176 Olive St, Lake Elsinore, CA 92530
- $549,000
- List Price
- $549,000
- Status
- ACTIVE
- MLS#
- 260017737SD
- Year Built
- 1924
- Lot Size
- 17,424
- Acres
- 0.40
- Days on Market
- 7
- Property Type
- Multifamily
- Stories
- Two Levels
- Neighborhood
- San Diego
Property 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!
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Additional Information
- Cooling Description
- None
- Roof
- Rolled/Hot Mop
- Attached Structure
- Detached
- Number Of Units Total
- 3
- Gross Scheduled Income
- $48,020
Listing courtesy of Listing Agent: Summer Rampersad (summersells92101@gmail.com) from Listing Office: Colleen K. Cotter.
Mortgage Calculator
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