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Multi-Family

Wells Avenue

Wells Avenue, Riverside, CA 92503

Listing Price: $600,000

Lot Size
1.34 acres
Price/Acre
$447,764
Land Type
Land

Investment Overview

Marcus & Millichap is pleased to offer for sale the ± 1.34 acre residential development site located on the south side of Wells Road one parcel east of Tyler Street in the Arlanza community of Riverside, California. The site is generally flat and rectangular in shape with 175’ of frontage along Wells Road. The property is zoned R-1-7000 residential which allows for up to 6.2 dwelling units per acre. The General Plan Land Use designation for this site is Medium Density Residential. The Medium Density Residential designation provides for the development of single-family homes, townhomes and row houses. This designation allows a maximum of 6.2 dwelling units per acre, or up to 8.0 dwelling units per acre when associated with a Planned Residential Development (PRD) permit. With a density of 6.2 du/acre, this site would support a project of 8 lots, with a density of 8 du/acre the project could be up to 10 lots. This site is located on the southern side of Wells Avenue, one parcel to the east of busy Tyler Street. The neighbor to the immediate west is the Tyler Plaza retail center and the neighbors directly across Wells Road include a church and a Montessori school. The majority of the remaining neighborhood surrounding the site is residential in nature.

Investment Highlights

  • ± 1.34 Acre Parcel of Medium Density Residential Land in a Great West Riverside Location
  • Zoning on the Site is R-1-7000 allows for up to 6.2 du/acre
  • General Plan Land Use is Medium Density Residential
  • Planned Residential Development (PRD) Permit would allow up to 8 du/acre (10 lots total)
  • Demand for Residential Housing in Western Riverside Remains Very Strong

Exclusively Listed By

Multi-Family

Wells Avenue

Listing Price: $600,000

Lot Size
1.34 acres
Price/Acre
$447,764
Land Type
Land

Investment Highlights

  • ± 1.34 Acre Parcel of Medium Density Residential Land in a Great West Riverside Location
  • Zoning on the Site is R-1-7000 allows for up to 6.2 du/acre
  • General Plan Land Use is Medium Density Residential
  • Planned Residential Development (PRD) Permit would allow up to 8 du/acre (10 lots total)
  • Demand for Residential Housing in Western Riverside Remains Very Strong

Investment Overview

Marcus & Millichap is pleased to offer for sale the ± 1.34 acre residential development site located on the south side of Wells Road one parcel east of Tyler Street in the Arlanza community of Riverside, California. The site is generally flat and rectangular in shape with 175’ of frontage along Wells Road. The property is zoned R-1-7000 residential which allows for up to 6.2 dwelling units per acre. The General Plan Land Use designation for this site is Medium Density Residential. The Medium Density Residential designation provides for the development of single-family homes, townhomes and row houses. This designation allows a maximum of 6.2 dwelling units per acre, or up to 8.0 dwelling units per acre when associated with a Planned Residential Development (PRD) permit. With a density of 6.2 du/acre, this site would support a project of 8 lots, with a density of 8 du/acre the project could be up to 10 lots. This site is located on the southern side of Wells Avenue, one parcel to the east of busy Tyler Street. The neighbor to the immediate west is the Tyler Plaza retail center and the neighbors directly across Wells Road include a church and a Montessori school. The majority of the remaining neighborhood surrounding the site is residential in nature.

Exclusively Listed By

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