Residential Income - 176 Olive St, Lake Elsinore, CA

$549,000

176 Olive St, Lake Elsinore, CA

176 Olive St, Lake Elsinore, CA 92530 - $549,000 · Multi-Family Home for Sale, photo 3

176 Olive St, Lake Elsinore, CA 92530 - $549,000 · Multi-Family Home for Sale, photo 4

176 Olive St, Lake Elsinore, CA 92530 - $549,000 · Multi-Family Home for Sale, photo 5

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Description

Investor Special in Lake Elsinore! Rare opportunity to own a 3-unit multifamily property just one block from the town center, featuring lake views and situated on a large 17,000 sq. ft. lot. The property includes a 1BR/1BA unit, a studio, and a 2BR/1BA upper unit. When fully occupied, the property generates approximately $46000 + a year in rental income in current condition. 3 units are currently rented, one on a month-to-month basis and one with 4 months remaining on the lease. Hold to increase rental income or explore the development potential for more units or two separate building, ADU. Property is being sold as-is. Excellent location near downtown Lake Elsinore, schools, shopping, and easy freeway access. Great views of the Lake. Great opportunity for investors or developers looking to add value in a growing area!

Property details

Year built

1924

Property type

Residential Income

Lot size

17,424 sqft

Location

176 Olive St • Lake Elsinore, CA 92530

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Listed by

Summer Rampersad · Colleen K. Cotter

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Closed sales reported in 92530, nearest first, last 12 months. All recent sales in Lake Elsinore →

Sale history for 176 Olive St →