22054 Treasure Island, Menifee, California 92587, Canyon Lake, 92587 - 2 bed, 2 bath
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Menifee, California 92587
This High-Potential Investment Opportunity is listed at a List Price of $599,000, which aligns with the $599,000 Fair Market Value, reflecting a stable and fair entry point for this waterfront enclave. Featuring a Condition Rating of 4, the property offers significant upside for cosmetic modernization to match its premium location. Residents enjoy resort-style amenities, including a private boat dock and panoramic lake views. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a value-add project in a secure, gated community.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 22054 Treasure Island Subject | $599,000* List Price | 2 | 2 | 1,252 | $478 | - |
A 22196 Treasure Island Active | $749,000 List Price | 2 | 2 | 1,252 | $598 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1974, this property is functional but dated. The kitchen features older white appliances and tile countertops, and the bathrooms show aging finishes. While the laminate flooring appears to be a more recent update, the overall interior reflects a renovation age of over 20 years, requiring cosmetic modernization to meet current market standards.
Situated on Treasure Island, this condo offers exceptional east-facing views of Canyon Lake and the surrounding mountains, providing a premium lakeside living experience.
Residents benefit from double-gated security and access to a private boat dock, slip, pool, spa, golf course, and tennis courts, offering an unparalleled recreational lifestyle.
Located within the exclusive Treasure Island enclave of Canyon Lake, the property provides a high level of security and privacy within one of Riverside County's most sought-after private communities.
The monthly association fee of $657 is significant, which may impact the overall affordability and appeal for budget-conscious buyers.
With 91 days on the market and a recent price reduction, the property may be facing challenges with its initial valuation or current market demand.
Welcome to an exceptional lakefront retreat on prestigious Treasure Island, an exclusive gated enclave nestled within the private community of Canyon Lake. Perfectly positioned to capture spectacular east-facing sunrises, this waterfront residence offers panoramic views of Canyon Lake and the surrounding mountain ranges, creating a breathtaking backdrop from dawn to dusk. Step outside to your private covered boat dock and enjoy effortless access to boating, fishing, paddleboarding, or an evening cruise across the lake. Whether entertaining guests or enjoying a quiet morning on the water, this home embodies the best of Southern California lakefront living. Treasure Island residents enjoy an array of private amenities, including a resort-style pool and spa, clubhouse with fitness equipment, and a picturesque walking path that meanders around the island. As a resident of Canyon Lake, you'll also have access to an exceptional lifestyle featuring a championship golf course, waterfront parks and beaches, tennis and pickleball courts, an equestrian center, dining, year-round community events, and 24-hour guarded gate security. This is more than a home—it's a waterfront lifestyle defined by luxury, recreation, and the beauty of every sunrise.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,252 | - |
| Lot Size | 1,411 | - |
| Price | $599.0K | $403.2K |
| Price per sq ft | $478 | $391 |
| Built year | 1974 | 0 |
| HOA | $657.0 | $0 |
| Days on market | 100 | 150 |
Jul 12, 2026
$599,000
$619,900
-3% Price Drop
Initial Listing
Apr 13, 2026
$619,900
Initial Listing
Oct 4, 2002
$230,000
Public Record