Property photo 1
Property photo 2
Property photo 3
Property photo 4
Property photo 5
14 Beds
14 Baths
7,800 sqft

$2,040,000

120 W Heald, LAKE ELSINORE CA, 92530

Price per sqft$261.54
Built in1923
Property size7,800 sqft
Property typeMulti-family

Overview

Active

Listed Feb 2, 2026

Updated 11h ago

Rare opportunity to acquire a stabilized 14-unit multifamily asset in a prime Lake Elsinore location near the lake and within walking distance to downtown, dining, and shopping. The property features a desirable unit mix of four studios, six 1-bed/1-bath units, and four 2-bed/1-bath units, all currently tenant occupied and generating immediate income. Utilities are efficiently structured with separate gas and electric meters for each unit (14 total) and one shared water meter, helping reduce owner expenses. Situated on a large 18,730 sq ft lot across two APNs (374-173-002 & 374-173-003). No garage parking. Strong rental demand and consistent occupancy provide stable cash flow, with clear upside potential through rent increases. Recent capital improvements include a new roof, making this an excellent opportunity for investors seeking a value-add or long-term hold in a growing Inland Empire market with strong tenant appeal.

$13,572/mo

Est. mortgage payment based on a $2,040,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
IV26024597MR

Interior Features

Bedrooms
14
Bathrooms
14
Basement
No

Exterior Features

Lot Size
0.43 Acres

Listed by SUSANA FRANCO with GOLDEN EAGLE PROPERTIES
Listing Contact: 951-591-2458 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Greg Jones | CA DRE #00965808 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2026 Combined L.A./Westside MLS. All rights reserved.

Data last updated 10/21/2026

.     

Powered by Luxury Presence