120 W Heald, Lake Elsinore, CA 92530
- $2,050,000
- List Price
- $2,050,000
- Price Change
- ▼ $50,000 1776481152
- Status
- ACTIVE
- MLS#
- IV26024597
- Year Built
- 1923
- Lot Size
- 18,730
- Acres
- 0.43
- Lot Location
- 11-15 Units/Acre
- Days on Market
- 57
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- One Level
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.
Additional Information
- Pool Description
- None
- Roof
- Shingle
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 14
- Gross Scheduled Income
- $201,600
- Operating Expense
- 64523
Listing courtesy of Listing Agent: SUSANA FRANCO (susana.franco27@gmail.com) from Listing Office: GOLDEN EAGLE PROPERTIES.
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