uses. The property is one block from the Mission Inn Hotel & Spa and proximate to Riverside City Hall, the Convention Center, and the 91 Freeway.