120 W Heald, Lake Elsinore, CA 92530

Lake Elsinore
Local realty services provided by:Better Homes and Gardens Real Estate Everything Real Estate
120 W Heald,Lake Elsinore, CA 92530
$2,040,000
  • - Beds
  • - Baths
  • 7,800 sq. ft.
  • Multi-family
  • Active
Listed by: susana franco
Office: golden eagle properties800-763-7154
MLS#:IV26024597
Source:CRMLS

Price summary

  • Price:$2,040,000
  • Price per sq. ft.:$261.54

About this home

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.

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Home facts

  • Year built:1923
  • Listing ID #:IV26024597
  • Added:245 day(s) ago
  • Updated:October 06, 2026 at 11:19 AM

Rooms and interior

  • Living area:7,800 sq. ft.

Structure and exterior

  • Roof:Shingle
  • Year built:1923
  • Building area:7,800 sq. ft.
  • Lot area:0.43 Acres
  • Levels:1 Story

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$2,040,000
  • Price per sq. ft.:$261.54

Parking

  • Parking description:On Street
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