Upgraded Duplex in Lake
138 E Peck, Lake Elsinore, CA 92530
Traditional, Duplex - Lake Elsinore, CA
Type:Duplex
Property size:
2,742 SFLot size:
7,405.00 AcresPrice / SF:
$273/SF- Added:
- Jan 16, 2026
- Days on Market:
- 150
- Last Refresh:
- Jun 15 at 7:06 am
Property Features for 138 E Peck
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 5
- Rooms
- Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen, Laundry
- Parking features
- Driveway, Unassigned
- Window features
- Double Pane Windows
- Interior features
- Quartz Counters, Ceiling Fan(s), Carbon Monoxide Detector(s), Window Features: Double Pane Windows, Energy Star Qualified Windows
- Exterior features
- Fence, Community Features Included: Gutters, Curbs, Watersports, Horse Trails, Biking, Dog Park, Hiking, Fishing, Lake, Street Lights, Storm Drains, Sidewalks, Sprinklers In Front, Paved, 2-5 Units/Acre, Garden
- Fencing
- Fenced
- Basement Y/N
- 1
- Appliances
- Dishwasher, Washer
- Standard status
- Active Under Contract
- APN
- 373024024
- 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
Listing agent SONIA OROZCO (909) 949-0605
Listing office RE/MAX CHAMPIONS 121 S MOUNTAIN AVE, Upland, CA (909) 949-0605
Listing date Jan 16, 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.
HighLights
- Duplex with both units currently rented; option for tenant‑occupied or vacant delivery at close of escrow.
- Front unit: 3 bedrooms, 2.5 bathrooms, approx. 1,500 SF; completely remodeled and includes private laundry room.
- Rear unit: built in 2023, 3 bedrooms, 2 bathrooms, approx. 1,300 SF; includes private laundry room.
- Separate utilities: each unit has separate gas and electric meters, plus sub‑metered water.
- Energy Star qualified double‑pane windows, Central heating and Central A/C, plus ceiling fans.
- Basement included; stucco exterior and shingle roof; fenced yard and shared driveway.
Overview
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.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.1k | $25.56 |
| − Vacancy | −$1.3k | −$0.46 |
| EGI | $68.8k | $25.10 |
| − OpEx | −$20.6k | −$7.53 |
| NOI | $48.2k | $17.57 |
2,742 SF · lease $25.56/SF/yr · vacancy 1.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$688.2K
$602.2K – $803.0K
NOI $48,177 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$634.0K
$554.8K – $739.7K
NOI $44,383 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$821.5K
$718.8K – $958.4K
NOI $57,502 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Lake Elsinore
- County
- Riverside
- State
- California
- Longitude
- -117.3262672
- Latitude
- 33.6683573
Nearby Similar for Sale
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 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: Duplex with both units currently rented; option for tenant‑occupied or vacant delivery at close of escrow.; Front unit: 3 bedrooms, 2.5 bathrooms, approx. 1,500 SF; completely remodeled and includes private laundry room.; Rear unit: built in 2023, 3 bedrooms, 2 bathrooms, approx. 1,300 SF; includes private laundry room.
