24
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$689,000
Est. payment /mo
0.26 Acres Lot
Active
32989 Macy Lake Elsinore, CA 92530
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID SW26070373
HOA Y/N No
Year Built 1941
Lot Size 0.260 Acres
Property Sub-Type Quadruplex
Property Description
Exceptional value-add investment opportunity located at 32989 Macy St in the growing city of Lake Elsinore. Previously designated as a commercial-zoned and utilized as a church, this property has been rezoned by the city to High Density R-3 Residential, creating a rare and highly desirable opportunity to meet the area's increasing housing demand. This zoning shift significantly enhances the property's development potential, making it ideal for developers, investors, and builders seeking to maximize returns. The existing structure spans approximately 4,200 square feet and offers a strong foundation for redevelopment into a multi-unit income-producing asset, with potential for a 4-plex configuration and additional ADU possibilities (buyer to verify with city). With limited inventory and continued population growth in the region, this property is well-positioned for long-term appreciation and rental income potential. The property enjoys scenic lake and mountain views and is located just minutes from Lake Elsinore, Southern California's largest natural freshwater lake, known for boating, fishing, and year-round outdoor recreation. Its strategic location near Ortega Highway provides convenient commuter access to Orange County, making it especially attractive for tenants traveling to coastal employment hubs. Additionally, the property is just a short drive from the Interstate 15 Fwy, offering seamless connectivity to Corona, Temecula, Riverside, and San Diego. Residents will appreciate close proximity to popular local attractions such as Lake Elsinore Launch Pointe, Lake Elsinore Beachfront Park, Lake Elsinore Casino, and Storm Stadium, along with convenient access to nearby Costco, Home Depot, Target, Super Wal-Mart, Lowe's Shopping centers, dining, and everyday amenities. With its prime location, flexible high-density zoning, scenic views, and strong redevelopment potential, this property represents a rare opportunity to invest in one of Southern California's rapidly expanding rental markets.
Location
State CA
County Riverside
Area Srcar - Southwest Riverside County
Interior
Heating Central
Cooling Central Air
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Parking Features Unpaved
Pool None
Community Features Street Lights
Private Pool No
Building
Lot Description Level
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 379060015
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Josephine Sharma LEGACY HOMES REALTY 951-314-4204, DRE #01507253
NEARBY SCHOOL & BUSINESS
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