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    The Largest CRE Database in the US with Over 1 Million Listings

    138 E Peck St Lake Elsinore, CA 92530

    Sponsored
    For Sale
    $750,000

    Traditional, Duplex - Lake Elsinore, CA

    Type:Duplex
    Property size:
    2,742 SF
    Lot size:
    7,405.00 Acres
    Days on Market:
    8
    Last Refresh:
    Jan 22 at 4:06 am

    Property Features for 138 E Peck St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    Window features
    Double Pane Windows
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen, Laundry
    Bedrooms
    6
    Bathrooms
    5
    APN
    373024024
    Parking features
    Driveway, Unassigned
    Interior features
    Ceiling Fan(s), Quartz Counters, Carbon Monoxide Detector(s), Window Features: Double Pane Windows, Energy Star Qualified Windows
    Exterior features
    Fence, Community Features Included: Biking, Curbs, Dog Park, Fishing, Hiking, Gutters, Lake, Horse Trails, Watersports, Sidewalks, Storm Drains, Street Lights, 2-5 Units/Acre, Garden, Paved, Sprinklers In Front
    Fencing
    Fenced
    Basement Y/N
    1
    Appliances
    Dishwasher, Washer
    Size
    2,742 SF
    Lot size
    7,405.00 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air, Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1936
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Tile, Vinyl
    Building materials
    Stucco
    Roof type
    Shingle
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    SONIA OROZCO

    REMAX Champions (909) 949-0605 [email protected]

    Listing agent SONIA OROZCO (909) 949-0605 License #01315325

    Listing date Jan 15, 2026

    MLS# IV26011016 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Upgraded Duplex in Lake Elsinore

    This income-producing duplex is located in Lake Elsinore, within walking distance of downtown dining, shopping, and the lake. The property features a remodeled front unit with 3 bedrooms, 2.5 bathrooms, and approximately 1,500 square feet of living space. The rear unit, constructed in 2023, offers 3 bedrooms and 2 bathrooms with approximately 1,300 square feet of contemporary living. Both units are in excellent condition and include private laundry rooms, separate gas and electric meters, and sub-metered water meters. The property is situated on a lot of approximately 0.17 acres. The total property size is approximately 2,742 square feet. Both units are currently rented, with the option for tenant-occupied or vacant delivery at close of escrow. The property includes a shared driveway and well-maintained exteriors. The location enhances long-term rental demand. The front unit currently rents the shed in back for additional income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Elsinore
    County
    Riverside
    State
    California
    Longitude
    -117.3262672
    Latitude
    33.6683573

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    FAQs

    What type of property is this?
    Duplex - Income-producing duplex near downtown, with remodeled and new construction units.
    Where is this duplex located?
    The property is located at 138 E Peck St Lake Elsinore, CA.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: - Income-producing duplex with strong rental potential and flexible occupancy options.; - Prime downtown Lake Elsinore location, walkable to dining, shopping, and close to the lake.; - Front unit completely remodeled with **3 bedrooms, 2.5 bathrooms, and approximately 1,500 sq ft of updated living space.**
    (909) 949-0605
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    138 E Peck St Lake Elsinore, CA 92530
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    Lake Elsinore, CA 92530
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    138 E Peck St Lake Elsinore, CA 92530
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    We can help!
    Listing Contact
    SONIA OROZCO
    Real Estate License ID: 01315325
    (909) 949-0605
    Learn more
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