
Menifee, California 92585
Analysis of 23524 Pico Avenue, Menifee, California 92585 is currently available with a list price of $3,950,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Menifee Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
The residential structure was built in 1961 (63 years old), placing it well beyond the 20-year threshold for dated properties. While the 6,000 sqft commercial shop appears modern and functional, the lack of interior photos for the main house and the mention of AI-enhanced images suggest the living quarters are dated and likely require minor repairs or modernization to meet current standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 810216, living area = 1609.
The expansive 18.56-acre lot offers massive investment upside with the potential for future residential subdivision or a planned neighborhood in the growing Menifee area.
The property features a 6,000-square-foot commercial-style shop with five private offices and ADA-compliant parking, providing immediate utility for business headquarters or industrial operations.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =810216, other record lot size in square feet = 698266. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1609, other record living area = 6000.
The nearest sewer connection is approximately 1,200 feet from the property, which could introduce significant costs and logistical challenges for high-density development.
The primary 1,609-square-foot home dates back to 1961 and may require substantial modernization or replacement to align with the property's multi-million dollar valuation.
Unbelievable Opportunity on 18.56 Acres! Endless possibilities await with this exceptional 18.56-acre property offering space, versatility, and incredible investment potential. The charming 1,609-square-foot home, built in 1961, features four bedrooms, two bathrooms, a spacious living room, a cozy family room with a fireplace, and a screened-in porch—perfect for relaxing and enjoying the peaceful surroundings. With a 2 car attached garage. Also located on the property is an impressive 6,000-square-foot commercial-style shop complete with five private offices, a reception area, and a bathroom. The property includes 10 parking spaces, including one ADA-compliant space, making it ideal for a variety of business or commercial uses. Additional improvements include three septic systems and two outbuildings, providing even more flexibility for future use. There are two alarm systems, one on home and one on Building. Currently zoned RA (Rural Agricultural), this property offers outstanding potential for farming, equestrian use, livestock, or creating your own private ranch. With future development, the land may also present exciting opportunities for residential expansion or a planned neighborhood, subject to county approval. Sewer is about 1200 ft. from property. Whether you're looking for a working ranch, a business headquarters, an agricultural investment, or a property with exceptional development potential, this one-of-a-kind estate is ready to bring your vision to life. Some photos have been AI enhanced, Buyer to do their own due diligence about information of this property, going to the county, looking up permits etc!!!!!!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,609 | 2,007 |
| Lot Size | 810,216 | 7,405 |
| Price | $3.95M | $585.6K |
| Price per sq ft | $2.5K | $286 |
| Built year | 1961 | 2005 |
| HOA | $0 | $93 |
| Days on market | 22 | 60 |
Jul 1, 2026
$3,950,000
Initial Listing