Building Details

Building Size 4,032 SF

Year Built 1987

Buildings 2

Stories 2

Units 2

Listing Agency: Coldwell Banker Realty

Listed By: Miguel Valeriano Martine · License #02098128 Show Phone

Source: Elliman

Added: Sep 21 Changed: Oct 25 Last Checked: Nov 4 at 1:04PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This multifamily property includes two residences on a single 1-acre lot in Menifee. The front residence is a custom single-family home, while a brand-new ADU completed in 2026 provides a second dwelling on the property.

The main house is equipped with 52 Tesla solar panels, and the associated solar credits transfer fully to the next owner. The flat lot is located at 27765 Ellis Ave, with bike and walk scores of 27 and 8, respectively, reflecting a car-dependent setting with limited bike access.

Key Highlights

• Two residences situated on one 1‑acre lot
• Brand‑new ADU completed in 2026
• Custom single‑family residence at the front of the property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,029

Cap Rate

5.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,000,580 $1.0M

Cap Rate 7%

$714,700 $714.7K

Cap Rate 9%

$555,878 $555.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,032 SF

Gross rent

$96.8K $24.00/SF

− Vacancy

−$5.8K −$1.44/SF

EGI

$91.0K $22.56/SF

− OpEx

−$40.9K −$10.15/SF

NOI

$50.0K $12.41/SF

Area

Menifee, CA

Vacancy

6.00%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,000,580

Cap Rate 7%

$714,700

Cap Rate 9%

$555,878

Alternative Uses

Best Use

Apartment 5plus

$714.7K

$625.4K – $833.8K (±1% cap)

NOI $50,029 @ 7.0% cap · market cap 5.01%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.02M

$894.1K – $1.19M (±1% cap)

NOI $71,531 @ 7.0% cap · market cap 7.16%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Multifamily properties

Suggested Use

Top Pick Auto Repair Shop HVAC Service Electrical Service Hair Salon Law Firm Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

23

Businesses Nearby

Explore this area Business Placement

Demographics for 92585, CA

24,887

Population

8,447

Households

2.9

Avg Household Size

36

Median Age

20%

College-Educated

85%

High-School Grad

17.1 sq mi

ZIP Area

1,455

Density / Sq Mi

$97,898

Median Household Income

$46,523

Median Earnings

$2,200

Median Rent

$499,800

Median Home Value

Market

Average Price Trend$/SF for Multifamily properties in Riverside County, CA

$173 Jul

$184 Aug

$234 Sep

$264 Oct

Properties on Market for Multifamily properties in Riverside County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - Two residences occupy one lot, including a custom main home and a newly built ADU.

Where is this multifamily property located?

The property is located at 27765 Ellis Ave Menifee, CA.

What is the asking price?

The asking price for this property is $998,500.

What are key features of this property?

This property features: Two residences situated on one 1‑acre lot; Brand‑new ADU completed in 2026; Custom single‑family residence at the front of the property