108 S Chestnut, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 4 bed, 3 bath
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108 S Chestnut
Lake Elsinore, California 92530
ACTIVE
CONDITION: EXCELLENT
4Beds
3Baths
1,048Sq Ft
5,527Lot Size
Property Price
LIST PRICE$560,000
EST. MARKET VALUE
$528,404
5% AboveMARKET VALUE
SUMMARY
This Turnkey Single Family Residence is a Strong Value Opportunity, listed at $580,000—positioned above the $534,600 Fair Market Value. While priced above the current estimate, the property features a Mint Condition Rating with a fully remodeled interior and a 1-bedroom, 1-bathroom ADU, offering significant income potential. With its Lake View and prime location in Historic Downtown, this home provides a rare blend of lifestyle and utility. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a move-in ready asset with rental versatility.
Estimated Market Value
$528,404
Based on Realkey algorithm analyzing recent comparable sales in Lake Elsinore.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 108 S Chestnut Subject 4 bd · 3 ba · 1,048 sqft · $504 | $560,000* List Price | 4 | 3 | 1,048 | $504 | - |
A 210 N Chestnut Active 2 bd · 2 ba · 1,065 sqft · $423 · 0.2 mi | $449,999 List Price | 2 | 2 | 1,065 | $423 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
The property has undergone a complete modern renovation within the last few years. It features a brand-new kitchen with white shaker cabinets and stone counters, new wide-plank flooring, recessed lighting, and updated windows. The exterior is well-maintained with new pavers and a finished ADU, meeting the criteria for mint condition with no immediate maintenance required.
PROSSTRENGTHS & OPPORTUNITIES
- Income Potential & Versatility
The property includes a fully completed 1-bedroom, 1-bathroom ADU, providing an excellent opportunity for rental income or a private space for extended family.
- Prime Location & Views
Situated in the heart of Historic Downtown, the home offers high walkability to shops and restaurants, complemented by gorgeous, direct views of Lake Elsinore.
- Turnkey Remodeled Condition
The residence has been completely remodeled, offering a modern and move-in-ready interior that saves the buyer from the time and expense of immediate renovations.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =5527, other record lot size in square feet = 5227. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1048, other record living area = 598. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 2.
- Recently Sold Property
The property was recently sold within the past year on 2026-03-09. The sold price is $255,000.00.
- Compact Living Space
With only 1,048 total square feet distributed across four bedrooms and three bathrooms, the individual rooms and common areas are likely very small and may feel cramped.
About 108 S Chestnut
This is a must see completed remodeled 3 bedroom 2 bath home in the heart of Historic Downtown Main Street. Walk to Old Town, restaurants, shopping and market night. This property is located across from The Lake and has a gorgeous view of the water. Property features a completed 1 bedroom 1 bath ADU perfect for extended family, and enough room for RV parking. Don't miss looking at this one!*SELLER IS WILLING TO PAY BUYER'S RATE DOWN PREMIUM IN ORDER TO LOWER PAYMENT*
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1945
- Lot Size
- 5,527 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 1,048 | 2,014.188 |
| Lot Size | 5,527 | 7,537.856 |
| Price | $560.0K | $605.8K |
| Price per sq ft | $534 | $297 |
| Built year | 1945 | 2005 |
| HOA | $0 | $143 |
| Days on market | 49 | 70 |
Pricing History
Listed for Sale
Oct 7, 2026
$560,000
$580,000
-3% Price Drop
Initial Listing
Price Change
Sep 6, 2026
$580,000
Initial Listing
Sold
Mar 9, 2026
$255,000
Public Record