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.
16459 Joy Street presents a compelling multifamily investment opportunity in Lake Elsinore, CA. This 10-unit property features spacious three-bedroom townhome-style units with premium amenities, including central air and heat, private patios, and in-unit laundry hookups. Residents appreciate the convenience of private two-car garages, driveways, and some units even featuring a carport. Strategically situated near Lake Elsinore's scenic waterfront, the property is within walking distance to Machado Elementary School and proximate to Lakeside High School. Riverside Drive offers easy access to local retailers, restaurants, and grocers, while Interstate 15 provides seamless connectivity to regional employment hubs. With two units currently vacant, this property is ideal for owner-occupants seeking a prime location with growth potential. A comprehensive renovation plan can unlock significant rental premiums, capitalizing on strong demand for quality multifamily housing in this desirable SoCal market.
Come enjoy an incredible opportunity to own a beautifully upgraded income-producing duplex in the heart of Lake Elsinore. This exceptional property offers flexibility, strong rental potential, and modern living—all within walking distance to downtown dining, shopping, and just moments from the lake. The front unit has been completely remodeled and features 3 bedrooms, 2.5 bathrooms, and approximately 1,500 square feet of thoughtfully updated living space. With its modern finishes and inviting layout. This unit currently rents the shed in back for additional income. The rear unit, built in 2023, offers 3 bedrooms and 2 bathrooms with approximately 1,300 square feet of contemporary living. Both units are in excellent condition and each includes its own private laundry room, separate gas and electric meters, and a sub-metered water meter, making this an ideal setup for owner-occupants or investors alike. Front unit is currently rented, with the option for tenant-occupied or vacant delivery at close of escrow, offering flexibility to live in one and rent the other—or rent both and enjoy immediate income. Additional highlights include a shared driveway, well-maintained exteriors, and a prime downtown Lake Elsinore location that enhances long-term rental demand. Some reasons this is a great buy: Amazing rental opportunity, Live in one, rent the other—or rent both, Close to the lake and walkable to everything, Strong income potential in a growing area Please note: Photos have been digitally enhanced to remove tenants’ personal belongings for privacy and security. Don’t miss this rare opportunity to own a beautifully renovated, newer-construction duplex in one of Lake Elsinore’s most desirable locations. Schedule your private showing today and explore the income and lifestyle potential this exceptional property has to offer.
Great investment--Two homes on one oversized lot. Home #1 is a 2 bedroom, 1 bath home with family room, kitchen, and front room area, just under 700 sq ft of living space. Home #2 is 2 bedroom, 1 bath home with family room and kitchen area, just under 600 sq ft. Units need some TLC but has huge potential. Walking distance to downtown, parks, schools. One unit is currently listed. Long term tenant would like to stay. Both units can be turned over vacant, if buyer desires.
Exceptional 4-unit multifamily property (NEW CONSTRUCTION encopassing 2 diffrent and continious parcels) offering stable tenants and income, strong rental demand (when vacancies occur), and long-term growth potential. This new and well-maintained asset features a mix of spacious units, solid tenant history, and consistent cash flow, making it an excellent addition to any investment portfolio. Positioned in a desirable area with access to major amenities and transportation, the property offers upside through rent optimization and strategic improvements. With its reliable performance and very low-vacancy track record, these buildings are perfectly suited for 1031 exchange buyers seeking a secure a replacement property. Investors will appreciate the steady NOI, professional management options, and long-term value in a high-demand rental market. The property encompases a newly constructed two-story, four-unit residential building designed with modern comfort, efficiency, and style in mind. Each unit features an open-concept layout with abundant natural light, and contemporary finishes throughout. The building includes two units on the ground floor and two units on the second level, each offering private entrances for added convenience and privacy. Thoughtfully crafted with durable materials and energy-efficient systems, the property boasts sleek kitchens with quality cabinetry, spacious living areas, well-appointed bedrooms, indoor laundry area, and a stylish bathroom. Exterior highlights include clean architectural lines, fresh landscaping, and parking spaces for residents. A solid investment with upside for buyers looking to add value and capitalize on a classic multifamily asset in a desirable, well-positioned area.
Exceptional 3-unit multifamily property offering stable tenants and income, strong rental demand (when vacancies occur), and long-term growth potential. This well-maintained asset features a mix of spacious units, solid tenant history, and consistent cash flow, making it an excellent addition to any investment portfolio. Positioned in a desirable area with access to major amenities and transportation, the property offers upside through rent optimization and strategic improvements. The classic Craftsman style (3 separate unit buildings) offer character, functionality, and excellent long-term potential for investors or owner-occupants. Featuring well-proportioned units with original architectural details, the property blends vintage charm with practical living spaces. Each unit provides ample natural light, cozy layouts, and opportunities for thoughtful updates or value-add improvements. The buildings have been maintained over the years and offers steady rental income, with room to enhance returns through modernization or strategic renovations. Located in an established neighborhood close to amenities, transit, and employment hubs, this property appeals to tenants seeking affordability and character.
Exceptional investment opportunity! This well-maintained property is zoned C1, commercially zoned, it is a non-conforming use as a duplex. Each unit features comfortable living spaces, nice finishes, and its own entrance and well-appointed kitchens and bathrooms with a storage/coin laundry room. Enjoy strong rental potential. Conveniently located near shopping, dining, parks, and major transportation routes. With long-term upside! Don't miss this unique opportunity to expand your real estate portfolio! ( Photos are for illustrative purposes only, buyer to verify current conditions.) ALL INFORMATION DEEMED TO BE TRUE BUT NOT GUARANTEED
Calling all investors! Maximize your portfolio with this rare, turnkey duplex opportunity! Perfectly designed for high-yield rental income or sophisticated multi-generational living, this brand-new build offers a total of 2,369 sq. ft. of modern luxury. Primary Residence: Spacious 4-Bed, 2-Bath floor plan (1,519 sq. ft.) featuring an airy, open-concept layout and designer finishes. Private ADU/Unit: Fully independent 2-Bed, 1-Bath (850 sq. ft.)—ideal for short-term rentals or steady long-term tenants. Bonus Value: The oversized 2-car garage is extra-wide and prepped for potential conversion into a Junior ADU (buyer to verify with City), offering a third potential income stream! Key Features: Connected to sewer (no septic worries!), ample off-street parking, and lightning-fast access to the 15 Freeway. Just minutes from the lake for premier fishing and recreation. Note: High days on market is due to early promotion during the construction phase. The home is now complete and move-in ready! Seller is motivated—bring your offers!
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!
Located in the heart of Lake Elsinore’s revitalized downtown district, this versatile mixed-use property offers exceptional potential for both investors and owner-users. The building features a retail storefront on the ground floor, ideal for a boutique, café, professional office, or service business. Upstairs, you'll find a spacious 4 bedroom, 1 bath residential unit, perfect for an owner-occupant or as additional rental income. Live upstairs and operate your business below, or rent out both spaces for maximum return. Enjoy outstanding visibility and foot traffic thanks to the City’s ongoing Downtown Revitalization Initiative, a multi-faceted project transforming the Main Street corridor. Significant enhancements include the new City Hall at Main and Graham, pedestrian safety and infrastructure upgrades, and aesthetic improvements. Don’t miss this rare opportunity to invest in one of Southern California’s fastest-growing communities, where business meets lifestyle.
Back on the Market — Buyer Could Not Perform. Single-story duplex just blocks from the lake. Front unit offers 3 beds, 2 baths, fireplace, private yard, in-unit laundry, central A/C, and attached 2-car garage. Back unit features 2 beds, 1 bath, fireplace, private yard, laundry, and central A/C. Separate gas/electric meters and independent A/C systems. Strong rental potential or ideal for multigenerational living. Property sold AS-IS.
Lake Elsinore is located in California. Lake Elsinore, California has a population of 68,822. Lake Elsinore is more family-centric than the surrounding county with 41.53% of the households containing married families with children. The county average for households married with children is 35.14%.
The median household income in Lake Elsinore, California is $80,350. The median household income for the surrounding county is $76,066 compared to the national median of $69,021. The median age of people living in Lake Elsinore is 31.8 years.
The average high temperature in July is 96.2 degrees, with an average low temperature in January of 39 degrees. The average rainfall is approximately 12.1 inches per year, with 0 inches of snow per year.
