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.
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.
Property Details
Price:
$2,250,000
MLS #:
IV25118584
Status:
Active
Baths:
0
Address:
120 W Heald Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
srcarsouthwestriversidecounty
City:
Lake Elsinore
Listed Date:
May 26, 2025
State:
CA
ZIP:
92530
Lot Size:
18,730 sqft / 0.43 acres (approx)
Year Built:
1923
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Schools
Interior
Exterior
Community Features
Sidewalks
Garage Spaces
0.00
Lot Features
11-15 Units/ Acre
Parking Spots
0.00
Pool Features
None
Sewer
Public Sewer
Stories Total
1
Water Source
Public
Financial
Map
Community
- Address120 W Heald Avenue Lake Elsinore CA
- AreaSRCAR – Southwest Riverside County
- CityLake Elsinore
- CountyRiverside
- Zip Code92530
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120 W Heald Avenue
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