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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$689,000

Est. payment - /mo

0.26 Acres Lot

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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID SW26070373

HOA Y/N No

Year Built 1941

Lot Size 0.260 Acres

Property Sub-Type Quadruplex

Property Description

Exceptional value-add investment opportunity located at 32989 Macy St in the growing city of Lake Elsinore. Previously designated as a commercial-zoned and utilized as a church, this property has been rezoned by the city to High Density R-3 Residential, creating a rare and highly desirable opportunity to meet the area's increasing housing demand. This zoning shift significantly enhances the property's development potential, making it ideal for developers, investors, and builders seeking to maximize returns. The existing structure spans approximately 4,200 square feet and offers a strong foundation for redevelopment into a multi-unit income-producing asset, with potential for a 4-plex configuration and additional ADU possibilities (buyer to verify with city). With limited inventory and continued population growth in the region, this property is well-positioned for long-term appreciation and rental income potential. The property enjoys scenic lake and mountain views and is located just minutes from Lake Elsinore, Southern California's largest natural freshwater lake, known for boating, fishing, and year-round outdoor recreation. Its strategic location near Ortega Highway provides convenient commuter access to Orange County, making it especially attractive for tenants traveling to coastal employment hubs. Additionally, the property is just a short drive from the Interstate 15 Fwy, offering seamless connectivity to Corona, Temecula, Riverside, and San Diego. Residents will appreciate close proximity to popular local attractions such as Lake Elsinore Launch Pointe, Lake Elsinore Beachfront Park, Lake Elsinore Casino, and Storm Stadium, along with convenient access to nearby Costco, Home Depot, Target, Super Wal-Mart, Lowe's Shopping centers, dining, and everyday amenities. With its prime location, flexible high-density zoning, scenic views, and strong redevelopment potential, this property represents a rare opportunity to invest in one of Southern California's rapidly expanding rental markets.

Location

State CA

County Riverside

Area Srcar - Southwest Riverside County

Interior

Heating Central

Cooling Central Air

Fireplaces Type None

Fireplace No

Laundry None

Exterior

Parking Features Unpaved

Pool None

Community Features Street Lights

Private Pool No

Building

Lot Description Level

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 379060015

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

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Listed by Josephine Sharma LEGACY HOMES REALTY 951-314-4204, DRE #01507253

NEARBY SCHOOL & BUSINESS

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32989 Macy Lake Elsinore, CA 92530