
Riverside, California 92505
This High-Potential Investment Opportunity is listed at $725,000, positioned above the $646,737 Fair Market Value. While priced above current estimates, the property offers a 31,363 sq. ft. lot with significant Development Potential for additional units. Featuring a Condition Rating of 3, the duplex includes recent capital improvements like a 2022 roof and mini-split HVAC systems. This asset provides a stable Dual Income Stream, making it a strategic acquisition for Buy-and-Hold Investors or Multi-Generational Homeowners seeking long-term growth.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 10351 Wells Avenue 1 Subject | $725,000* List Price | 0 | 0 | 1,638 | $395 | - |
A 10881 Sunnyslope 2 Sold | $675,000 | 0 | 0 | 2,008 | $336 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Despite the 1948 build date, the property is well-maintained and features significant recent upgrades including a new roof (2022) and modern mini-split HVAC systems. The interiors have been updated with maple cabinetry, recessed lighting, and a mix of laminate and tile flooring, making both units move-in ready and functional for tenants.
The massive 31,363 sq. ft. lot provides a rare opportunity to potentially add one or two additional units, significantly increasing the property's density and long-term value.
With a roof replacement completed in 2022 and the installation of modern mini-split HVAC systems, the property offers reduced immediate maintenance costs for investors.
The property features two separate, well-maintained homes on a single lot, providing immediate rental income and flexibility for multi-generational living or owner-occupancy.
Built in 1948, the property may have underlying aged plumbing or electrical systems that could require future updates despite recent cosmetic and roof improvements.
Future expansion is subject to independent verification of zoning and city permits, which may present bureaucratic hurdles or limitations for buyers looking to maximize the lot.
Prime Riverside Investment Opportunity — Two Homes on an Expansive Lot! Exceptional investment opportunity in Riverside! Located at 10351 & 10353 Wells Avenue, this unique property features two separate homes on an impressive 31,363 sq. ft. lot, offering tremendous potential for investors and multi-generational living. The property currently provides existing rental income from two well-maintained units, while the expansive lot presents an exciting opportunity to explore the possibility of adding one or two additional units (Buyer to independently verify development/building potential, zoning, permits, and requirements with the City of Riverside). The front home offers a spacious and inviting living room with recessed lighting and a cozy fireplace, tile and laminate wood flooring, upgraded maple cabinetry, a mini-split HVAC system, pantry/utility room, one-car attached garage, and washer/dryer hookups. Enjoy your own private patio and yard—perfect for relaxing or entertaining family and friends. The rear unit also features upgraded maple cabinetry, washer and dryer hookups, a private yard, and a mini-split HVAC system. Both homes have been thoughtfully upgraded and are well cared for by the current tenants. Additional highlights include a roof replacement completed in 2022 and an abundance of parking, with plenty of room for multiple vehicles, trucks, RVs, recreational toys, and more. Conveniently located near freeways, Galleria Mall, shopping centers, restaurants, and everyday amenities, this property combines current income-producing potential with valuable future possibilities. Opportunities like this are hard to find! Whether you're looking to expand your investment portfolio, generate rental income, or take advantage of the property's substantial land and development potential, this Riverside property is worth a closer look. Please DO NOT disturb Tenants.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.3 |
| Baths | 0.0 | 3.4 |
| Square foot | 1,638 | 2,079.818 |
| Lot Size | 31,363 | 8,474.636 |
| Price | $725.0K | $838.8K |
| Price per sq ft | $443 | $378 |
| Built year | 1948 | 1978 |
| HOA | $0 | $249 |
| Days on market | 4 | 77 |
Sep 5, 2026
$725,000
Initial Listing
Aug 31, 2018
$409,000
Public Record
Apr 1, 2011
$230,000
Public Record