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    Mountain St Lake Elsinore, CA 92530

    Sponsored
    For Sale
    $338,000

    Prime Lake Elsinore development opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.82-acre parcel, located on Mountain Street in Lake Elsinore, California (zip code 92530), presents a remarkable residential development opportunity. Zoned R1, the property boasts approved plans for the construction of up to three homes, making it ideal for builders or investors seeking to capitalize on the area's strong housing market. Existing homes in the immediate vicinity are valued at $600,000 and above, indicating significant potential for return on investment. The land's convenient location offers easy access to major transportation arteries, with less than a 5-minute drive to the I-15 freeway and under 7 minutes to Ortega Highway 74, providing seamless commutes to Orange County. Furthermore, a planned 32,000 square foot commercial development, including retail spaces, restaurants, and a fuel station, is underway on an adjacent 6-acre lot, promising increased neighborhood vibrancy and potential property value appreciation. This property is situated in a desirable residential area of Riverside County and represents a rare chance to build in a thriving, fast-growing community. The asking price for this exceptional land is $338,000.

    Property Features for 0 Mountain St

    General Information

    Property type
    Land
    Lot Size
    35,719 SF

    HighLights

    • 0.82‑acre lot zoned R1 in Lake Elsinore, CA (92530) with approved plans for up to three homes.
    • Approved plans for three homes, ideal for builders or investors.
    • Nearby homes valued at $600,000+, suggesting high ROI potential.
    • Less than 5 minutes to I‑15 and under 7 minutes to Ortega Hwy 74.
    • Adjacent 6‑acre lot under development with a planned 32,000 sq ft commercial center.
    • Asking price: $338,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Lake Elsinore
    County
    Riverside
    State
    California
    Longitude
    -117.3936378
    Latitude
    33.6985576

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    FAQs

    What type of property is this?
    Land - Prime Lake Elsinore development opportunity.
    Where is this land located?
    The property is located at Mountain St Lake Elsinore, CA.
    What is the asking price?
    The asking price for this property is $338,000.
    What are key features of this property?
    This property features: 0.82-acre lot zoned R1 in Lake Elsinore, CA (92530) with approved plans for up to three homes.; Approved plans for three homes, ideal for builders or investors.; Nearby homes valued at $600,000+, suggesting high ROI potential.
    (760) 533-5343
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    Mountain St Lake Elsinore, CA 92530
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Mountain St Lake Elsinore, CA 92530
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