228 S Spring
Lake Elsinore, CA, 92530
$2,400,000
7 Beds
3 Baths
3,823 SqFt
0.17 Acres
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MLS #IG26203297 image #0
HISTORIC LAKE VIEW PROPERTY | 2 PARCELS | 5 BEDROOMS | SEPARATE 1,300± SF STRUCTURE | MIXED-USE ZONING

Rare opportunity to own a historic Lake Elsinore property with stunning, unobstructed lake views and exceptional potential. The main residence offers 5 bedrooms and 2 bathrooms, featuring 3 bedrooms downstairs and 2 bedrooms upstairs. The spacious interior includes two separate living areas, original cedar beam ceilings, crown molding, original cedar wood floors, a charming parlor, built-in china cabinet, and 3 fireplaces with original granite stone. All rooms have potential of being converted to commercial office area, restaurant, retail shops etc etc THE POSSIBILITIES ARE ENDLESS. Central A/C and heat and updated copper plumbing add modern convenience while preserving the home’s historic character. The primary suite features panoramic lake views and a private balcony.

The property also includes a separate structure with its own address at 125 Library St. The structure has a separate electric meter, new electrical box and electrical installation, and shares a water meter with the main house. Seller states the structure is grandfathered as a second unit. This structure is unfinished and can be converted to Residential or Commercial use.

Both parcels are included or can be sold separately.

The property is located within a mixed-use zoning designation, offering potential for a variety of residential and commercial uses, subject to city approval and applicable zoning regulations. Potential uses to investigate may include residential, office, retail, coffee shop, restaurant, boutique, hotel, church, spa, and other mixed-use concepts.

Conveniently located in the Historic heart of Lake Elsinore, within walking distance to the lake and minutes from the 15 Freeway. NO HOA and low taxes. A unique opportunity for an owner-user, investor, or buyer seeking a property with historic character, lake views, multiple structures, and future potential.

Property Details

Price:
$2,400,000
MLS #:
IG26203297
Status:
Active
Beds:
7
Baths:
3
Type:
Single Family
Subtype:
Single Family Residence
Neighborhood:
srcarsouthwestriversidecounty
Listed Date:
Sep 16, 2026
Finished Sq Ft:
3,823
Lot Size:
7,405 sqft / 0.17 acres (approx)
Year Built:
1942
Srcar – Southwest Riverside CountySrcarsouthwestriversidecountyLake Elsinore UnifiedPark/greenbelt

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Schools

School District:
Lake Elsinore Unified

Interior

Bathrooms
3 Full Bathrooms
Cooling
CA
Heating
CF
Interior Features
BL
Laundry Features
IR
Levels
A
Main Level Bathrooms
1
Main Level Bedrooms
3

Exterior

Common Walls
NCW
Community Features
LAKE, FISH
Garage Spaces
2
Parking Spots
2
Parking Total
2
View
LA, MT, PK

Financial

Map

Community

Market Summary

Current real estate data for Single Family in Lake Elsinore as of Sep 28, 2026
391
Single Family Listed
66
Avg DOM
285
Avg $ / SqFt
$586,134
Avg List Price

Property Summary

    228 S Spring Lake Elsinore CA is a Single Family for sale in Lake Elsinore, CA, 92530. It is listed for $2,400,000 and features 7 beds, 3 baths, and has approximately 3,823 square feet of living space, and was originally constructed in 1942. The current price per square foot is $628. The average price per square foot for Single Family listings in Lake Elsinore is $285. The average listing price for Single Family in Lake Elsinore is $586,134.

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228 S Spring
Lake Elsinore, CA