23563 Lodge Drive, Canyon Lake, California 92587, Canyon Lake, 92587 - 1 bed, 2 bath
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Canyon Lake, California 92587
This Value-Add Residential Asset is listed at $265,000, providing an accessible entry point into the Southern California market. While the price is positioned near the $254,725 Fair Market Value, the property’s primary value lies in its 5,227 sqft lot and ADU Development Potential. With a Condition Rating of 5, the 1947 structure requires substantial modernization but benefits from proximity to Canyon Lake amenities, Quail Valley Elementary, and the Perris Union High District. This is a strategic acquisition for Fix-and-Flip Investors or Contractors looking to capitalize on a high-utility lot.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 23563 Lodge Drive Subject | $265,000* List Price | 1 | 2 | 520 | $490 | - |
A 23524 Lodge Active Under Contract | $189,000 List Price | 1 | 1 | 400 | $473 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1947, this 520 sqft property is marketed as an investment opportunity requiring substantial modernization. Exterior images reveal significant deferred maintenance, including a dilapidated plywood and lattice fence, a dated swamp cooler, and worn stucco. The listing description's focus on 'potential' and 'customization' indicates the home is not move-in ready and likely requires major structural or system overhauls to meet contemporary standards.
The generous 5,227 sqft lot provides significant value-add opportunities, including the potential to construct an Accessory Dwelling Unit (ADU) or expand the existing structure.
Located near Canyon Lake, the property offers convenient access to premium recreational activities such as boating, fishing, and outdoor parks, appealing to active lifestyle buyers.
Priced at $265,000, this listing represents a highly accessible entry point into the Southern California market, making it an ideal project for investors or first-time flippers.
At only 520 square feet, the current living area is exceptionally small for a single-family residence, which may limit the buyer pool to individuals or those prepared for a major expansion.
Built in 1947 and marketed as a 'customization opportunity,' the home likely requires substantial modernization and capital expenditure to meet contemporary living standards.
Excellent opportunity to own near Canyon Lake! This charming home offers great potential for customization and added value. Spacious lot may provide ADU possibilities (buyer to verify). Enjoy nearby access to Canyon Lake amenities including boating, fishing, and outdoor recreation. Perfect for investors or buyers looking to create their ideal space.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 4.2 mi
Grades 6-8 • 4.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 3.0 | 1% |
| Baths | 2.0 | 3.0 | 49% |
| Square foot | 520 | 2,198 | 1% |
| Lot Size | 5,227 | 7,841 | 5% |
| Price | $265.0K | $685.0K | 1% |
| Price per sq ft | $510 | $349 | 92% |
| Built year | 1947 | 1986 | 2% |
| HOA | $0 | $350 | 16% |
| Days on market | 6 | 190 | 1% |
Apr 16, 2026
$265,000
Initial Listing
May 31, 2013
$57,000
Public Record
Apr 12, 2002
$67,500
Public Record
May 26, 2000
$50,500
Public Record
Aug 20, 1999
$13,500
Public Record
Jan 19, 1996
$16,500
Public Record