Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Ready-to-Build Lot in Lake Elsinore Title is generated by Realmo AI

    30527 Illinois Street, Lake Elsinore, CA 92530

    View on Map
    Claim this Listing
    For Sale
    $148,000

    Land/Lot - Lake Elsinore, CA

    Lot size:
    8,276.00 Acres
    Added:
    Jun 27, 2025
    Days on Market:
    317
    Last Refresh:
    May 9 at 7:06 pm

    Property Features for 30527 Illinois Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R3
    Exterior features
    Community Features Included: Biking, Lake, Mountainous
    Standard status
    Active
    APN
    375041048
    Lot size
    8,276.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Eddie Norzagaray

    Listing agent Eddie Norzagaray License #01431772

    Listing office T.N.G. Real Estate Consultants 2830 Brea Blvd., Brea, CA

    Listing date Jun 27, 2025

    MLS# PW25144008 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.

    HighLights

    • Permit‑Ready Plans Included: Save time and money with submitted plans for a 3‑bedroom, 2‑bathroom home.
    • All Architectural & Engineering Fees Paid: Eliminate upfront design and engineering costs.
    • Shovel‑Ready Project: Jump into a nearly construction‑ready project.
    • Sought‑After Country Club Heights Neighborhood: Benefit from an established community.
    • Complete Plans & Reports: Includes architectural, structural, grading plans, truss calculations, Title 24, and soils report.
    • Community Features: Access biking trails, a lake, and mountainous surroundings.

    Overview

    Located in the Country Club Heights neighborhood, this lot offers a ready-to-build opportunity. It comes with fully completed and submitted plans for a 1,439 sq ft single-story home featuring 3 bedrooms and 2 bathrooms. Architectural, structural, and grading plans, along with truss calculations, Title 24 compliance, and a full soils report, have been finalized and are in the final stages of city review. The project will be delivered with full plan approval, making it permit-ready. This saves the buyer time and design and engineering costs, as all architectural and engineering fees have already been paid. This 0.189-acre lot presents a chance to start a nearly shovel-ready project in an established community. It is suitable for builders or those looking to create a custom home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Elsinore
    County
    Riverside
    State
    California
    Longitude
    -117.361795
    Latitude
    33.687132

    Nearby Similar for Sale

    • $845,000
      1,560 SF

      Upgraded Commercial Property For Sale

      Extensively upgraded commercial property in a high-visibility Lake Elsinore location.
      30830 Riverside, Lake Elsinore, CA 92530
      View Details
    • $950,000
      5,500 SF

      Lake Elsinore Industrial Building For Sale

      5,500 sqft industrial building in rapidly growing Lake Elsinore.
      560 Birch, Lake Elsinore, CA 92530
      View Details
    • $500,000
      2,632 SF

      Lake Elsinore Retail Opportunity

      Standalone retail building with established convenience store and active license.
      1006 W Graham Avenue, Lake Elsinore, CA 92530
      View Details
    • $525,000
      1,325 SF

      Hilltop Retreat with Lake Views

      Private home with lake views, workshop, and ample parking.
      18515 Penny Trail, Lake Elsinore, CA 92530
      View Details
    • $535,000
      1,715 SF

      Lake Elsinore Office Suite

      Spacious office suite in Lake Elsinore's Canyon Estates.
      31569 Canyon Estates Drive, Lake Elsinore, CA 92532
      View Details
    • $4,000,000
      14,500 SF

      Lake Elsinore Multifamily Investment

      10-unit property near Lake Elsinore's waterfront.
      16459 Joy Street, Lake Elsinore, CA 92530
      View Details
    • $300,000

      Lake Elsinore Land with Views

      9.9 acre lot with lake and valley views.
      29 Lakeview, Lake Elsinore, CA 92530
      View Details
    • $845,000
      1,560 SF

      Upgraded Commercial Property in Lake Elsinore

      Extensively upgraded commercial property in a high-visibility Lake Elsinore location.
      30830 Riverside, Lake Elsinore, CA 92530
      View Details
    • $750,000
      2,742 SF

      Upgraded Duplex in Lake Elsinore

      Income-producing duplex near downtown, with remodeled and new construction units.
      138 E Peck, Lake Elsinore, CA 92530
      View Details
    • $500,000

      Lake Elsinore Land with Views

      19.8 acres with lake and valley views.
      2930 Lakeview, Lake Elsinore, CA 92530
      View Details
    • $740,000
      3,200 SF

      Lake Elsinore Retail Opportunity

      Commercial property with open interior in historic Lake Elsinore.
      119 W Peck, Lake Elsinore, CA 92530
      View Details
    • $174,000

      Lake Elsinore View Lot

      View lot in El Cariso Village near Lake Elsinore.
      13720 Monte Vista, Lake Elsinore, CA 92530
      View Details

    FAQs

    What type of property is this?
    Land - Permit-ready lot with completed plans for a 3-bedroom home.
    Where is this land located?
    The property is located at 30527 Illinois Street Lake Elsinore, CA.
    What is the asking price?
    The asking price for this property is $148,000.
    What are key features of this property?
    This property features: Permit‑Ready Plans Included: Save time and money with submitted plans for a 3‑bedroom, 2‑bathroom home.; All Architectural & Engineering Fees Paid: Eliminate upfront design and engineering costs.; Shovel‑Ready Project: Jump into a nearly construction‑ready project.
    (562) 665-5827
    We can help!
    Listing Contact
    Eddie Norzagaray
    Real Estate License ID: 01431772
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    30527 Illinois Street, Lake Elsinore, CA 92530
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!