315 Lookout Street

    Lake Elsinore, CA 92530
    • $1,950,000
    • STATUS: Active Under Contract
    • ON SITE: 56 days
    • ID#: CV18254955
    Under Contract
    UPDATED: 62 min ago
    $1,950,000
    • 0
      BEDS
    • 1.05
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 12,200
      SQFT
    • $160
      $/SQFT
    Type:
    Multi-Family
    Built:
    1975
    County:

    School Ratings & Info

    Description

    DO NOT DISTURB TENANTS. DRIVE BY ONLY. CONTACT LISTING AGENT FOR MORE INFORMATION.We are pleased to exclusively present Rancho Laguna Apartments, a 20-unit, single-story apartment community located in the City of Lake Elsinore, California. The building is situated on 1.05 acres and is comprised of 16, one-bedroom/one bathroom and four, two-bedroom/one-bath units.In recent years, the property has undergone significant renovation work on the interior, exterior, and common areas including new roofs for all buildings, furnaces (all units), bathroom remodel (all units), patio rebuilds (all units), kitchen remodel (select units), laundry room upgrades, and exterior paint on all buildings.This opportunity presents an investor the ability to purchase a solid investment in a strong rental market. The astute investor will enjoy the security of having the property surrounded by single family homes, local shopping and restaurants, as well as having easy access to Interstate 15 and close proximity to the lake. With upside in rents, this offering is perfect for a long-term investor seeking a well-maintained property in a desirable market.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-15T17:28:43.673. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.teamforss.com/homes/88710656

    315 Lookout Street Lake Elsinore, CA 92530

    • Price: $1,950,000
    • Status: Active Under Contract
    • Updated: 62 min ago
    • ID#: CV18254955
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.05
    Acres
    12,200
    SQFT
    $160
    $/SQFT
    1975
    Built
    Neighborhood:
    239 - Lake Elsinore South
    County:
    Riverside
    Area:
    239 - Lake Elsinore South
    Property Description
    DO NOT DISTURB TENANTS. DRIVE BY ONLY. CONTACT LISTING AGENT FOR MORE INFORMATION.We are pleased to exclusively present Rancho Laguna Apartments, a 20-unit, single-story apartment community located in the City of Lake Elsinore, California. The building is situated on 1.05 acres and is comprised of 16, one-bedroom/one bathroom and four, two-bedroom/one-bath units.In recent years, the property has undergone significant renovation work on the interior, exterior, and common areas including new roofs for all buildings, furnaces (all units), bathroom remodel (all units), patio rebuilds (all units), kitchen remodel (select units), laundry room upgrades, and exterior paint on all buildings.This opportunity presents an investor the ability to purchase a solid investment in a strong rental market. The astute investor will enjoy the security of having the property surrounded by single family homes, local shopping and restaurants, as well as having easy access to Interstate 15 and close proximity to the lake. With upside in rents, this offering is perfect for a long-term investor seeking a well-maintained property in a desirable market.
    Exterior Features

    Fence YN Yes Fencing Wood Garage Spaces 0.00 Lot Features 16-20 Units/Acre Lot Size Source Assessor Lot Size Units Acres Parking Features Assigned Parking Total 20.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area 575 Average1 Bed Area Units Square Feet Average2 Bed Area 750 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common WallsNo One Above Laundry Features Community Levels One

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features SidewalksStreet Lighting Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 188748.00 Gross Scheduled Income 188400.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 120042.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 21 Number Of Separate Gas Meters 21 Number Of Separate Water Meters 2 Operating Expense 68706.00 Professional Management Expense 0.00 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 68706.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Sean Hwangbo of Realty One Group, Inc..


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-15T17:28:43.673. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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