Two-Home Multifamily
For Sale
$649,900
32665 Mesa Drive, Lake Elsinore, CA 92530
Residential Income, Lake Elsinore, CA
Property Size2,200 SF
Lot Size0.30 Acres
Price / SF$295.41
Days on Market32
Property Features for 32665 Mesa Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 4, Bathroom 1
Parking
8
Parking features
On Street, RV, Oversize, Assigned, Driveway
Interior features
All Bedrooms Down
Fencing
Chain Link
Lot features
Near Public Transit, Near Public Transit
View
Hills, City, Lake
Elementary school district
Lake Elsinore Unified
Middle school district
Lake Elsinore Unified
High school district
Lake Elsinore Unified
Subdivision
SEDC - Sedco
Standard status
Active
APN
365121025
Size
2,200 SF
Lot size
0.30 Acres
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
lake views
laundry
RV/Toy parking
Building Details
Year built
1978
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Stucco
Architectural style
Ranch
Additional Structures
Guest House
Buildings
2
Listing Agency:
Keller Williams Luxury Homes · Keller Williams Realty
(760) 322-2286
Listed By:
Geoff McIntosh & Associates
(760) 933-3377
Added: Oct 6
Changed: Oct 27
Last Checked: Nov 6 at 12:06PM
MLS# 219153863
Copyright © 2026 California Desert Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The 0.3-acre parcel contains two detached residences with a combined 2,200 square feet. The primary ranch-style home is single-level, with three bedrooms, two bathrooms, laundry, and an attached two-car garage with direct entry. A separate cottage provides a second residence and has its own laundry. Chain-link fencing divides portions of the outdoor area, and the parking accommodates RVs and other oversized vehicles.
Both homes have lake views. The property is in Lake Elsinore, less than five minutes from the freeway, with the stadium and downtown also nearby. The separate buildings and laundry facilities support distinct living arrangements on one parcel.
Both homes have lake views. The property is in Lake Elsinore, less than five minutes from the freeway, with the stadium and downtown also nearby. The separate buildings and laundry facilities support distinct living arrangements on one parcel.
Key Highlights
- Two detached homes on a 0.3‑acre parcel
- Combined building area of 2,200 square feet
- Primary residence has 3 bedrooms, 2 bathrooms, and an attached two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,610
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$712,200
$712.2K
Cap Rate 7%
$508,714
$508.7K
Cap Rate 9%
$395,667
$395.7K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$66.0K $30.00/SF
− Vacancy
−$1.3K −$0.57/SF
EGI
$64.7K $29.43/SF
− OpEx
−$29.1K −$13.24/SF
NOI
$35.6K $16.19/SF
Area
Riverside County, CA
Vacancy
1.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$712,200
Cap Rate 7%
$508,714
Cap Rate 9%
$395,667
Alternative Uses
Best Use
Apartment 5plus
$508.7K
$445.1K – $593.5K
NOI $35,610 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$659.1K
$576.7K – $768.9K
NOI $46,136 @ 7.0% cap · market cap 7.10%
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
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
Explore this area
Business Placement
Demographics for 92530, CA
59,098
Population
18,502
Households
3.2
Avg Household Size
34
Median Age
17%
College-Educated
80%
High-School Grad
77.1 sq mi
ZIP Area
767
Density / Sq Mi
$84,799
Median Household Income
$41,138
Median Earnings
$1,705
Median Rent
$467,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in Riverside County, CA
Properties on Market for Multifamily properties in Riverside County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - A detached cottage, separate laundry facilities, and divided outdoor areas distinguish the two residences.
Where is this multifamily property located?
The property is located at 32665 Mesa Drive Lake Elsinore, CA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two detached homes on a 0.3‑acre parcel; Combined building area of 2,200 square feet; Primary residence has 3 bedrooms, 2 bathrooms, and an attached two‑car garage
