120 W Heald AVE new Save Request In-Person Tour Request Virtual Tour
Lake Elsinore,CA 92530
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID IV25118584
Year Built 1923
Lot Size 0.430 Acres
Property Sub-Type Apartment
Property Description
Investment Opportunity – 14-Unit Multifamily Property in LAKE ELSINORE!
Rare opportunity to acquire a well-maintained 14-unit multifamily property featuring a strong unit mix: four studios (0 bed / 1 bath), six one-bedroom units (1 bed / 1 bath), and four two-bedroom units (2 bed / 1 bath). All units are unfurnished and currently tenant-occupied, with no garage parking. The property is separately metered for electricity and gas (14 meters each) with one shared water meter, offering efficient utility management.
Situated on a generous 18,730 sq ft lot (APNs: 374-173-002 and 374-173-003), the property is ideally located close to the lake and within walking distance to downtown, restaurants, and local shops. This prime location enhances tenant appeal and supports long-term rental stability. With consistent occupancy and strong rental demand, this property offers significant upside potential through rent increases and is ideal for investors seeking income stability and long-term growth in a high-demand market.
Location
State CA
County Riverside
Area Srcar - Southwest Riverside County
Zoning C1
Interior
Laundry None
Exterior
Pool None
Community Features Sidewalks
Building
Lot Description 11-15 Units/Acre
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Conventional,Submit
Listing Terms Conventional,Submit
Special Listing Condition Standard