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Listed by SUSANA FRANCO • GOLDEN EAGLE PROPERTIES
$ 2,040,000
Est. payment /mo
Price Dropped by $10K
120 West Heald Lake Elsinore, CA 92530
7,800 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 7,800 sqft
Price per Sqft $261
MLS Listing ID IV-26024597
Year Built 1923
Lot Size 0.430 Acres
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Rare opportunity to acquire a stabilized 14-unit multifamily asset in a prime Lake Elsinore location near the lake and within walking distance to downtown, dining, and shopping. The property features a desirable unit mix of four studios, six 1-bed/1-bath units, and four 2-bed/1-bath units, all currently tenant occupied and generating immediate income.
Utilities are efficiently structured with separate gas and electric meters for each unit (14 total) and one shared water meter, helping reduce owner expenses. Situated on a large 18,730 sq ft lot across two APNs (374-173-002 & 374-173-003). No garage parking.
Strong rental demand and consistent occupancy provide stable cash flow, with clear upside potential through rent increases. Recent capital improvements include a new roof, making this an excellent opportunity for investors seeking a value-add or long-term hold in a growing Inland Empire market with strong tenant appeal.
Utilities are efficiently structured with separate gas and electric meters for each unit (14 total) and one shared water meter, helping reduce owner expenses. Situated on a large 18,730 sq ft lot across two APNs (374-173-002 & 374-173-003). No garage parking.
Strong rental demand and consistent occupancy provide stable cash flow, with clear upside potential through rent increases. Recent capital improvements include a new roof, making this an excellent opportunity for investors seeking a value-add or long-term hold in a growing Inland Empire market with strong tenant appeal.
Location
State CA
County Riverside
Area Srcar-Southwest Riverside County
Interior
Fireplaces Type None
Laundry None
Exterior
Parking Features Street
Pool None
Community Features Sidewalks
Building
Lot Description 11-15 Units/Acre
Sewer Public Sewer
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