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$499,000
Est. payment /mo
4 Beds
2 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID IG25164027
Bedrooms 4
Property Sub-Type Res Income 2-4 Units
Property Description
Prime R3 Zoned Development Opportunity in Lake Elsinore Attention Investors and Developers! Seize this exceptional opportunity to acquire a substantial, Approx 18,000 sq ft R3-zoned lot in the thriving City of Lake Elsinore. This property offers immense potential for multi-unit development, with specific building guidelines available through the City of Lake Elsinore Planning Department. Currently, the property features a main residence generating rental income. Additionally, there are two existing outbuildings, presently utilized for storage, which hold future potential for permitted units or auxiliary structures. At this time the 2 units are not permitted for units, storage only For those envisioning significant development, this expansive parcel provides ample space to demolish the existing structures and construct multiple new units, complete with dedicated garage parking. This offering represents a rare chance to capitalize on a property with tremendous redevelopment potential in a desirable location.
Location
State CA
County Riverside
Zoning Assessor
Direction One block north of downtown Lake Elsinore
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Tax ID 374273006
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Listed by Carol Goode Grand Homes Real Estate