27321 La Piedra Road, Menifee, California 92584, Menifee, 92584 - 3 bed, 2 bath
ACTIVE$1,200,000
27321 La Piedra Road, Menifee, California 92584
3Beds
2Baths
2,016Sqft
37,897Lot
Year Built
2000
Close
-
List price
$1.2M
Original List price
$1.2M
Price/Sqft
$595
HOA
-
Days on market
-
Sold On
-
MLS number
PW25042434
Home ConditionFair
Features
Good View: Hills
Patio
ViewHills
About this home
Possibly Over-Priced:The estimated price is 12% below the list price. We found 3 Cons,6 Pros. Rank: price - $1.20M(98th), sqft - 2016(34th), beds - 3(39th), baths - 2(37th).
27321 La Piedra rd features a 2,016 sq ft 3 bedroom 2 bathroom 433A certified Manufactured Home on a permanent foundation built in 2000 on just under 1 acre located in the "Community Core" of Menifee's Economic Development Corridor. This large lot has development potential & the neighboring properties 30525 Old Windmill rd, 30550 stern dr, 30581 Old Windmill rd, 30620 Old Windmill rd, 30640 Old Windmill rd & 30645 Old Windmill rd are listed for sale as well.
Condition Rating
Fair
The property was built in 2000, making it 24 years old. While the exterior appears well-maintained and the AC unit looks functional, there is no mention of any significant renovations in the listing description. Crucially, no interior images are provided, preventing an assessment of the kitchen, bathrooms, flooring, or other internal features. Based on its age and the absence of stated updates, the interior is likely original or minimally updated, suggesting it would require minor updates to meet current styles and standards, aligning with the 'Fair' condition criteria.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 37897, living area = 2016.
Significant Development Potential: Located in the 'Community Core' of Menifee's Economic Development Corridor, this property offers substantial development potential, making it attractive for investors and future growth.
Large Acreage: With just under 1 acre (37,897 sq ft), the property provides ample space for expansion, landscaping, or further development, aligning with its strategic location.
433A Certified Manufactured Home: The manufactured home is 433A certified and on a permanent foundation, which significantly enhances its financing options and long-term value, making it more comparable to traditional stick-built homes.
Assemblage Opportunity: The listing explicitly states that neighboring properties are also for sale, presenting a unique opportunity for a developer to acquire multiple adjacent parcels for a larger-scale project.
Hills View: The property boasts desirable hills views, adding aesthetic appeal and potentially increasing its market value.
Cons
Manufactured Home Perception: Despite being 433A certified, the classification as a 'manufactured home' can still carry a stigma for some buyers and lenders, potentially limiting the buyer pool or affecting appraisal outcomes.
Overpriced Listing: The listing price of $1,200,000 is 12% higher than the estimated property value of approximately $1,046,447, which could deter potential buyers or necessitate price adjustments.
Competition from Adjacent Listings: The simultaneous listing of multiple neighboring properties, while an opportunity for assemblage, could also create competition for individual buyers or indicate a broader market strategy that might influence pricing and demand.