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    176 Olive St Lake Elsinore, CA 92530

    For Sale
    $575,000

    Three-unit property near town center with lake views.

    Lot size:
    0.40 Acres

    Property Features for 176 Olive St

    General Information

    Lot size
    0.40 Acres

    Building Details

    Year built
    1924

    Source: Colleen K. Cotter Agent Summer Rampersad

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Lake Elsinore Multifamily Investment

    Located in Lake Elsinore, 176 Olive Street presents an investment opportunity with a three-unit multifamily property situated one block from the town center. The property, positioned on a 17,000 sq. ft. lot, offers lake views. It comprises a one-bedroom, one-bathroom unit, a studio, and a vacant two-bedroom, one-bathroom upper unit. The property is located near downtown Lake Elsinore, schools, shopping, and offers easy freeway access. The property is being sold as-is. The property has potential for increased rental income or development into multiple units or two separate buildings; buyers should verify this potential with the city. Two units are currently rented, one on a month-to-month basis and one with 4 months remaining on the lease.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Elsinore
    County
    Riverside
    State
    California
    Longitude
    -117.3267349
    Latitude
    33.6658959

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    FAQs

    What type of property is this?
    Triplex - Three-unit property near town center with lake views.
    Where is this triplex located?
    The property is located at 176 Olive St Lake Elsinore, CA.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: - Multifamily property with existing rental income (potential $46,000 annually).; - Large 17,000 sq. ft. lot with development potential (buyer to verify).; - **Prime location: one block from town center with lake views.**
    (415) 654-9108
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    176 Olive St Lake Elsinore, CA 92530
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    Lake Elsinore, CA 92530
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    Realmo Value Estimation

    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.

    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.

    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
    176 Olive St Lake Elsinore, CA 92530
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