20370 Lakeridge, Perris, California 92570, Perris, 92570 - 5 bed, 4 bath
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Perris, California 92570
This Value-Add Equestrian Estate is listed at $1,249,900, positioned well below the $1,264,470 Fair Market Value by 1%. This entry point offers $14,570 in Instant Equity for a property featuring Panoramic Lake Mathews Views and premium Equestrian Facilities. Currently holding a Fair Condition Rating, the residence requires a remodel but provides massive upside via a 5-Car Garage and a 3-bedroom unofficial ADU on nearly 3 acres. Located near Centennial High School, this is a prime project for Multi-generational Families or Value-Add Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 20370 Lakeridge Subject | $1,099,990* List Price | 5 | 4 | 3,571 | $321 | - |
A 20626 Dunsmuir Place Sold | $815,000 | 3 | 2 | 2,555 | $319 | 0.2 mi |
B 15455 Shelton Drive Sold | $790,000 | 3 | 2 | 2,325 | $340 | 0.9 mi |
C 20329 Luchs Active | $1,125,000 List Price | 5 | 3 | 3,194 | $352 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1979, the property is explicitly described in the listing as needing a remodel to meet current standards. While the exterior structures and grounds appear functional and maintained, the home features dated architectural elements such as window awnings and an aged wooden deck. The lack of recent renovations and the agent's own assessment of the need for updates align with the 'fair' condition category.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 121097, living area = 3571.
The property boasts stunning, unobstructed views of Lake Mathews, the surrounding mountains, and city lights, significantly enhancing its premium appeal and long-term value.
With a main 5-bedroom home, an additional 3-bedroom unofficial ADU, a 5-car garage, and workshop space on nearly 3 acres, this estate offers rare flexibility for multi-generational living or hobbyists.
The 1979-built home requires a comprehensive remodel to meet modern standards, which will necessitate a substantial additional investment of time and capital.
The secondary 3-bedroom unit is noted as unofficial, which may present legal compliance issues, financing hurdles, or complications during the permitting process.
Just lowered $150,000 4/18/26 Great property with views of Lake Mathews, horse stables and corral, pool and grass area, ample RV/Toy/Boat parking, there is unoffical ADU with 3 bed rooms two car garage, and still plenty of room for a work shop/stoarge you name it! Main home is 5 bed room 3 bath with lots of charm, main suite has its own fireplace and its multi level, 5 car garage, lots of concrete driveways and patios, and much more. The lot has 3 gated entrances, trees and more. Home is in need of a remodel if you want it updated to current standards.
No exterior & parking available.
Grades K-6 • 7.8 mi
Grades K-6 • 13.8 mi
Grades 6-8 • 7.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 80% |
| Baths | 4.0 | 2.0 | 88% |
| Square foot | 3,571 | 2,240.5 | 91% |
| Lot Size | 121,097 | 12,210.5 | 91% |
| Price | $1.10M | $635.4K | 94% |
| Price per sq ft | $308 | $310 | 48% |
| Built year | 1979 | 2005 | 21% |
| HOA | $0 | $0 | 50% |
| Days on market | 5 | 183 | 1% |
Apr 21, 2026
$1,099,990
$1,249,900
-12% Price Drop
Initial Listing
Apr 17, 2026
$1,249,900
Initial Listing
Apr 18, 2007
$1,042,000
Public Record
Sep 1, 2006
$1,000,000
Public Record
Feb 22, 1995
$320,000
Public Record