20370 Lakeridge, Perris, California 92570, Perris, 92570 - 5 bed, 4 bath
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Perris, California 92570
This expansive 2.78-acre estate represents a High-Potential Investment Opportunity, listed at $1,099,990—positioned well below the $1,065,359 Fair Market Value by -3%. Featuring a 5-bedroom main house and an unofficial ADU, the property offers significant value-add potential through renovation. With a Condition Rating of 5, the home requires modernization to reach its full market potential. The site includes 5 horse stables, a pool and spa, and panoramic lake views, making it an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a multi-generational project.
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 | $298 | - |
A 15281 Ranchito Drive Active | $985,000 List Price | 6 | 4 | 3,643 | $270 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1979 (45 years old) with no recorded major renovations; the listing explicitly states the home needs a remodel to meet current standards. Exterior images show weathered decking and dated finishes, aligning with the criteria for properties over 30 years old requiring significant rehab.
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 expansive 2.78-acre lot is a rare find, fully equipped with five horse stables, a corral, a pool, a spa, and massive parking capacity for RVs, boats, and toys.
The property offers exceptional, unobstructed views of Lake Mathews, surrounding mountains, and city lights, significantly enhancing the site's intrinsic value and appeal.
The residence requires a comprehensive remodel to meet modern standards, which will necessitate a significant additional budget for repairs and aesthetic upgrades.
The secondary 3-bedroom unit is noted as unofficial, which may present challenges regarding building permits, legal compliance, and traditional financing options.
Great property with views of Lake Mathews, 5 horse stables and corral, pool & spa, and grass area, ample room for RV/Toy/Boat parking, there is unoffical ADU with 3 bed rooms, 2 car space 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 is a multi level bed room, 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. Seller is in process of cleaning property , interior and exterior.
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 | 83% |
| Baths | 4.0 | 2.0 | 85% |
| Square foot | 3,571 | 2,186 | 92% |
| Lot Size | 121,097 | 13,068 | 90% |
| Price | $1.10M | $625.0K | 92% |
| Price per sq ft | $308 | $317 | 43% |
| Built year | 1979 | 2002 | 24% |
| HOA | $0 | $0 | 50% |
| Days on market | 57 | 157 | 3% |
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