33.64022 -117.345795

32986 Blackwell Lake Elsinore, CA 92530

267448017 33.64022 -117.345795 124 /listing/267448017-150289988/32986-blackwell-lake-elsinore-ca-92530 False 0 2250000.0 105 CV20071584 False
  • $2,250,000
  • 27,008 lot
  • Est payment $12078.49/mo

Property & Neighborhood Info

Courtesy Of SEAN HWANGBO, REALTY ONE GROUP WEST

Multi-Family in Lake Elsinore

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

Courtesy Of SEAN HWANGBO, REALTY ONE GROUP WEST
  1. 27,008 Lot

Main Features

  • Listing Status: Active
  • Year Built: 1960
  • Floors: 1
  • County: Riverside County
  • Units: 22
  • MLS Number:CV20071584

Additional Features

  • Laundry:
    • Common Area
    • Community
  • Common Walls:
    • 2+ common walls
  • Levels:
    • One
  • Water Source:
    • Public
  • Year Built Source:
    • Estimated
  • Land Size Source:
    • Assessor
  • Lot Features:
    • 36-40 Units/Acre
  • Pool Features:
    • None
  • Parking Spaces:
    • 0.00
  • Sewer:
    • Public Sewer
  • Community Features:
    • Curbs
    • Gutters
    • Lake
    • Park
    • Sidewalks
    • Watersports
  • Number of Buildings:
    • 2
  • Gross Income:
    • 211788.00
  • Net Operating Income:
    • 138330.00
  • CDOM:
    • 112
  • Special Conditions:
    • Standard
  • Tenant Pays:
    • Electricity
  • DOM:
    • 112
  • Fuel Exp:
    • 1027.00
  • Insurance Expense:
    • 3777.00
  • Listing Key:
    • 364208700
  • Lot Size Acres:
    • 0.6200
  • Lot Size Square Feet:
    • 27008.00
  • Maintenance Exp:
    • 8931.00
  • Operating Expense:
    • 67253.00
  • Price Per SQFT:
    • 231.96
  • Total Expenses:
    • 67253.00
Neighborhood info courtesy of Homes.com © 2020

What's My Mortgage?

$38,769.95*
*Estimated monthly payment is a starting point to help assist you with your home search. To find out more about mortgage pre-qualification, click here.
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Chris Fry
Chris Fry
Broker/Owner
17873 Santiago Blvd. Suite #107 Villa Park CA 92861
33.64022 -117.345795

32986 Blackwell Lake Elsinore, CA 92530

267448017 33.64022 -117.345795 124 /listing/267448017-150289988/32986-blackwell-lake-elsinore-ca-92530 False 0 2250000.0 105 CV20071584 False
  • $2,250,000
  • 27,008 lot
  • Est payment $12078.49/mo