1510 Mountain St Lake Elsinore, CA 92530
Exceptional residential development opportunity in Lake Elsinore, CA, awaits. This 0.96-acre parcel, located at 1510 Mountain Street (APN 389-030-006), is zoned R1 and offers approved plans for the construction of four homes. Situated in a desirable residential area with existing homes valued at $600,000+, this property presents a unique chance to capitalize on the burgeoning market. Utilities are conveniently located nearby on Mountain Street. Enjoy easy access to major transportation arteries, with the I-15 Freeway less than 5 minutes away and Ortega Highway 74 (providing access to Orange County) under 7 minutes. Further enhancing the area's appeal is a planned commercial development, currently undergoing final entitlement, on approximately 6 acres to the south. This project will include a 32,000 square foot retail center featuring a fuel station, in-line retail buildings, a quick-serve restaurant, and a drive-thru restaurant. The asking price for this exceptional property is $448,000. Don't miss this chance to build your dream home or develop multiple homes in a rapidly growing community.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.