32986 Blackwell Lake Elsinore, CA
$ 2,250,000
Property Attributes
  • MLS#CV20071584
  • TypeIncome
  • CityLake Elsinore
  • Zip92530
  • Style
  • Price$ 2,250,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage9700
  • Lot Size0.62 Acres
Listing Provided Courtesy Of:
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


  • 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

AVG $1.03M
AVG 124
Year Built
AVG 1968
AVG 33
Data Provided by Walkscore ® not using MLS data

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