Duplex Income
For Sale
$599,000
33053 Blackwell, Lake Elsinore, CA 92530
Lake Elsinore, CA
Property Size1,706 SF
Lot Size0.08 Acres
Price / SF$351.11
Days on Market176
Property Features for 33053 Blackwell
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Laundry Room, Bedroom 1, Bedroom 3, Bathroom 1
Parking
2
Lot features
Back Yard
Elementary school district
Lake Elsinore Unified
Middle school district
Lake Elsinore Unified
High school district
Lake Elsinore Unified
Directions
grand Ave to Blackwell Blvd
Subdivision
SRCAR - Southwest Riverside County
Standard status
Active
APN
381246005
Size
1,706 SF
Lot size
0.08 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1976
Floors in Building
1
Number of units
2
Listing Agency:
Realty ONE Group West
(951) 216-2000
Listed By:
Robert Grim · License #01937672
(951) 447-6440
Added: Feb 27
Changed: Aug 22
Last Checked: Aug 22 at 4:06AM
MLS# SW26044100
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.
Investment Insights
Based on property information with market context.
This duplex income property offers two residential units under one roof, suited for buyers looking for a small multifamily setup. The property is listed for sale with a total building size of 1,706 square feet.
The address is 33053 Blackwell in Lake Elsinore, CA 92530, within Riverside County.
As a residential income asset, the duplex configuration provides two separate units for rental use.
The address is 33053 Blackwell in Lake Elsinore, CA 92530, within Riverside County.
As a residential income asset, the duplex configuration provides two separate units for rental use.
Key Highlights
- Year built: 1976
- Heating: central
- Cooling: window unit(s) and wall/window unit(s)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,974
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$599,480
$599.5K
Cap Rate 7%
$428,200
$428.2K
Cap Rate 9%
$333,044
$333.0K
Market Conditions
NOI Build-Up for 1,706 SF
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.
Gross rent
$43.6K $25.56/SF
− Vacancy
−$785 −$0.46/SF
EGI
$42.8K $25.10/SF
− OpEx
−$12.8K −$7.53/SF
NOI
$30.0K $17.57/SF
Area
Riverside County, CA
Vacancy
1.80%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$599,480
Cap Rate 7%
$428,200
Cap Rate 9%
$333,044
Alternative Uses
Best Use
Multifamily LT 5
$428.2K
$374.7K – $499.6K
NOI $29,974 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$394.5K
$345.2K – $460.2K
NOI $27,614 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$511.1K
$447.2K – $596.3K
NOI $35,776 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
160
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex for sale in Lake Elsinore with residential income configuration.
Where is this duplex located?
The property is located at 33053 Blackwell Lake Elsinore, CA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Year built: 1976; Heating: central; Cooling: window unit(s) and wall/window unit(s)
