120 W Heald
Lake Elsinore, CA 92530
3
Bed
3
Bath
18,730Sqft(Lot)
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, maki
Property Details
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Map
What's Nearby
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Features
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Interior Features
Roof: ShingleLaundry Features: None
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Building Information
Year Built: 1923Building Area Total: 7800Stories: 1Pool Features: NonePrivate Pool: No
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Lot Information
Main Square Feet: 18730 Lot Size Acres: 0.43 Lot Size Source: Assessor Lot Size Square Feet: 18,730 Lot Description: ElevenToFifteenUnitsAcre
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Listing Price Information
Listing Price: $2050000Original Price: $2200000Conventional, Exchange1031
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Tax Information
Parcel Number: 374173002 Tax Lot: 8 Tax Block: 21
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Virtual Tour
Parking Information
OnStreet
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Location Information
Direction: Main St./Heald Ave WaterSource: Public
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 15209 Darnell Drive Lot.., Lake Elsinore, CA, 92530 | $577,977 | 3 | 2 | 1,569 | 1,569 SqFt |
| 32857 Valley View Avenue, Lake Elsinore, CA, 92530 | $343,000 | 2 | 2 | 800 | 800 SqFt |
| 32565 Wildomar Road, Lake Elsinore, CA, 92530 | $400,000 | 2 | 2 | 1,296 | 1,296 SqFt |
| 32512 Wildomar, Lake Elsinore, CA, 92530 | $464,900 | 3 | 2 | 1,438 | 1,438 SqFt |
| 32490 Crescent Avenue, Lake Elsinore, CA, 92530 | $465,000 | 4 | 2 | 1,560 | 1,560 SqFt |
| 29499 Slider, Lake Elsinore, CA, 92530 | $699,000 | 4 | 4 | 2,824 | 2,824 SqFt |
| 29480 Major League, Lake Elsinore, CA, 92530 | $559,880 | 3 | 2 | 1,868 | 1,868 SqFt |
| 321 Avenue 12, Lake Elsinore, CA, 92530 | $499,000 | 3 | 3 | 1,705 | 1,705 SqFt |
| 29303 Fenway Park, Lake Elsinore, CA, 92530 | $729,900 | 4 | 4 | 2,792 | 2,792 SqFt |
| 2006 E Lakeshore, Lake Elsinore, CA, 92530 | $697,000 | 3 | 2 | 950 | 950 SqFt |
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ByOwner last updated this listing 08/12/2026 @ 17:08
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