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$5,850,000

4618 Jones

Riverside, CA 92505

Active

Riverside

County

Land

Property Type

About this home

The Mikasa Luxury Villas development site is a fully entitled 117-unit multi-family project located at 4618 Jones Ave & 4663-4705 Hendrick Ave in the La Sierra neighborhood of the city of Riverside. The project was approved by the Riverside City Council on April 21, 2026 for the development of a 117-unit multi-family building on a site of 4.54 acres. The development will be Type V-A construction (woodframe/slab on grade) and will be composed of 15 multi-family buildings, 10 of which will be 2-story and 5 of which will be 3-story structures. The unit mix will be 43 one-bedroom units, 73 two-bedroom units, and one studio. The project also includes a community hall, gym, pool, spa and play area. Architectural features will include balconies/patios, smooth finish stucco, accent stone laminate, wood siding, metal guardrails and flat roofs. A total of 215 parking spaces will be provided, 175 garage spaces plus 40 open spaces. Building construction will total approximately 193,421 square feet of new development. The site is located street-to-street between Jones Ave and Hendrick Ave with the main entrance on Jones Ave. The site is surrounded by two-story multifamily located to the south and one-story, single-family residences to the west, north, and east. The site is also located only 1.3 miles north of the 91 freeway.

Listed by Matthew Wenzel · DRE #01198357 · Marcus & Millichap

MLS #1191338143

ListedSep 21, 2026

Property Details

Architecture

StoriesN/A

StyleN/A

Total UnitsN/A

RoofN/A

Garage SpacesN/A

PoolN/A

SpaN/A

Features & Amenities

Interior FeaturesN/A

Exterior FeaturesN/A

FlooringN/A

CoolingN/A

HeatingN/A

FireplaceN/A

LaundryN/A

Parking FeaturesN/A

Parking TotalN/A

Patio & PorchN/A

Entry LevelN/A

Entry LocationN/A

Common WallsN/A

Property Features

Lot Size4.54 ac

Lot FeaturesLot Over40000 Sqft, Value In Land

ViewHills

DirectionsNorth of Hole Ave, Frontage on both Jones Ave and Hendrick Ave

Community

Area252 - Riverside

School DistrictN/A

Tax & Financial

TermsCash, Cash To New Loan

Land LeaseNo

HOA NameN/A

HOA FeeN/A

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Mortgage Estimate

$31,136/mo

20% down · 7% APR · 30-yr fixed

Purchase PriceDown Payment: 20%Interest Rate: 7%

Estimate only. Does not include taxes, insurance, or HOA.

Last updated: October 21, 2026 at 3:30 PM

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