176 Olive St, Lake Elsinore, CA 92530 - MLS#250042311

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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 575,000

Est. payment | -/mo

3 Beds

3 Baths

0.4 Acres Lot

Save Virtual Tour

$ 575,000

Est. payment | -/mo

Save Virtual Tour

3 Beds

3 Baths

0.4 Acres Lot

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Subdivision San Diego

MLS Listing ID 250042311

Bedrooms 3

Full Baths 3

Year Built 1924

Lot Size 0.400 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

Investor Special in Lake Elsinore! 176 Olive Street offers a 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 (vacant). When fully occupied, the property generates approximately $46000 a year in rental income. Two units are currently rented, one on a month-to-month basis and one with 4 months remaining on the lease. Quick fix and hold to increase rental income or explore the development potential for multiple units or two separate buildings (buyer to verify with city). 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!

Location

State CA

County Riverside

Zoning R3

Direction Use Google maps.

Interior

Fireplace No

Exterior

View Y/N No

Roof Type Rolled/Hot Mop

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 373-152-009

Acceptable Financing Other/Remarks

Listing Terms Other/Remarks

Virtual Tour https://www.propertypanorama.com/instaview/snd/250042311

Listed by Summer Rampersad Colleen K. Cotter

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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176 Olive St Lake Elsinore, CA 92530