29120 Melby Drive, Lake Elsinore, California 92532, Lake Elsinore, 92532 - 2 bed, 2 bath
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Lake Elsinore, California 92532
Analysis of 29120 Melby Drive, Lake Elsinore, California 92532 is currently available with a list price of $499,999. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Lake Elsinore Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is extensive renovation needed.
This 1979 manufactured home is explicitly marketed as an investor opportunity, suggesting it requires significant capital for repairs. While the kitchen has been updated with granite countertops, a large island, and relatively modern appliances, the rest of the home shows substantial signs of age and wear. Notable issues include sagging or uneven ceiling panels, outdated and cluttered bathrooms, and a weathered exterior, all of which align with the 'poor' condition category requiring rehabilitation.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 33541, living area = 1152.
The property sits on a generous 0.77-acre lot, providing ample space for RV parking, recreational vehicles, and the significant potential to add an Accessory Dwelling Unit (ADU).
Includes a separate workshop and a bonus room, offering versatile spaces for storage, hobbies, or additional workspace that add immediate utility to the property.
Built in 1979, this manufactured home may require significant modernization and could face more restrictive financing options compared to newer or site-built residences.
Marketed as an investor opportunity, the property likely requires a substantial capital injection for repairs and upgrades to reach its full market potential.
Investor Opportunity! This manufactured home sits on an expansive 0.77-acre lot, offering endless potential for those looking to create value. The property features 2 bedrooms and 2 bathrooms, along with a bonus room and a separate workshop—ideal for additional storage, hobbies, or future improvements. With ample space for RVs, recreational toys, or even the potential to add an ADU, the possibilities are truly endless. Conveniently located near the freeway and shopping centers, this property combines space, functionality, and accessibility. Don’t miss this unique opportunity to invest, expand, or customize to your vision!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 4.0 | 1% |
| Baths | 2.0 | 3.0 | 16% |
| Square foot | 1,152 | 2,532 | 1% |
| Lot Size | 33,541 | 7,405 | 97% |
| Price | $500.0K | $630.0K | 1% |
| Price per sq ft | $434 | $258 | 97% |
| Built year | 1979 | 2007 | 1% |
| HOA | $0 | $134 | 13% |
| Days on market | 11 | 196 | 1% |
Apr 11, 2026
$499,999
Initial Listing
Jun 30, 2011
$58,000
Public Record