120 W Heald Ave Lake Elsinore, CA 92530
Lake Elsinore Historic District NeighborhoodEstimated payment $13,454/month
About This Home
Investment Opportunity – 14-Unit Multifamily Property in LAKE ELSINORE!
Rare opportunity to acquire a well-maintained 14-unit multifamily property featuring a strong unit mix: four studios (0 bed / 1 bath), six one-bedroom units (1 bed / 1 bath), and four two-bedroom units (2 bed / 1 bath). All units are unfurnished and currently tenant-occupied, with no garage parking. The property is separately metered for electricity and gas (14 meters each) with one shared water meter, offering efficient utility management.
Situated on a generous 18,730 sq ft lot (APNs: 374-173-002 and 374-173-003), the property is ideally located close to the lake and within walking distance to downtown, restaurants, and local shops. This prime location enhances tenant appeal and supports long-term rental stability. With consistent occupancy and strong rental demand, this property offers significant upside potential through rent increases and is ideal for investors seeking income stability and long-term growth in a high-demand market.
Listing Agent
GOLDEN EAGLE PROPERTIES Brokerage Phone: 951-591-2458 License #01852097 Listed on: 05/28/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1923
Lot Details
- 0.43 Acre Lot
- 1 Common Wall
- Density is 11-15 Units/Acre
- 374173003
Home Design
- Apartment
Interior Spaces
- 7,800 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Listing and Financial Details
- Legal Lot and Block 8 / 21
- Assessor Parcel Number 374173002
- $452 per year additional tax assessments
Community Details
Overview
- 8 Buildings
- 14 Units
Building Details
- 14 Separate Electric Meters
- 14 Separate Gas Meters
- 1 Separate Water Meter
- Gross Income $201,600
- Net Operating Income $137,077
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/18/2025 07/18/25 | Price Changed | $2,100,000 | -4.5% | $269 / Sq Ft |
| 06/28/2025 06/28/25 | Price Changed | $2,200,000 | -2.2% | $282 / Sq Ft |
| 05/28/2025 05/28/25 | For Sale | $2,250,000 | +87.5% | $288 / Sq Ft |
| 09/28/2019 09/28/19 | Sold | $1,200,000 | -7.0% | $190 / Sq Ft |
| 08/08/2019 08/08/19 | Pending | -- | -- | -- |
| 08/02/2019 08/02/19 | Price Changed | $1,290,000 | 0.0% | $205 / Sq Ft |
| 08/02/2019 08/02/19 | For Sale | $1,290,000 | -3.9% | $205 / Sq Ft |
| 07/17/2019 07/17/19 | Pending | -- | -- | -- |
| 06/14/2019 06/14/19 | For Sale | $1,342,000 | 0.0% | $213 / Sq Ft |
| 06/03/2019 06/03/19 | Pending | -- | -- | -- |
| 05/21/2019 05/21/19 | For Sale | $1,342,000 | 0.0% | $213 / Sq Ft |
| 05/10/2019 05/10/19 | Pending | -- | -- | -- |
| 05/08/2019 05/08/19 | For Sale | $1,342,000 | -- | $213 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: IV25118584
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. 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
- 0 E Peck St
- 6 S Main St
- 208 E Peck St
- 17 W Sumner Ave
- 114 N Langstaff St
- 134 N Chestnut St
- 110 N Chestnut St
- 237 E Prospect St
- 107 N Poe St
- 0 N Ellis St
- 0 E Graham Ave Unit IV25187203
- 0 E Graham Ave Unit IV25144461
- 402 N Main St
- 250 E Prospect St
- 0 Ridge St
- 305 Line St
- 0 E Hill St Unit SW25035991
- 0 E Hill St Unit SW25032642
- 0 Mountain Mountain View and Main
- 108 S Lindsay St
- 249 E Graham Ave
- 249 E Graham Ave Unit D
- 150 E Lakeshore Dr Unit 65
- 1800 E Lakeshore Dr
- 2088 E Lakeshore Dr
- 41093 Hatton Garden Ct
- 41032 Crimson Pillar Ln
- 41207 Alegria Ln
- 41000 Marquise St
- 41042 Crimson Pillar Ln
- 39415 Ardenwood Way
- 17650 Grand Ave Unit 111
- 41023 Chambord Dr
- 8 Bella Minozza
- 29334 Linden Place
- 29305 Catalpa
- 29350 Sword Fern
- 17785 Grand Ave Unit B
- 17785 Grand Ave Unit A
- 17785 Grand Ave