20831 Mandeville, Perris, California 92570, Perris, 92570 - 3 bed, 2 bath
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Perris, California 92570
This property presents a Strong Value Opportunity with a List Price of $800,000—positioned well below the $845,155 Fair Market Value by 5%. This valuation gap offers $45,155 in Instant Equity. Featuring a Fair Condition Rating (6), the 3.37-acre lot offers massive development potential, including ADUs and equestrian facilities, complemented by panoramic Lake Mathews views. While requiring renovation, the expansive land provides a unique canvas for value-add projects. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a custom compound.
Property is land value only, full reconstruction required.
Built in 1975 (51 years old) with no evidence of major renovations. The listing explicitly states that the 'true value lies in the land,' which is the primary indicator for this category. The property shows significant deferred maintenance, and the description focuses on the potential for new construction or total rehab rather than the current home's condition.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 146797, living area = 2226.
The massive 3.37-acre lot provides unparalleled privacy and versatility, offering ample space for a horse ranch, workshop, or additional dwelling units (ADUs).
The property boasts stunning, unobstructed views of Lake Mathews, local mountains, and city lights, significantly enhancing its long-term value and appeal.
Built in 1975, the existing structure requires substantial updates and renovation, as the primary value of the listing is currently concentrated in the land.
While offering seclusion, the property is located a considerable distance from schools and major shopping centers, which may be a drawback for some families.
Amazing Lake Mathews Views on 3.37 Acres! This three-bedroom, two-bath home offers breathtaking views of Lake Mathews and endless possibilities. The true value lies in the land, making it an exceptional opportunity for buyers seeking space, privacy, and potential. The expansive property provides ample room for a horse ranch, barn, corrals, workshop, garage, ADU(s), and more. The existing home offers plenty of potential for renovation and customization, while the acreage creates opportunities for a family compound, multi-generational living, or an income-producing property. Priced to attract the right buyer, this unique property is packed with possibilities and ready for your vision. Don't miss this rare opportunity to own acreage with stunning views and unlimited potential.
No exterior & parking available.
Grades K-6 • 7.9 mi
Grades K-6 • 14.1 mi
Grades 6-8 • 7.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.5 |
| Baths | 2.0 | 3.0 |
| Square foot | 2,226 | 1,916 |
| Lot Size | 146,797 | 7,016 |
| Price | $800.0K | $583.5K |
| Price per sq ft | $359 | $293 |
| Built year | 1975 | 1997 |
| HOA | $0 | $99 |
| Days on market | 27 | 67 |
Jun 25, 2026
$800,000
Initial Listing