120 W Heald Lake Elsinore, CA $ 2,200,000
120 W Heald
$ 2,200,000
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120 W Heald

Lake Elsinore, CA, 92530
$ 2,200,000
Baths1.0 Sq 7,800

Monthly Estimate*

$ 13,546

Listed by GOLDEN EAGLE PROPERTIES
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Studio

Multi-Family Home for sale in Lake Elsinore, CA

for $2,200,000 with 1 full bath. This 7,800 square foot home was built in 1923 on a lot size of 0.43.

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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Multi-Family Active

Price

$ 2,200,000

Bedrooms

Studio

Full Bath

1

Property Type

Multi-Family

Taxes

$ 0

Style

Lot Size

0.43

Year Built

1923

Town/City

Lake Elsinore

County/Region

Riverside

MLS | Web ID

IV26024597

Days on Market

2

Features
General
Sewer Public Sewer
Roof Shingle
HOA Fee 0
Garage Spaces 0
Pool Features None
Year Built 1923
Tenant Pays Electricity Gas
Stories Count 1
Levels One
Property Subtype Apartment
Gross Income 201600
Community Features Sidewalks
Additional Parcels Description 374-173-003
County Riverside
Net Operating Income 137077
Operating Expense 64523
Insurance Expense 0
New Construction false
Property Type Residential Income
HOA false
Contingency None
Garage Y/N false
Special Listing Conditions Standard
Status Active
Directions Main St./Heald Ave
City Lake Elsinore
Entry Location Main Entrance
Senior Community Y/N false
Number Of Units Total 14
MLS Area SRCAR - Southwest Riverside County
Lot Size Units Square Feet
Lot Size Square Feet 18730
Listing Terms Conventional 1031 Exchange
Property Attached Y/N true
Land Lease Y/N false
Electric Expense 0
Current Financing Conventional
Fuel Expense 0
Trash Expense 0
Water Sewer Expense 0
Additional Parcels Y/N true
Rent Control Y/N false
Building Area Units Square Feet
Standard Status Active
Year Built Source Assessor
Tax Lot 8
Property Sub Type Additional Apartment
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Interior
Fireplace Features None
Total Stories 1
Common Walls 1 Common Wall
Fireplace Y/N false
Laundry Features None
Entry Level 1
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Exterior
Fencing Wrought Iron
Parking Features On Street
Lot Features 11-15 Units/Acre
Water Source Public
Total Parking 0
Lot Size Area 18730
Number of Buildings 8
Building Area Total 7800
Lot Size Acres 0.43
Private Pool false
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 14
Number of Separate Electric Meters 14
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* Excluded Features
List By
Golden Eagle Properties

Broker

susana.franco27@gmail.com

Email

Affordability Calculator

$13,546
Per Month
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Monthly Principal & Interest
$13,546
Monthly Property Taxes
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Monthly Home Insurance
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Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4827338 Elementary School
4827337 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
2/3/2026$2,200,000 Listed Price

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120 W Heald, Lake Elsinore, CA, 92530 is a Multi-Family Home for sale at $2,200,000 with 7,800 sqft and a lot size of 0.43. 120 W Heald is a studio with 1.0 baths and was built in 1923. The property's zip code is 92530 which is in Lake Elsinore, CA