Property listed by GOLDEN EAGLE PROPERTIES, SUSANA FRANCO, 800-763-7154.
$2,040,000
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… Read More 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. Read Less
Listing Snapshot
Days Online
261
Last Updated
Property Type
Apartment
Lot Size
0.43 Acres
Year Built
1923
MLS Number
IV26024597
Additional Details
Building
Built in 1923, 8 buildings, 1 storey, Levels: One, Entry level: 1, Entry location: Main Entrance
Community
Sidewalks
Expenses
Operating: $64,523
Fence
WroughtIron
Fireplaces
None
Home Owner's Association
Association Fee: $0
Income
Gross Income: $201,600, Gross ScheduledIncome: $201,600, Net Operating Income: $137,077
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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