$699,000
32989 Macy Street Lake Elsinore, CA 92530
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$699,000
Est. payment /mo
12 BD
8 BA
0.26 Acres Lot
New
32989 Macy Street Lake Elsinore, CA 92530
UPDATED:
11/07/2024 03:01 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB24228360
Bedrooms 12
HOA Y/N No
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 opportunityschedule a viewing today!
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 opportunityschedule a viewing today!
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 opportunityschedule a viewing today!
Location
State CA
County Riverside
Area Riv Cty-Lake Elsinore (92530)
Zoning Assessor
Interior
Cooling Central Forced Air
Building
Story 1
Level or Stories 1 Story
Others
Monthly Total Fees $9
Acceptable Financing Cash, Exchange, Seller May Carry
Listing Terms Cash, Exchange, Seller May Carry
Listed by Eric Baskett • Circle Real Estate
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