32989 Macy Street
Lake Elsinore, CA 92530
Active for $699,000
Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 11,326 sqft
| MLS | SB24228360 |
| Year Built | 1941 |
| Property Type | Quadruplex |
| County | Riverside |
| Status | Active |
| Active | $699,000 |
| Structure Size | N/A sqft |
| Lot Size | 11,326 sqft |
| Beds | N/A |
| Baths | N/A |
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!
Listing information courtesy of: Eric Baskett, Circle Real Estate 310-564-6640. *Based on information from the Association of REALTORS/Multiple Listing as of 11/15/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Silvana Kshishi
REALTOR®
Direct: 818.421.3833
Email: Email Me
DRE: 02048192
DRE #01873088
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