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138 E Peck, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 6 bed, 5 bath

138 E Peck, Lake Elsinore, California 92530 home-pic-0
ACTIVE$750,000$2,605/sqft
138 E Peck, Lake Elsinore, California 92530
6Beds
5Baths
2,605Sqft
7,405Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Income-Producing Duplex: This property is explicitly marketed as an income-producing duplex with strong rental potential, offering immediate income whether the buyer chooses to occupy one unit or rent both.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 2605, other record living area = 1445. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 3.

Compared to the nearby listings

Price:$750.0K vs avg $725.0K (+$25,000)67%
Size:2,605 sqft vs avg 2,310 sqft67%
Price/sqft:$288 vs avg $28850%

More Insights

Built in 1936 (90 years old).
Condition: This property is a duplex with one unit built in 2023 and the other extensively remodeled. The rear unit, built in 2023, features a modern kitchen with stainless steel appliances, white shaker cabinets, and new flooring, along with a contemporary bathroom. The front unit, described as 'completely remodeled,' also showcases new LVP flooring, white shaker-style kitchen cabinets, modern light fixtures, and updated bathrooms with new vanities and fixtures. While the original structure dates to 1936, the living spaces of both units are either newly constructed or recently renovated to a high, modern standard, aligning with the 'Excellent' criteria for being newly built or extensively renovated within 5 years.
Year Built
1936
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
$288
HOA
-
Days on market
-
Sold On
-
MLS number
IV26011051
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 built in 2023 and the other extensively remodeled. The rear unit, built in 2023, features a modern kitchen with stainless steel appliances, white shaker cabinets, and new flooring, along with a contemporary bathroom. The front unit, described as 'completely remodeled,' also showcases new LVP flooring, white shaker-style kitchen cabinets, modern light fixtures, and updated bathrooms with new vanities and fixtures. While the original structure dates to 1936, the living spaces of both units are either newly constructed or recently renovated to a high, modern standard, aligning with the 'Excellent' criteria for being newly built or extensively renovated within 5 years.
Pros & Cons

Pros

Income-Producing Duplex: This property is explicitly marketed as an income-producing duplex with strong rental potential, offering immediate income whether the buyer chooses to occupy one unit or rent both.
Prime Downtown Location: Situated in a prime downtown Lake Elsinore location, the property boasts walkability to dining, shopping, and is just moments from the lake, enhancing its appeal to tenants and long-term rental demand.
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 offer contemporary living in excellent condition.
Versatile Investment Opportunity: The property offers significant flexibility, allowing an owner-occupant to live in one unit and rent the other, or for an investor to rent both, catering to diverse buyer needs.
Independent Unit Utilities & Amenities: Each unit features its own private laundry room, separate gas and electric meters, and a sub-metered water meter, providing independence for tenants and simplified management for the owner.

Cons

MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 2605, other record living area = 1445. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 3.
Age of Original Structure: While the front unit is remodeled, the original structure dates back to 1936, which could imply potential underlying older infrastructure or maintenance considerations not fully addressed by cosmetic upgrades.
Shared Driveway: The property includes a shared driveway, which can sometimes lead to access, parking, or maintenance coordination issues between residents or with adjacent properties.
Tenant Occupancy & Transition: The property is currently tenant-occupied with an option for vacant delivery. This flexibility, while beneficial, may introduce complexities or delays in the closing process if vacant delivery is desired, or require managing existing tenant leases.
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