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    237 E Prospect St Lake Elsinore, CA 92530

    View on Map
    Sponsored
    For Sale
    $799,000

    Duplex - Lake Elsinore, CA

    Type:Duplex
    Property size:
    2,369 SF
    Lot size:
    7,405.00 Acres
    Days on Market:
    103
    Last Refresh:
    Mar 7 at 10:06 am

    Property Features for 237 E Prospect St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Property condition
    New Construction
    Standard status
    Active
    Zoning
    R3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen, Laundry, Living Room, Utility Room
    Bedrooms
    6
    Bathrooms
    3
    APN
    373151003
    Parking
    2
    Parking features
    Garage, Gated, RV
    Interior features
    Beamed Ceilings, Crown Molding, Corian Counters, High Ceilings, Ceiling Fan(s), Cathedral Ceiling(s), See Remarks, Carbon Monoxide Detector(s), Window Features: Energy Star Qualified Windows
    Exterior features
    Fence, Community Features Included: Lake, Street Lights, Sidewalks, Sprinklers In Front, Corner Lot, Sprinklers On Side, Sprinklers Timer
    Fencing
    Fenced
    Appliances
    Microwave, Range
    Size
    2,369 SF
    Lot size
    7,405.00 Acres

    Utilities

    Heating system
    Central, Electric (Heating), Forced Air
    Cooling system
    Central Air, Electric, ENERGY STAR Qualified Equipment

    Building Details

    Year built
    2026
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Laminate
    Building materials
    Stucco
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Raul Lozano

    Stratton LFCA - INC. (562) 860-2625

    Listing agent Raul Lozano (909) 983-9933 License #01381705

    Listing date Nov 25, 2025

    MLS# TR25266132 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

    Turnkey Duplex in Lake Elsinore

    This new duplex offers a total of 2,369 square feet. It is designed for rental income or multi-generational living. The primary residence features a 4-bed, 2-bath floor plan with 1,519 square feet, an open-concept layout, and designer finishes. The private Accessory Dwelling Unit (ADU) is a fully independent 2-bed, 1-bath unit with 850 square feet, suitable for short-term rentals or long-term tenants. The oversized 2-car garage is extra-wide and prepped for potential conversion into a Junior ADU. The property is connected to sewer and has ample off-street parking. It provides access to the 15 Freeway and is located minutes from the lake for fishing and recreation. The property is complete and move-in ready. It is located in Lake Elsinore, CA, in Riverside County. The lot size is approximately 0.17 acres. The zoning is R3.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Elsinore
    County
    Riverside
    State
    California
    Longitude
    -117.325846
    Latitude
    33.666343

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    FAQs

    What type of property is this?
    Duplex - New duplex ideal for rental income or multi-generational living.
    Where is this duplex located?
    The property is located at 237 E Prospect St Lake Elsinore, CA.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: - Turnkey duplex: Brand-new construction, ready for immediate occupancy and rental income generation.; - Dual Income Potential: Features a 4-bed/2-bath primary residence and a separate 2-bed/1-bath ADU, ideal for rental income or multi-generational living.; - Potential for Third Income Stream: Oversized 2-car garage prepped for conversion into a Junior ADU (buyer to verify).
    (909) 319-2293
    Request Owner's contact information
    237 E Prospect 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
    237 E Prospect St Lake Elsinore, CA 92530
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    We can help!
    Listing Contact
    Raul Lozano
    Real Estate License ID: 01381705
    (909) 319-2293 (909) 983-9933
    Learn more
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