Property listed by Re/Max Partners, Benjamin Rubalcava, 951-278-8755.
$500,000
SIGNIFICANT PRICE REDUCTION! RARE LAKE ELSINORE INVESTMENT & DEVELOPMENT OPPORTUNITY! Discover approximately 1.15 acres (50,094 sq. ft.) of flat, usable land with reported General Commercial Mixed-Use (C-1/C-P) zoning, beautiful lake views, and exceptional potential. The property includes an existing 1,637-sq.-ft., 3-bedroom, 2.5-bath home, swimming pool, and expansive outdoor space. Conveniently… Read More located near Grand Avenue, with an adjacent fire station and limited neighboring residences, this unique property offers privacy, accessibility, and multiple possibilities for investors and developers.
FIVE POTENTIAL INVESTMENT STRATEGIES are illustrated in the photos: (1) Retain the existing home and explore adding a second residence; (2) Explore commercial redevelopment; (3) Retain the home and explore two detached 800-sq.-ft. ADUs with proposed garages; (4) Explore dividing the property into two approximately 25,047-sq.-ft. parcels for future development, resale, or investment; or (5) Remodel the existing home for personal use or potential long-term rental income.
IMPORTANT PROPERTY CONDITION: The existing residence is approximately 130 years old and requires substantial remodeling and updating. This is NOT a turnkey property. The newly reduced asking price reflects the home’s age and condition. Buyers considering retaining the residence should anticipate renovation expenses and conduct appropriate inspections.
INVESTMENT POTENTIAL: Whether your vision involves renovating, renting, holding, subdividing, or exploring commercial redevelopment, this property’s combination of usable acreage, existing improvements, and reported commercial zoning offers several possibilities worth investigating.
IMPORTANT DISCLOSURE: Photos include actual property images and digitally generated CONCEPTUAL RENDERINGS ONLY. Proposed homes, ADUs, garages, parcel divisions, and other depicted improvements are not existing or approved improvements and are not included in the sale. All concepts require additional investment and applicable permits and approvals. Buyer to independently verify condition, square footage, lot size, zoning, permitted uses, ADU and subdivision eligibility, rental restrictions, utilities, setbacks, costs, and approvals with the appropriate governing agencies. No development outcome, rental income, or investment return is guaranteed. Read Less
Based on information from California Regional Multiple Listing Service, Inc. as of 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.
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