5743 Magnolia Ave Riverside, CA 92506

Attention Buyers!! Seller assisting with buyer's closing cost!! Discover a rare gem in Riverside's coveted Wood Streets Historic District - a stunningly reimagined Spanish Colonial Revival that seamlessly blends timeless architecture with modern upgrades and exceptional investment potential. This beautifully updated 3-bedroom, 1-bath home sits on a spacious lot with alley access and includes proposed plans for a detached 3-bedroom, 3-bath ADU, offering approximately 1,200 sq ft of additional living space - ideal for multigenerational living or future rental income. Enjoy the welcoming front porch to the rich architectural details throughout, every inch of this residence has been thoughtfully enhanced. Step into the formal living room and take in the striking barreled ceiling, abundant natural light, and sleek, state-of-the-art fireplace that anchors the space with modern elegance. Recent upgrades include: •Brand-new laminate flooring and baseboards •Eye-catching Moroccan tile accents •New interior and exterior doors •Reimagined kitchen with quartz countertops, stainless steel appliances, and a walk-in pantry •Fully remodeled bathroom with dual vanities and designer tile •All-new electrical and plumbing system •Tankless water heater and recessed lighting throughout •Recently installed mini-split systems for efficient cooling, alongside the existing swamp cooler •Dedicated laundry room with updated hookups and finishes. The expansive backyard offers endless possibilities - from outdoor entertaining and gardening to building the perfect ADU with easy alley access. The long driveway provides plenty of parking, complemented by a detached one-car garage for additional storage or vehicle space. Enjoy the convenience of a fully automated sprinkler and drip system, making yard maintenance effortless while keeping your landscaping lush year-round. Perfectly located near top-rated schools, parks, Downtown Riverside, shopping, dining and with easy access to the 91 and 60 freeways. Whether you're searching for a forever home full of charm or a smart investment with long-term upside, this exceptional property delivers on all fronts. Opportunities like this don't come often - schedule your private tour today and unlock the full potential of this extraordinary home.