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Listed by SUSANA FRANCO • GOLDEN EAGLE PROPERTIES
$ 2,250,000
Est. payment /mo
Active
120 West Heald Avenue 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 $288
MLS Listing ID IV-25118584
Year Built 1923
Lot Size 0.430 Acres
Property Sub-Type Apartment
Property Description
Investment Opportunity - 14-Unit Multifamily Property in LAKE ELSINORE! Rare opportunity to acquire a well-maintained 14-unit multifamily property featuring a strong unit mix: four studios (0 bed / 1 bath), six one-bedroom units (1 bed / 1 bath), and four two-bedroom units (2 bed / 1 bath). All units are unfurnished and currently tenant-occupied, with no garage parking. The property is separately metered for electricity and gas (14 meters each) with one shared water meter, offering efficient utility management. Situated on a generous 18,730 sq ft lot (APNs: 374-173-002 and 374-173-003), the property is ideally located close to the lake and within walking distance to downtown, restaurants, and local shops. This prime location enhances tenant appeal and supports long-term rental stability. With consistent occupancy and strong rental demand, this property offers significant upside potential through rent increases and is ideal for investors seeking income stability and long-term growth in a high-demand market.
Location
State CA
County Riverside
Zoning C1
Interior
Laundry None
Exterior
Parking Features Gated
Pool None
Community Features Sidewalks
Building
Lot Description 11-15 Units/Acre
Sewer Public Sewer