858-525-5007

120 Heald, Lake Elsinore CA 92530 | $2,200,000

  • 0 bedrooms
  • 0 bathrooms
  • 0 Sq Ft
  • 18730 Lot Sq Ft
  • Type: Apartment
  • Stories: 1
  • Year Built: 1923
  • MLS#: IV26024597
  • Community: SRCAR - Southwest Riverside County

Listing provided courtesy of SUSANA FRANCO of GOLDEN EAGLE PROPERTIES. Last updated 2026-02-19 09:10:59.000000. Listing information © 2025 SANDICOR.

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.

More Details

0.43 Acres
1 Story

David Piper​

Call or Text: 858-525-5007

DRE# 02021985