Properties
Lake Elsinore, CA 92530 120 W Heald
$2,100,000
11 more
Presented By: SUSANA FRANCO with GOLDEN EAGLE PROPERTIES; 951-591-2458
Baths • 1
SQFT • 7,800
Home Details
Rare opportunity to acquire a stabilized 14-unit multifamily asset in a prime Lake Elsinore location near the lake and within walking distance to downtown, dining, and shopping. The property features a desirable unit mix of four studios, six 1-bed/1-bath units, and four 2-bed/1-bath units, all currently tenant occupied and generating immediate income.
Utilities are efficiently structured with separate gas and electric meters for each unit (14 total) and one shared water meter, helping reduce owner expenses. Situated on a large 18,730 sq ft lot across two APNs (374-173-002 & 374-173-003). No garage parking.
Strong rental demand and consistent occupancy provide stable cash flow, with clear upside potential through rent increases. Recent capital improvements include a new roof, making this an excellent opportunity for investors seeking a value-add or long-term hold in a growing Inland Empire market with strong tenant appeal.
Presented By: SUSANA FRANCO with GOLDEN EAGLE PROPERTIES; 951-591-2458
Interior Features for 120 W Heald
Other Interior Features
Common Walls1 Common Wall
Fireplace FeaturesNone
Fireplace Y/NNo
Laundry FeaturesNone
Total Stories1
Other Rooms
Entry Level1
General for 120 W Heald
Additional Parcels Description374-173-003
Additional Parcels Y/NYes
Building Area UnitsSquare Feet
CityLake Elsinore
Community FeaturesSidewalks
ContingencyNone
CountyRiverside
Current FinancingConventional
DirectionsMain St./Heald Ave
Electric Expense
Entry LocationMain Entrance
Fuel Expense
Garage Spaces
Garage Y/NNo
Gross Income201600
HOANo
HOA Fee$
Insurance Expense
Land Lease Y/NNo
LevelsOne
Listing TermsConventional, 1031 Exchange
Lot Size Square Feet18730
Lot Size UnitsSquare Feet
MLS AreaSRCAR - Southwest Riverside County
Net Operating Income137077
New ConstructionNo
Number Of Units Total14
Operating Expense64523
Pool FeaturesNone
PostalCityLAKE ELSINORE
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidential Income
Rent Control Y/NNo
RoofShingle
Senior Community Y/NNo
SewerPublic Sewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories Count1
Tax Lot8
Tenant PaysElectricity, Gas
Trash Expense0
Water Sewer Expense0
Year Built1923
Year Built SourceAssessor
Exterior for 120 W Heald
Building Area Total7800
FencingWrought Iron
Lot Features11-15 Units/Acre
Lot Size Acres0.43
Lot Size Area18730
Lot Size SourceAssessor
Number of Buildings8
Number of Separate Electric Meters14
Number of Separate Gas Meters14
Number of Separate Water Meters1
Parking FeaturesOn Street
Private PoolNo
Total Parking0
Water SourcePublic
Additional Details
Price History
Schools
High School
Hubert H Humphrey Middle School
Middle School
N/A
Elementary School
Big Hollow Elementary School
