Exceptional investment opportunity in Lake Elsinore! Priced at $699,000, this property includes plans that have already been submitted to the city for approval to convert the existing structure into a modern 4-plex, with each of the four units featuring three bedrooms and two bathrooms. The building offers a total of 4,194 sqft of living space, set on an 11,326 sqft lot in a prime R-3 High-Density Residential Zone, ideal for multi-family projects.This property boasts scenic views of Lake Elsinore and the Ortega Mountains, and is close to Lake Elsinore Beachfront Park, the casino, and Diamond Stadium. Based on local rental rates, monthly income projections per unit range from $2,200 to $3,000, creating a compelling revenue stream for both long-term and short-term rentals. All permits and plans are ready, with construction able to begin upon approval, making this an excellent prospect in a growing area.In addition to this property, two adjacent lots may be available for purchase at the right price, expanding the investment potential even further.Don't miss this rare opportunity—schedule a viewing today!
|
DAYS ON MARKET
|
2
|
LAST UPDATED
|
11/6/2024
|
|
YEAR BUILT
|
1941
|
COMMUNITY
|
Southwest Riverside County
|
|
COUNTY
|
Riverside
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
| AIR |
Central Air |
| AIR CONDITIONING |
Yes |
| AREA |
Southwest Riverside County |
| GARAGE |
Asphalt, Driveway |
| HEAT |
Central |
| HOA DUES |
0 |
| LOT |
0.26 acre(s) |
| LOT DESCRIPTION |
Street Level |
| PARKING |
Asphalt,Driveway |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
1 |
| WATER |
Public |
| ZONING |
CP |
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Listed with Circle Real Estate
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 11/6/24 3:40 PM PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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