23
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$2,050,000
Est. payment /mo
3 Beds
3 Baths
0.43 Acres Lot
Price Dropped by $50K
120 W Heald Lake Elsinore, CA 92530
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID IV26024597
Bedrooms 3
Lot Size 0.430 Acres
Property Sub-Type Res Income 2-4 Units
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.
Location
State CA
County Riverside
Zoning Assessor
Direction Main St./Heald Ave
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 374173002
Acceptable Financing Conventional, Exchange
Listing Terms Conventional, Exchange
Listed by SUSANA FRANCO, DRE#01852097 GOLDEN EAGLE PROPERTIES
NEARBY SCHOOL & BUSINESS