22587 Canyon Lake S, Canyon Lake, California 92587, Canyon Lake, 92587 - 3 bed, 2 bath
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Canyon Lake, California 92587
This Modernized Turnkey Residence is a Strong Value Opportunity, listed at $599,900—positioned well below the $645,381 Fair Market Value by 7%. This valuation gap provides $45,481 in Instant Equity for the incoming owner. Boasting a Mint Condition Rating, the home features a Renovated Shaker Kitchen, quartz countertops, and new LVP flooring throughout. Located on the "festive stretch" of Canyon Lake with Scenic Hill Views, residents enjoy resort-style amenities within the Lake Elsinore Unified district. This is an exceptional acquisition for Owner-Occupants or lifestyle-driven buyers seeking immediate appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 22587 Canyon Lake S Subject | $599,900* List Price | 3 | 2 | 1,729 | $362 | - |
A 22671 San Joaquin Dr. East Drive E Sold | $639,900 | 3 | 2 | 1,782 | $359 | 0.9 mi |
B 22568 Castle Crag Drive Sold | $600,000 | 3 | 2 | 1,785 | $336 | 0.3 mi |
C 30712 Pyramid Point Sold | $575,000 | 3 | 2 | 1,802 | $319 | 0.8 mi |
D 22637 Cascade Sold | $749,000 | 3 | 3 | 1,884 | $398 | 0.4 mi |
E 23268 Sage Sold | $610,000 | 3 | 3 | 1,622 | $376 | 0.7 mi |
F 22841 Wind Song Place Active | $674,999 List Price | 3 | 2 | 1,875 | $360 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While built in 1979, the property has undergone a comprehensive recent renovation (likely within the last 1-3 years). The kitchen and bathrooms are fully modernized with white shaker cabinetry, quartz countertops, subway tile backsplashes, and stainless steel appliances. The interior features new LVP flooring, updated fixtures, and fresh paint throughout, meeting the criteria for a mint-condition, renovated home.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7841, living area = 1729.
Situated on the 'festive stretch' of Canyon Lake Drive South, this home offers front-row access to seasonal parades, holiday lights, and vibrant neighborhood events.
The property grants access to a premier gated community featuring a 383-acre lake and extensive resort-style facilities, offering a high-quality lifestyle.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7841, other record lot size in square feet = 11761. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1729, other record living area = 4280.
Built in 1979, the home may require cosmetic updates or modernization of major systems to compete with newer residential standards in the area.
The $350 monthly association fee adds a significant fixed carrying cost that buyers must account for in their monthly budget.
Right on the festive stretch of Canyon Lake Drive South, this 3-bedroom, 2-bath home places you in the center of one of the community’s most vibrant settings—where seasonal parades, holiday lights, and neighborhood events unfold just outside your door. Offering 1,729 sq ft of living space, the home features a light-filled, open-concept layout designed for both everyday comfort and easy entertaining. Generously sized bedrooms provide plenty of space to unwind, while the expansive 7,800+ sq ft lot invites possibilities for outdoor living, gardening, or future enhancements. Living in Canyon Lake means more than just a home—it’s a lifestyle. Enjoy access to this private, gated community’s resort-style amenities, including a 383-acre lake. If you’re looking for a home that blends comfort, community, and year-round activity, this Canyon Lake gem is ready to welcome you.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.5 | 50% |
| Square foot | 1,729 | 2,183 | 32% |
| Lot Size | 7,841 | 8,276 | 49% |
| Price | $599.9K | $693.5K | 25% |
| Price per sq ft | $347 | $348 | 49% |
| Built year | 1979 | 1986 | 29% |
| HOA | $350.0 | $350 | 50% |
| Days on market | 46 | 160 | 4% |
May 1, 2026
$599,900
Initial Listing