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For Sale

$1,000,000

17739 Grand Avenue
Lake Elsinore, CA 92530

Sqft 3,200 sqft
17739-17741 Grand Ave, Lake Elsinore, CA 92530 (Riverside County unincorporated). a 3,200 SF two-story mixed-use asset, featuring two a 800 SF retail units on the first floor and two a 800 SF 2 Bed-1 Bath apartments. The property's large a 0.20 AC lot allows for ample separate retail and residential parking, as well as a large shared backyard for its residents. This property represents a terrific value-add opportunity for a potential investor who can lease retail units while enjoying the immediate cash flow from the fully occupied residential units. The subject property benefits from it's close proximity (walking distance) to Lake Elsinore, a major tourist destination for Southern California offering boat launches, campgrounds, fishing and parks with swimming beaches as well as strong average household incomes ( a 70,000- a 87,000 within a 1-5 mile radius). The property sits in Lakeland Village, a small community in an unincorporated section of Riverside County and is located between the cities of Lake Elsinore and Wildomar. In recent years, the County of Riverside adopted ordinances to permit commercial cannabis activities within unincorporated areas of Riverside. Under the adopted regulations, 17739-17741 Grand Ave potentially qualifies for multiple uses, including retail, distribution, or cannabis micro-business. The property's potential cannabis uses make it perfect for investors looking for tenants that pay a premium on rent or an operator interested in opening a business in an area with long-term upside potential. Read More

Market Status
Available
Last Updated
October 18, 2021

Property Type
Commercial Property
Stories
2
MLS Area
Srcar - Southwest Riverside County

Local Market Conditions

There are currently 174 properties for sale in the Lake Elsinore, CA area with the average listing price of $604,425. This represents a decrease of -0.1% over the previous week. The 3 bedroom homes saw the largest decrease in the average listing price over the previous week with a -3.1% decrease. To learn more about the Lake Elsinore, CA area, contact a local expert!

Market Snapshot for Lake Elsinore, CA

Avg. Listing Price

$604,425

Wk ending Oct 16

$-392

-0.1%

w-o-w

174

812

36

20

10

10

Average Listing Price for Lake Elsinore, CA
No. BedroomsNo. Beds Week Ending
(Oct 16)
w-o-w Week Ending
(Oct 9)
Week Ending
(Oct 2)
Week Ending
(Sep 25)
All PropertiesAll $604,425 -0.1% $604,817 $596,570 $583,712
1 bedroom1 BR - +0.0% $299,900 $299,900 $312,450
2 bedrooms2 BR $346,558 +6.0% $326,850 $328,845 $316,209
3 bedrooms3 BR $550,430 -3.1% $568,208 $559,370 $552,668
4 bedrooms4 BR $608,232 +1.2% $600,780 $590,215 $588,551

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Listing Provided By:

Brad Alewine

COMPASS

Phone
This $1,000,000 Commercial Property at 17739 Grand Avenue in Lake Elsinore, CA is presented by Brad Alewine. This $1,000,000 Commercial Property, located in the 92530 zip code, has the following property features: MLS Area. This 17739 Grand Avenue Commercial Property is listed under MLS listing number IV21202173 and has a listing price of $1,000,000. You can find more Lake Elsinore homes for sale here.

Data Provided by California Regional Multiple Listing Service

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