138 E Peck, Lake Elsinore, California 92530, Lake Elsinore, 92530 - bed, bath

138 E Peck, Lake Elsinore, California 92530 home-pic-0
ACTIVE$750,000$2,742/sqft
138 E Peck, Lake Elsinore, California 92530
0Bed
0Bath
2,742Sqft
7,405Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Strong Income Potential & Flexibility: This property is an income-producing duplex offering significant flexibility for buyers, with the option to live in one unit and rent the other, or rent both for immediate and strong income potential in a growing area.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 2742, other record living area = 1445.

Compared to the nearby listings

Price:$750.0K vs avg $725.0K (+$25,000)67%
Size:2,742 sqft vs avg 2,310 sqft67%
Price/sqft:$274 vs avg $28233%

More Insights

Built in 1936 (90 years old).
Condition: This property is a duplex with one unit newly built in 2023 and the front unit completely remodeled with modern finishes. Both units feature new LVP flooring, updated kitchens with white shaker cabinets and modern countertops, and renovated bathrooms with contemporary fixtures. The rear unit, being new construction, meets the 'newly built' criteria, and the front unit's 'completely remodeled' status aligns with 'extensively renovated within 5 years.' Despite the original structure's age (1936), the living spaces are virtually new, warranting an excellent score.
Year Built
1936
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
$274
HOA
-
Days on market
-
Sold On
-
MLS number
IV26011016
Home ConditionExcellent
Features
Patio
View-

About this home

Come enjoy an incredible opportunity to own a beautifully upgraded income-producing duplex in the heart of Lake Elsinore. This exceptional property offers flexibility, strong rental potential, and modern living—all within walking distance to downtown dining, shopping, and just moments from the lake. The front unit has been completely remodeled and features 3 bedrooms, 2.5 bathrooms, and approximately 1,500 square feet of thoughtfully updated living space. With its modern finishes and inviting layout. This unit currently rents the shed in back for additional income. The rear unit, built in 2023, offers 3 bedrooms and 2 bathrooms with approximately 1,300 square feet of contemporary living. Both units are in excellent condition and each includes its own private laundry room, separate gas and electric meters, and a sub-metered water meter, making this an ideal setup for owner-occupants or investors alike. Both units are currently rented, with the option for tenant-occupied or vacant delivery at close of escrow, offering flexibility to live in one and rent the other—or rent both and enjoy immediate income. Additional highlights include a shared driveway, well-maintained exteriors, and a prime downtown Lake Elsinore location that enhances long-term rental demand. Some reasons this is a great buy: Amazing rental opportunity, Live in one, rent the other—or rent both, Close to the lake and walkable to everything, Strong income potential in a growing area Please note: Photos have been digitally enhanced to remove tenants’ personal belongings for privacy and security. Don’t miss this rare opportunity to own a beautifully renovated, newer-construction duplex in one of Lake Elsinore’s most desirable locations. Schedule your private showing today and explore the income and lifestyle potential this exceptional property has to offer.

S
SONIA OROZCO
Listing Agent

Price History

Date
Event
Price
03/31/22
Sold
$485,000
04/27/17
Sold
$275,000
07/31/02
Sold
$123,500
Condition Rating
Excellent

This property is a duplex with one unit newly built in 2023 and the front unit completely remodeled with modern finishes. Both units feature new LVP flooring, updated kitchens with white shaker cabinets and modern countertops, and renovated bathrooms with contemporary fixtures. The rear unit, being new construction, meets the 'newly built' criteria, and the front unit's 'completely remodeled' status aligns with 'extensively renovated within 5 years.' Despite the original structure's age (1936), the living spaces are virtually new, warranting an excellent score.
Pros & Cons

Pros

Strong Income Potential & Flexibility: This property is an income-producing duplex offering significant flexibility for buyers, with the option to live in one unit and rent the other, or rent both for immediate and strong income potential in a growing area.
Modern & Upgraded Units: The front unit has been completely remodeled with modern finishes, and the rear unit was newly built in 2023, ensuring both units are in excellent condition and offer contemporary living spaces.
Independent Utilities & Amenities: Each unit features its own private laundry room, separate gas and electric meters, and a sub-metered water meter, providing autonomy for tenants and simplifying expense management for the owner.
Prime Walkable Downtown Location: Situated in downtown Lake Elsinore, the property is within walking distance to dining, shopping, and moments from the lake, enhancing long-term rental demand and tenant appeal.
Additional Income Stream: The front unit currently generates extra income by renting out a shed in the back, providing a unique and tangible bonus revenue source.

Cons

MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 2742, other record living area = 1445.
Shared Driveway: The property features a shared driveway, which could potentially lead to parking or access conflicts between tenants if not managed carefully.
Age of Original Structure: While the front unit is remodeled, its original construction year of 1936 suggests potential underlying older infrastructure that may require future attention, despite cosmetic upgrades.
Lack of Scenic Views: The property description explicitly states 'view: None,' which could be a drawback for buyers seeking scenic lake or city views, especially given its proximity to Lake Elsinore.
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