Address
32986 Blackwell Lake Elsinore, CA
Price
$ 2,250,000
Property Attributes
- MLS#CV20071584
- TypeIncome
- CountyRIVERSIDE
- CityLake Elsinore
- Zip92530
- Style
- Price$ 2,250,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage9700
- Lot Size0.62 Acres
Listing Provided Courtesy Of:
SEAN HWANGBO with REALTY ONE GROUP WEST.
Property Description
We are pleased to exclusively present Grand Blackwell Apartments, a 22-unit, single-story apartment community located in the City of Lake Elsinore, California. Walking distance of less than a block to Perret Park & the Lake, the buildings are situated on combined lot area of .62 acres and is comprised of twenty-one, studio/one-bathroom units and a large one, three-bedroom/two-bathroom unit plus an office. In recent years, the property has undergone renovation work on the interior, exterior, and common areas including but not limited to: block wall & vinyl fencing, tile flooring in all units, updated kitchens & bathrooms, paint throughout the property, A/C, and new water heaters. The astute investor has the ability own a well located, value-add opportunity that presents the potential to significantly increase cashflow within a relatively short period of time. The investment appeal of this asset is driven by the property’s current value-add component through hands-on management and leveling rents to market. Investment Highlights: *Single Story Construction for All Units *Walking Distance to Perret Park & Lake Elsinore *7.61% Cash-on-Cash Return on Actual Numbers *On-Site Laundry (Machines Owned) & Storage Units for Additional Income *Tile Flooring in all Units with Updated Kitchens & Restrooms *Individually Metered for Electricity *Improvements Include: New A/C, Water Heaters, Block Wall & Vinyl Fencing, and Paint throughout the Property
| Price History | |
|---|---|
| 4/10/2020 | Listed $2,250,000 |
General Features
| Attached Structure | Attached |
|---|---|
| Community Features | Curbs, Gutters, Lake, Park, Watersports, Sidewalks |
| Directions | Grand Ave & Blackwell Blvd |
| Garage Spaces | 0.00 |
| HOA Fee | 0.00 |
| Levels | One |
| Listagentaor | Citrus Valley |
| Listing Agent | SEAN HWANGBO - BRE#01945497 |
| Listing Agent State License | 01945497 |
| MLS Area | 699 - Not Defined |
| Pool Features | None |
| Price Per Square Foot | 231.96 |
| Property Attached Y/N | Yes |
| Sewer | Public Sewer |
| Source System | CRMLS |
| Special Listing Conditions | Standard |
| Total Units | 22 |
Interior Features
| 1st Bedroom Area Unit Type | Square Feet |
|---|---|
| 2nd Bedroom Area Unit Type | Square Feet |
| 3rd Bedroom Area Unit Type | Square Feet |
| Common Walls | 2+ Common Walls |
| Laundry Features | Common Area, Community |
| Laundry Y/N | Yes |
| Studio Area Unit Type | Square Feet |
| Total Stories | 1 |
Exterior Features
| Building Area Total | 9700.00 |
|---|---|
| Lot Features | 36-40 Units/Acre |
| Lot Size Acres | 0.6200 |
| Lot Size Area | 27008.0000 |
| Lot Size Source | Assessor |
| Lot Size Square Feet | 27008.00 |
| Lot Size Units | Square Feet |
| Number of Buildings | 2 |
| Number of Separate Electric Meters | 22 |
| Number of Separate Gas Meters | 3 |
| Number of Separate Water Meters | 2 |
| Total Parking | 0.00 |
| Water Source | Public |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Master On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Zip Code Average in 92530
Price
Visits
Year Built
Walkscore
Based on information from California Regional Multiple Listing Service, Inc. as of January 16, 2021 9:49 AM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Based on information from California Regional Multiple Listing Service, Inc. as of January 16, 2021 9:49 AM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
