$ 699,000
32989 Macy Street Lake Elsinore, CA 92530
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Eric Baskett • Circle Real Estate
$ 699,000
Est. payment /mo
New
32989 Macy Street Lake Elsinore, CA 92530
4,200 SqFt
UPDATED:
11/07/2024 03:26 AM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,200 sqft
Price per Sqft $166
MLS Listing ID CRSB24228360
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1941
Lot Size 0.260 Acres
Property Description
Exceptional investment opportunity in Lake Elsinore! Priced at $699,000, this property includes plans that have already been submitted to the city for approval to convert the existing structure into a modern 4-plex, with each of the four units featuring three bedrooms and two bathrooms. The building offers a total of 4,194 sqft of living space, set on an 11,326 sqft lot in a prime R-3 High-Density Residential Zone, ideal for multi-family projects. This property boasts scenic views of Lake Elsinore and the Ortega Mountains, and is close to Lake Elsinore Beachfront Park, the casino, and Diamond Stadium. Based on local rental rates, monthly income projections per unit range from $2,200 to $3,000, creating a compelling revenue stream for both long-term and short-term rentals. All permits and plans are ready, with construction able to begin upon approval, making this an excellent prospect in a growing area. In addition to this property, two adjacent lots may be available for purchase at the right price, expanding the investment potential even further. Don't miss this rare opportunity—schedule a viewing today!
Location
State CA
County Riverside
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry No Hookups
Exterior
Parking Type Other
Building
Lot Description Other
Water Public
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