Multi-Family Compound with
31507 Walsh Lane Menifee, CA 92584
31507 Walsh Lane, Menifee, CA, 92584
$1,000,000
Pending
For Sale
$1,000,000
Pending
Residential compound featuring two manufactured homes, two apartment units, and a 30x60 shop with additional living space.
Property Size4,176 SF
Lot Size4.66 Acres
Days on Market14
Property Features for 31507 Walsh Lane
General Information
- Standard status
- Pending
- Size
- 4,176 SF
- Lot size
- 4.66 Acres
- Property subtype
- Manufactured In Park
Building Details
- Year Built
- 2010
Listing agency
eXp Realty of California, Inc.
(866) 733-4623
Listed by
Renee Keeling · License #01498147
(866) 733-4623
Source
Compass
Added: Jul 8 Updated: Jul 21 at 4:37PM Checked: Jul 21 at 4:37PM
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 eXp Realty of California, Inc.
Investment Insights
Based on property information with market context.
Located at 31507 Walsh Lane in Menifee, CA, this income-producing multi-family compound sits on 4.66 flat, usable acres and includes two manufactured homes plus two additional apartment units. The main homes total 7 bedrooms and 5 bathrooms, creating multiple separate living arrangements within the property.
The compound is also supported by on-site utilities including owned solar systems, a private well, and septic service. A 30x60 shop includes a 1-bedroom apartment, and a 22x30 garage has been converted to a studio apartment, adding further flexibility for housing, storage, or multi-use operations. The overall setup provides several distinct dwelling options while maintaining the benefits of a shared property footprint.
The compound is also supported by on-site utilities including owned solar systems, a private well, and septic service. A 30x60 shop includes a 1-bedroom apartment, and a 22x30 garage has been converted to a studio apartment, adding further flexibility for housing, storage, or multi-use operations. The overall setup provides several distinct dwelling options while maintaining the benefits of a shared property footprint.
Key Highlights
- Residential compound on 4.66 flat, usable acres with two manufactured homes plus two additional apartment units
- Total 7 bedrooms and 5 bathrooms across the two manufactured homes and additional apartment units
- Owned solar systems on both main homes
Local Financial Insights For Apartment 5plus
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 | $100.2k | $24.00 |
| − Vacancy | −$6.0k | −$1.44 |
| EGI | $94.2k | $22.56 |
| − OpEx | −$42.4k | −$10.15 |
| NOI | $51.8k | $12.41 |
4,176 SF · lease $24.00/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$740.2K
$647.7K – $863.6K
NOI $51,816 @ 7.0% cap · market cap 5.18%
Second Best
Flex RnD
$602.6K
$527.3K – $703.0K
NOI $42,182 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$1.06M
$926.1K – $1.23M
NOI $74,086 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Residential compound featuring two manufactured homes, two apartment units, and a 30x60 shop with additional living space.
Where is this apartment building located?
The property is located at 31507 Walsh Lane Menifee, CA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Residential compound on 4.66 flat, usable acres with two manufactured homes plus two additional apartment units; Total 7 bedrooms and 5 bathrooms across the two manufactured homes and additional apartment units; Owned solar systems on both main homes
