16514 Mountain, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 3 bed, 3 bath
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Lake Elsinore, California 92530
This property presents a High-Potential Investment Opportunity with a List Price of $650,000—positioned well above the $429,165 Fair Market Value by -51%. Featuring a Fair Condition Rating, this probate sale requires significant renovation to the upstairs and systems. The expansive ½+ acre lot offers substantial upside for RV parking or future structural additions. With seller credits available to offset repair costs, this asset is a strategic acquisition for Fix-and-Flip Investors or Contractors capable of executing a comprehensive value-add project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 16514 Mountain Subject | $650,000* List Price | 3 | 3 | 1,725 | $249 | - |
A 801 Broadway Sold | $615,000 | 3 | 3 | 1,753 | $351 | 0.7 mi |
B 29231 Spectra Drive Sold | $550,000 | 3 | 2 | 1,753 | $314 | 0.9 mi |
C 29073 Forest View Active | $619,900 List Price | 3 | 3 | 1,857 | $334 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1989 (35 years old) and explicitly marketed as a probate sale needing additional work and finishing touches. While the downstairs has seen partial updates like laminate flooring, the upstairs remains dated with original blue carpeting and popcorn ceilings. The property requires significant rehab to systems and cosmetics, fitting the criteria for a contractor or investor opportunity.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13939, living area = 1725.
The property features a large lot with stunning mountain views and ample space for RV parking or future customization, offering significant outdoor utility and privacy.
With a partially renovated downstairs and an unfinished upstairs, this home presents a prime opportunity for investors or buyers looking to build equity through personalization.
As a probate sale, the transaction may involve additional legal requirements or a potentially longer closing timeline compared to a traditional residential sale.
The upstairs portion of the home requires significant finishing and improvements, which may pose a challenge for buyers seeking a fully turnkey property.
Welcome to 16514 Mountain St, a probate sale offering an incredible opportunity to own a spacious property in a highly desirable location with endless potential. Situated on a quiet, well-established street in a family-friendly neighborhood, this 3-bedroom, 2.5-bath home sits on an expansive ½+ acre lot with beautiful mountain views and plenty of room to create your dream property. This home offers a unique chance for buyers looking to personalize a property to their own taste. The downstairs has been partially renovated, while the upstairs still offers room for improvements and finishing touches, making it ideal for investors, contractors, or owner-occupants ready to add value and make it their own. The large lot provides abundant possibilities for outdoor living, entertaining, RV parking, additional structures, or future customization. Conveniently located near shopping, schools, dining, and with easy freeway access for commuters, this property combines location, lot size, and opportunity all in one. The seller and executor understand the home may need additional work and are open to considering seller credits to help make the property more comfortable and move-in ready. With strong potential and a prime Lake Elsinore location, this is a rare opportunity you won’t want to miss. [some photos have been digitally enhanced & virtually staged]
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 47% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,725 | 1,928 | 35% |
| Lot Size | 13,939 | 7,319 | 90% |
| Price | $650.0K | $595.0K | 74% |
| Price per sq ft | $377 | $306 | 83% |
| Built year | 1989 | 2003 | 37% |
| HOA | $0 | $0 | 50% |
| Days on market | 17 | 169 | 2% |
May 20, 2026
$650,000
Initial Listing
Jul 1, 1988
$134,000
Public Record