24771 Washington Avenue, Murrieta, California 92562, Murrieta, 92562 - 3 bed, 2 bath
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Murrieta, California 92562
This Historical Mixed-Use Asset represents a High-Potential Investment Opportunity, listed at $799,900—positioned well below the $770,893 Fair Market Value by -3%. While the property is priced slightly above market, its Good Condition Rating and 1903 historical charm offer significant upside. Featuring a massive 13,940 sq. ft. lot with a 30x50 shop and mountain views, the property provides immense utility for creative development. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a versatile, high-visibility venue in Downtown Murrieta.
Property is move-in ready.
Built in 1903, this property has been 'rehabbed to modern day expectations' as stated in the description, which is evident in the updated kitchen with stainless steel appliances, modern cabinetry, and countertops, and a recently renovated bathroom featuring contemporary fixtures and tiling. While some areas retain their historic charm with older wood floors and paneling, the key functional spaces are move-in ready and show significant recent updates. The property appears well-maintained overall, aligning with the 'Good' criteria for a property extensively renovated within the last 5-15 years, despite its original build year.
Built in 1903, the property has been rehabbed to modern expectations while retaining its original charm and historical character, offering a unique blend of old and new.
Situated in Historical Downtown Murrieta, this property offers excellent visibility and strategic positioning for various residential, commercial, or mixed-use ventures.
The substantial 13,940 square foot lot, comprised of two separate APNs, provides significant flexibility for expansion, potential subdivision, or diverse development opportunities.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =1394, other record lot size in square feet = 6969.
The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 1394, living area = 1982.
The explicit instruction for buyers to perform their own due diligence regarding 'intended use with City of Murrieta' suggests potential complexities or restrictions for commercial or mixed-use applications, which may require additional investigation and approvals.
OPPORTUNITY IS KNOCKING: You must see to experience and realize the possibilities. Gorgeous property situated in Historical Downtown Murrieta; the opportunities are only limited by your imagination. Built in 1903, this home has been rehabbed to modern day expectations, leaving the charm and history intact. 2 separate apn’s make up the 13,940 square foot lot size. The building is 1982 Square Feet, 3 rooms upstairs, 2 balconies, downstairs has several separate entertaining rooms, kitchen, bath dining, plus, plus, plus. The property has a metal storage/shop approx. 30X50 and completely fenced. What a venue. Buyers to perform their own due diligence regarding intended use with City of Murrieta.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 41% |
| Baths | 2.0 | 3.0 | 29% |
| Square foot | 1,982 | 2,230 | 35% |
| Lot Size | 1,394 | 7,405 | 2% |
| Price | $799.9K | $700.0K | 67% |
| Price per sq ft | $404 | $327 | 79% |
| Built year | 1903 | 1997 | 0% |
| HOA | $0 | $0 | 50% |
| Days on market | 174 | 153 | 56% |
May 20, 2026
$799,900
$875,000
-9% Price Drop
Initial Listing
Dec 24, 2025
$875,000
Initial Listing