32767 Corydon Rd Lake Elsinore, CA 92530
- Residential income homes
- 900 SF
- 10.00 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 32767 Corydon Rd
- Lot size
- 10.00 lot acres
- Property size
- 900 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a portfolio of 71 brand-new, detached single-family rental homes in the desirable Lake Elsinore, CA market. Located at 32767 Corydon Rd, 92530, this Class A, value-add property boasts a substantial 70,219 square feet of net rentable space, spread across 10 acres. Each unit offers approximately 900-1,100 square feet of living space, featuring two bedrooms, two bathrooms, and a two-car garage. The homes are designed with sustainable energy efficiency in mind, utilizing graphene solar panel technology, resulting in significant energy savings for residents. The community caters to the 55+ demographic and includes attractive amenities such as a clubhouse, pool, spa, fire pits, gardens, and a dog park. With a current NOI of $1,566,481 and a 5.25% cap rate, this property offers a compelling return on investment. The property is zoned R-3 and features a total of 71 pads. This is a rare opportunity to acquire a newly constructed, high-quality rental portfolio in a growing market, offering significant potential for long-term appreciation and strong cash flow. The asking price is $29,854,888, with a price per unit of $420,491.38. This is a turnkey operation ready for immediate income generation. The property's location in Riverside County provides easy access to major transportation routes and local amenities.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lake Elsinore
- County
- Riverside
- State
- California
- Longitude
- -117.305
- Latitude
- 33.6186
