
Riverside, California 92505
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 units (SFD with a Secondary Unit) 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.
Property is move-in ready.
While originally built in 1948, the property has undergone significant renovations including a new roof in 2022 and the installation of modern mini-split HVAC systems. The interiors feature upgraded maple cabinetry, recessed lighting, and updated flooring, placing it in the well-maintained, move-in ready category consistent with a 5-15 year renovation cycle.
The massive 31,363 sq. ft. lot provides a rare opportunity to potentially add one or two additional units, offering substantial upside for investors looking to maximize density.
With two separate, well-maintained homes already on-site, the property generates immediate rental income and is ideal for multi-generational living or a portfolio expansion.
Key upgrades including a roof replacement in 2022, mini-split HVAC systems, and modernized maple cabinetry reduce the need for immediate capital expenditures.
The property is currently tenant-occupied with instructions not to disturb, which may limit immediate access for inspections and delay possession for owner-occupants.
Future development is contingent on the buyer independently verifying complex zoning, permits, and city requirements, which introduces an element of risk and due diligence effort.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.3 |
| Baths | 2.0 | 3.4 |
| Square foot | 1,638 | 1,998.667 |
| Lot Size | 31,363 | 8,240.333 |
| Price | $725.0K | $839.1K |
| Price per sq ft | $443 | $385 |
| Built year | 1948 | 1975 |
| HOA | $0 | $249 |
| Days on market | 42 | 72 |
Sep 12, 2026
$725,000
Initial Listing
Aug 31, 2018
$409,000
Public Record
Apr 1, 2011
$230,000
Public Record