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32989 Macy Street
Lake Elsinore, CA 92530
Exceptional investment opportunity in Lake Elsinore! Priced at $699,000, this property includes plans that have already been submitted to the city for approval to convert the existing structure into a modern 4-plex, with each of the four units featuring three bedrooms and two bathrooms. The building offers a total of 4,194 sqft of living space, set on an 11,326 sqft lot in a prime R-3 High-Density Residential Zone, ideal for multi-family projects. This property boasts scenic views of Lake Elsinore and the Ortega Mountains, and is close to Lake Elsinore Beachfront Park, the casino, and Diamond Stadium. Based on local rental rates, monthly income projections per unit range from $2,200 to $3,000, creating a compelling revenue stream for both long-term and short-term rentals. All permits and plans are ready, with construction able to begin upon approval, making this an excellent prospect in a growing area. In addition to this property, two adjacent lots may be available for purchase at the right price, expanding the investment potential even further. Don't miss this rare opportunity—schedule a viewing today!
PROPERTY INFORMATION
| MLS # | SB24228360 | Lot Size | 11,326 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Quadruplex |
| Price | $ 699,000
Price Per SqFt: $ 166 |
DOM | 51 Days |
| Address | 32989 Macy Street | Type | Residential Income |
| City | Lake Elsinore | Sq.Ft. | 4,200 Sq. Ft. |
| Postal Code | 92530 | Garage | N/A |
| County | Riverside | Year Built | 1941 |
| Bed / Bath | 12 / 0 | Parking | 8 |
| Built In | 1941 | Status | Active |
INTERIOR FEATURES
| Has Laundry | No |
| Laundry Information | None |
| Has Heating | Yes |
| Heating Information | Central |
| Has Cooling | Yes |
| Cooling Information | Central Air |
| EntryLocation | Seperate for each unit |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $746
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 11/05/2024 | Listed | $699,000 |
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Listing provided courtesy of Eric Baskett, Circle Real Estate. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
