120 W Heald, Lake Elsinore, CA — listing photo 1
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FOR SALE

120 W Heald

Lake Elsinore, CA 92530
18,730 Lot Sq Ft
Built 1923
$2,040,000
Price ReducedWas $2,200,000 — $2,040,000 (-$160,000)

Property Overview

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.

Home Details

Property type
Residential Income - Apartment
Year built
1923
Lot size
18,730 sq ft
Stories
1
Days on market
117
MLS status
Active

Features & Amenities

Parking

  • On Street

Pool

  • None

Lot

  • Eleven To Fifteen Units Acre

Community, Schools & Utilities

Utilities

Water
Public
Sewer
PublicSewer
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Location & Neighborhood

120 W Heald

Lake Elsinore, CA 92530

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Frequently Asked Questions About 120 W Heald

Property type: Residential Income

The current asking price is $2,040,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.
Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 120 W Heald. Our team will confirm availability and timing.
This property offers the living space reported in the listing. It was built in 1923. Review the listing details and disclosures, then independently verify material features before making a decision.
The property is in Lake Elsinore, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.
Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Lake Elsinore property.
The MLS currently reports the property as Active. It has been listed for 117 days. Status can change, so verify availability before relying on it.

What clients say

“Reza was the best agent we have ever worked with.”Russell & Susan McQueen

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Listing Agent

Name: SUSANA FRANCO
MLS ID: IFRANSUS

Available property

$2,040,000

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Data provided by California Regional Multiple Listing Service, Inc. ("CRMLS"). Information is for viewer's personal, non-commercial use. All data should be independently verified for accuracy.