17011 Gunnerson, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 3 bed, 1 bath
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Lake Elsinore, California 92530
This historic Spanish Colonial Revival is a Prime Investment Opportunity listed at $499,900—positioned well below the $513,241 Fair Market Value by 2%. This valuation gap provides $13,341 in Instant Equity. Featuring a Condition Rating of 4, the property offers significant upside through modernization of its 1932 finishes. The detached garage with a studio apartment provides immediate rental income potential, while the 21,344 sq ft lot and mountain views within the Lake Elsinore Unified district enhance long-term asset value. This is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 17011 Gunnerson Subject | $499,900* List Price | 3 | 1 | 1,608 | $307 | - |
A 17250 Gunnerson Street Active | $529,900 List Price | 2 | 2 | 1,582 | $335 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1932, this Spanish Colonial Revival home is well-maintained but shows significant signs of age and outdated finishes. While the exterior has been updated with newer stucco and solar panels, the interior features a dated kitchen with older cabinetry and white appliances, and only one bathroom for a three-bedroom home. The property retains historic charm like original oak flooring, but requires modernization of fixtures and systems to meet current market standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 21344, living area = 1608.
The property features a detached two-car garage with a studio apartment above, providing an excellent opportunity for rental income, a guest suite, or a private home office.
Built in 1932 in the Spanish Colonial Revival style, this home retains unique period details and original oak plank flooring, offering a rare level of character and historical significance.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
With three bedrooms and over 1,600 square feet of living space, the presence of only one bathroom may be a significant drawback for families or modern buyers.
As a 94-year-old structure currently undergoing various repairs, the home likely requires ongoing investment to modernize aging systems and maintain its historic integrity.
Check out this fantastic opportunity to own a piece of Lake Elsinore history! This home is perfect for investors, first time home buyers or anyone else looking for a cozy and architecturally significant gem to call their own. This home was built in 1932 in the "Country Club Heights" neighborhood in Spanish Colonial Revival style and has only had 3 owners over the last 94 years! The current owner made several updates during their 40+ years of ownership including updated stucco exterior and adding solar. The interior entry and living area features original oak plank flooring and many touches from the period that make this a very unique home. The home also features a spacious kitchen, 2 decent sized bedrooms, large living room/family room area with cozy fireplace and a "sun room" with terra cota style tile flooring. The large property features plenty of room for parking, separate area for solar panels and a detached two car garage with extra tall doors for high vehicles. Upstairs above the garage is a studio apartment for extra living space or a possible tenant. This home is located on a hill facing east where you can take in the magnificent views of our mountains and hills! This home has already had a full home inspection with several items already corrected by the current owner (like a new water heater!). Please inquire with the listing agent for a copy of the home inspection report prior to submitting an offer. Investors welcome! NOTE: SELLER IS IN THE PROCESS OF MAKING SEVERAL REPAIRS AND IMPROVEMENTS TO THE PROPERTY SO HURRY, THIS ONE WILL NOT LAST!!!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 46% |
| Baths | 1.0 | 3.0 | 6% |
| Square foot | 1,608 | 1,924 | 32% |
| Lot Size | 21,344 | 7,510 | 92% |
| Price | $499.9K | $595.0K | 18% |
| Price per sq ft | $311 | $310 | 51% |
| Built year | 1932 | 2004 | 3% |
| HOA | $0 | $0 | 50% |
| Days on market | 57 | 195 | 5% |
Feb 24, 2026
$499,900
Initial Listing