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$ 2,050,000
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120 W Heald Lake Elsinore, CA 92530
0.43 Acres Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID IV26024597
HOA Y/N No
Year Built 1923
Lot Size 0.430 Acres
Property Sub-Type Apartment
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.
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
Area Srcar - Southwest Riverside County
Interior
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Parking Features On Street
Fence Wrought Iron
Pool None
Community Features Sidewalks
Roof Type Shingle
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 374173002
Acceptable Financing Conventional, 1031 Exchange
Listing Terms Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by SUSANA FRANCO GOLDEN EAGLE PROPERTIES 951-591-2458, DRE #01852097
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