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.
Lot/land
Listed by: Marcus & Millichap • Matthew Wenzel • Contact: matthew.wenzel@marcusmillichap.com
$5,850,000
4618 Jones Ave Lot 29, Riverside, CA 92505
--beds
--baths
4.54Acres
Unimproved Land
Built in ----
4.54 Acres Lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
- 4 days
- 28
- 0
Zillow last checked:
Listing updated:
Listed by:
Matthew Wenzel DRE #01198357 matthew.wenzel@marcusmillichap.com,
Marcus & Millichap
Source: CRMLS,MLS#: PW26208203
Originating MLS: California Regional MLS
Facts & features
Property
Features
- Has view: Yes
- View description: Hills
Lot
- Size: 4.54 Acres
- Features: Lot Over 40000 Sqft, Value In Land
Details
- Additional parcels included: 143040010, 143040011
- Parcel number: 143040012
- Zoning: R-3-1500
- Special conditions: Standard
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Available, Sewer Available, Water Available
Community & HOA
Community
- Features: Suburban
Location
- Region: Riverside
Financial & listing details
- Date on market: 9/23/2026
- Cumulative days on market: 4 days
- Listing terms: Cash,Cash to New Loan
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 9/23/2026 | Listed for sale | $5,850,000 |
Source: | ||
Public tax history
Tax history is unavailable.
Monthly payment
Climate risks
Neighborhood: La Sierra
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