22551 Canyon Lake S, Canyon Lake, California 92587, Canyon Lake, 92587 - 4 bed, 3 bath
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Canyon Lake, California 92587
This Four-Bedroom Residential Asset is a High-Potential Investment Opportunity with a List Price of $539,900, matching its $539,900 Fair Market Value. While holding a Condition Rating of 4, the home features high-value infrastructure including Owned Solar, a New AC Unit, Hillside Views, and a Private Deck and Patio. Located in the premier Canyon Lake gated community within the Lake Elsinore Unified district, the "as-is" sale provides a strategic entry point for modernization. This asset is perfectly suited for Fix-and-Flip Investors or Contractors seeking forced appreciation in a resort-style market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 22551 Canyon Lake S Subject | $539,900* List Price | 4 | 3 | 2,216 | $244 | - |
A 22730 Canyon Lake S Sold | $651,000 | 3 | 3 | 2,290 | $284 | 0.2 mi |
B 22552 Canyon Club Sold | $675,000 | 4 | 3 | 2,572 | $262 | 0.4 mi |
C 30846 Early Round Drive Sold | $655,000 | 4 | 3 | 2,137 | $307 | 0.3 mi |
D 30471 Caliente Place Sold | $670,000 | 3 | 2 | 2,241 | $299 | 0.4 mi |
E 22811 Cove View Active | $649,999 List Price | 4 | 4 | 2,526 | $257 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1979, the property is well-maintained but shows clear signs of age and requires cosmetic updates. While it features high-value improvements like owned solar, a new AC unit, and new downstairs carpeting, the kitchen and bathrooms remain dated. The kitchen cabinets show visible wear on the finish, and the bathroom fixtures and tiling reflect older styles. The 'as-is' sale condition and significant price reductions further indicate a property that, while functional, needs modernization to meet current market standards for a higher rating.
The property features owned solar panels and a brand-new AC unit, offering significant long-term savings on utility costs and improved climate control.
Located in Canyon Lake, residents enjoy 24/7 guarded gate security and access to elite amenities including a private lake, golf course, equestrian center, and beaches.
The dual-level layout includes a wet bar, fireplace, and separate living area downstairs, making it ideal for multi-generational living or an expansive entertainment space.
The property is being sold in its current condition with no seller repairs or warranties, requiring the buyer to assume all risks for potential deferred maintenance.
A significant price reduction history from $639,900 down to $539,900 suggests the property has faced challenges in attracting buyers at its previous price points.
Built in 1979, the home may require further modernization of original systems or cosmetic elements beyond the recent minor updates to meet contemporary standards.
Canyon Lake home with possible boat/toy parking, see agent notes and supplements. Home has owned SOLAR, NEW AC Unit, and NEW Carpeting in the downstairs area. Home has 4 bedrooms 2.5 baths, 2-car garage. Main entry is at street level along with the main living shared-space. The main level has wood floors, kitchen has granite counters, tiled flooring, half bath, garage access and a side door and slider that open to your covered balcony with hillside views. The stairs that lead to the bottom patio and backyard. Downstairs has 4 bedrooms, 2 baths, separate laundry room, wet bar, living area with a fireplace, and additional dining/den area. Home also has a whole house fan, washer/dryer, fridge. Canyon Lake has controlled access with a 24/7 guarded gate, community events, a lake, equestrian center, a private beach, parks, and picnic areas. There is also a golf course, tennis courts, and a clubhouse that offers recreational activities such as fitness classes, concerts, and events. ALL THE INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. AGENT AND BUYERS TO PERFORM DUE DILIGENCE IN RESPECT TO ALL ASPECTS OF THE PROPERTY, INCLUDING POSSIBLE EASEMENT FOR RECREATIONAL VEHICLE PARKING ON THE LOT, INCLUDING APPLIANCES. SELLER HAS NO KNOWLEDGE OF THEIR CONDITION. HOME IS BEING SOLD IN ITS CURRENT AS-IS CONDITION WITH NO REPAIRS. BROKER AND SELLER MAKE NO REPRESENTATIONS OR WARRANTIES EXPRESSED OR IMPLIED WITH RESPECT TO THE ACCURANCY OR COMPLETENESS OF INFORMATION PROVIDED ON THE MLS AND ITS SYNDICATIONS AND WILL HAVE NO LIABILITY WITH RESPECT TO ITS USE OR RELIANCES. THIS INFORMATION IS NOT A SUBSTITUTE FOR INSPECTIONS PROVIDED BY LICENSED PROFESSIONALS.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 61% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,216 | 2,214.5 | 50% |
| Lot Size | 7,405 | 7,841 | 43% |
| Price | $539.9K | $685.0K | 14% |
| Price per sq ft | $244 | $349 | 10% |
| Built year | 1979 | 1986 | 24% |
| HOA | $330.0 | $350 | 32% |
| Days on market | 222 | 194 | 63% |
Feb 13, 2026
$539,900
$559,900
-4% Price Drop
Initial Listing
Jan 10, 2026
$559,900
$574,900
-3% Price Drop
Initial Listing
Dec 7, 2025
$574,900
$589,900
-3% Price Drop
Initial Listing
Nov 6, 2025
$589,900
$609,900
-3% Price Drop
Initial Listing
Oct 8, 2025
$609,900
$639,900
-5% Price Drop
Initial Listing
Sep 12, 2025
$639,900
Initial Listing