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Price Drop: $10K (10/20)
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Listed by: SUSANA FRANCO (951) 591-2458 DRE #01852097 | GOLDEN EAGLE PROPERTIES (800) 763-7154
$2,040,000
Monthly Est:$10,154
3 Beds
3 Baths
7,800sqft
120 W Heald, Lake Elsinore, CA 92530
$2,040,000
$10,154/moEst:
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Apartment
Built in 1923
$-- HOA
18,730 sqft lot
$262/sq.ft
Description
Rare opportunity to acquire a stabilized 14-unit multifamily asset in a prime Lake Elsinore location near the lake and within walking distance to downtown, dining, and shopping. The property features a desirable unit mix of four studios, six 1-bed/1-bath units, and four 2-bed/1-bath units, all currently tenant occupied and generating immediate income.
Utilities are efficiently structured with separate gas and electric meters for each unit (14 total) and one shared water meter, helping reduce owner expenses. Situated on a large 18,730 sq ft lot across two APNs (374-173-002 & 374-173-003). No garage parking.
Strong rental demand and consistent occupancy provide stable cash flow, with clear upside potential through rent increases. Recent capital improvements include a new roof, making this an excellent opportunity for investors seeking a value-add or long-term hold in a growing Inland Empire market with strong tenant appeal.
- Houzeo last checked: 12 hours ago
- Listing updated: October 20, 2026 at 7:44 pm
- Source: California Regional MLS-CA | MLS#: IV26024597
Property Details
Status
Active
Type
Multi Family
No. of Stories
1
County
City
Neighborhood
--
Year Built
1923
HOA Fees
-
Finished Area
7,800 sqft
Lot Size
18,730 sqft lot
Basement Area
- sqft
MLS Name
California Regional MLS
MLS Number
IV26024597
MLS Status
Active
Days on Market
5
Cumulative Days on Market
122
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 3
Bathrooms: 3
Interior
Sewer
Public Sewer
Construction
Year Built
Year Built: 1923
Home type
Apartment
Roof
Shingle
Utilities & Energy
Fireplace Features
None
Water Source
Public
Laundry Features
None
Pool Features
None
Parking Features
On Street
Other Features
Community Features
Sidewalks
Lot Features
Eleven To Fifteen Units Acre
Tenant Pays
Electricity, Gas
Price History
| Date | Event | Price |
|---|---|---|
09/30/2026 Source: | Off Market | $2,040,000 -0.49% $262/sqft |
08/02/2026 Source: | Listed for Sale | $2,050,000 $263/sqft |
06/16/2026 Source: | Pending | $2,050,000 $263/sqft |
04/29/2026 Source: | Off Market | $2,050,000 $263/sqft |
04/17/2026 Source: | Price Decreased | $2,050,000 -2.38% $263/sqft |
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Based on information from California Regional Multiple Listing Service, Inc. as of Oct 23, 2026, 08:45PM and /or other sources. 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. Information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This website may not include listings or property addresses of sellers who have directed their listing brokers to withhold their listing or their property address from display on the Internet. © 2026 California Regional Multiple Listing Service. All Rights Reserved.
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