Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

SingleFamilyResidence

Bedrooms

10

Building size

14,500 sqft

Lot size

26,136 sqft

Year built

1984

Stories

2

Garage spaces

18

Heating

Central

Pool

None

Status

Active

Days on market

0

MLS #

249264215

About this property

Exceptional 10-Unit Multifamily Investment Opportunity in Lake Elsinore, CA Discover an outstanding investment opportunity at **16459 Joy Street, Lake Elsinore, CA**. This 10-unit multifamily property offers an attractive combination of spacious townhome-style residences, desirable amenities, and significant value-add potential in Southern California's Inland Empire. The property features generously sized three-bedroom residences designed for comfortable and functional living. Each unit offers desirable amenities, including **central heating and air conditioning, private patios, and individual washer and dryer hookups**. Parking accommodations vary by floor plan, with residences featuring **either a private two-car garage with an automatic garage door opener or a one-car garage accompanied by a dedicated carport space**. These features enhance the property's rental appeal and distinguish it from traditional multifamily housing options. Conveniently situated near Lake Elsinore's scenic waterfront, the property provides access to outdoor recreation, shopping, dining, and everyday conveniences. Machado Elementary School is within walking distance, while Lakeside High School is also nearby. The Riverside Drive commercial corridor offers convenient access to local retailers, restaurants, and grocery stores. Additionally, proximity to Interstate 15 provides connectivity to surrounding Inland Empire communities and regional employment centers. **From an investment perspective, the property currently maintains 90% occupancy, with nine occupied units and one vacancy**, providing established rental income alongside an immediate opportunity for additional revenue through lease-up. Investors may also explore strategic renovations, interior upgrades, and rental optimization to further enhance the property's income potential and long-term value, subject to applicable regulations and market conditions. The property's desirable three-bedroom configurations, townhome-style layouts, private garages, and individual laundry accommodations provide a strong foundation for continued rental demand and long-term investment ownership. **An exceptional opportunity to acquire a 10-unit multifamily asset with existing rental income, immediate lease-up potential, and opportunities for future appreciation in Lake Elsinore. Contact us today for additional property information, financial details, or to schedule a private showing!**

Location

16459 Joy Street

Lake Elsinore, Riverside, CA, 92530