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120 W Heald Avenue

Lake Elsinore, CA 92530

– beds
– baths
– sqft
~1/2 acre lot
1923 build
– on site

Investment Opportunity – 14-Unit Multifamily Property in LAKE ELSINORE! Rare opportunity to acquire a well-maintained 14-unit multifamily property featuring a strong unit mix: four studios (0 bed / 1 bath), six one-bedroom units (1 bed / 1 bath), and four two-bedroom units (2 bed / 1 bath). All units are unfurnished and currently tenant-occupied, with no garage parking. The property is separately metered for electricity and gas (14 meters each) with one shared water meter, offering efficient utility management. Situated on a generous 18,730 sq ft lot (APNs: 374-173-002 and 374-173-003), the property is ideally located close to the lake and within walking distance to downtown, restaurants, and local shops. This prime location enhances tenant appeal and supports long-term rental stability. With consistent occupancy and strong rental demand, this property offers significant upside potential through rent increases and is ideal for investors seeking income stability and long-term growth in a high-demand market.

Listed By CRMLS_CA / SUSANA FRANCO / GOLDEN EAGLE PROPERTIES / 951-591-2458

Last checked: Checking… • Last updated Jun 5, 2025 •

MLS# IV25118584 —

The Building

Year Built:

1923
Year Built Source:

Assessor
New Construction:

No
Building Area Total:

7800.00
Building Area Units:

Square Feet
Total Number Of Units:

14
# of Buildings:

8
Stories Total:

1
Entry Level:

1
Common Walls:

1 Common Wall
# of Separate Gas Meters:

14
# of Separate Water Meters:

1
# of Separate Electric Meters:

14

Interior

Levels:

One
Entry Location:

Main Entrance
Laundry:

None

Location

Directions:

Main St/Heald Ave
Latitude:

33.66975100
Longitude:

-117.32785800

The Property

Property Type:

Residential Income
Subtype:

Apartment
Zoning:

C1
Lot Features:

11-15 Units/Acre
Lot Size Area:

18730.0000
Lot Size Acres:

0.4300
Lot Size SqFt:

18730.00
Lot Size Source:

Assessor
Property Attached:

1
Additional Parcels:

Yes
Additional Parcels Description:

374173003
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Block:

21
Tax Census Tract:

430.06
Tax Lot:

8

The Listing

Special Listing Conditions:

Standard
Parcel Number:

374173002

Utilities

Sewer:

Public Sewer
Water Source:

Public

The Community

Features:

Sidewalks
Pool:

None
Senior Community:

No
Private Pool:

No

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
5/28/25 May 28, 2025	Listed / Active	CRMLS_CA	$2,250,000	87.5% (15.4% / YR)
9/28/19 Sep 28, 2019		CRMLS_CA	$1,200,000	-7.0%
8/8/19 Aug 8, 2019		CRMLS_CA	$1,290,000

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This multifamily located in Lake Elsinore Historic District, Lake Elsinore, CA 92530 is currently for sale for $2,250,000. 120 W Heald Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 21 days. 120 W Heald Avenue is in the Lake Elsinore Historic District neighborhood of Lake Elsinore and has a WalkScore® of 79, making it very walkable. This multifamily is in the attendance area of Elsinore Elementary School, Temescal Canyon High School, and Elsinore Middle School.

Listing Courtesy of: CRMLS_CA and GOLDEN EAGLE PROPERTIES. Based on information from California Regional Multiple Listing Service, Inc. as of 11:29 on Jun 18.

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.