176 Olive St

Property Overview
Investor Special in Lake Elsinore! Rare opportunity to own a 3-unit multifamily property just one block from the town center, featuring lake views and situated on a large 17,000 sq. ft. lot. The property includes a 1BR/1BA unit, a studio, and a 2BR/1BA upper unit. When fully occupied, the property generates approximately $46000 + a year in rental income in current condition. 3 units are currently rented, one on a month-to-month basis and one with 4 months remaining on the lease. Hold to increase rental income or explore the development potential for more units or two separate building, ADU. Property is being sold as-is. Excellent location near downtown Lake Elsinore, schools, shopping, and easy freeway access. Great views of the Lake. Great opportunity for investors or developers looking to add value in a growing area!
Home Details
- Property type
- ResidentialIncome
- Year built
- 1924
- Lot size
- 17,424 sq ft
- Stories
- 2.0
- Days on market
- 110
- MLS status
- Active
- Zoning
- R3
Community, Schools & Utilities
Community
- Subdivision
- San Diego
Utilities
- Cooling
- None
Location & Neighborhood
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“Reza was the best agent we have ever worked with.”— Russell & Susan McQueen
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