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$ 575,000
Est. payment | /mo
3 Beds
3 Baths
0.4 Acres Lot
$ 575,000
Est. payment | /mo
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
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "