
Canyon Lake, California 92587
This Panoramic Waterfront View Residence is a prime Value-Add Opportunity situated on a quiet cul-de-sac. Listed at $868,000, the price reflects the premium for its rare Panoramic Lake Views and spacious 2,799 sq. ft. layout, though it sits above the $767,774 Fair Market Value. With a Condition Rating of 4, the home is a "diamond in the rough" requiring cosmetic updates to its original 2001 features. Served by the Lake Elsinore Unified district, the property boasts a Granite Kitchen and a large lot. It is a perfect match for Owner-Occupants or Contractors seeking a high-upside project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 29258 Stampede Subject | $868,000* List Price | 4 | 3 | 2,799 | $274 | - |
A 22633 Inspiration Pt Sold | $765,000 | 4 | 3 | 2,687 | $285 | 0.4 mi |
B 29378 Old Wrangler Road Sold | $726,000 | 4 | 3 | 3,189 | $228 | 0.2 mi |
C 22552 Canyon Club Sold | $675,000 | 4 | 3 | 2,572 | $262 | 0.8 mi |
D 29172 Longhorn Drive Sold | $685,000 | 4 | 3 | 2,217 | $309 | 0.2 mi |
E 29595 Longhorn Drive Sold | $732,000 | 3 | 2 | 2,213 | $331 | 0.4 mi |
F 22941 Gold Rush Place Sold | $899,000 | 4 | 4 | 3,337 | $269 | 0.7 mi |
G 22138 Drover Way Pending | $849,999 List Price | 4 | 3 | 2,573 | $330 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 2001, this 23-year-old home is aged and retains most original features like oak cabinetry and dated fixtures. The listing explicitly states it needs 'TLC' and cosmetic work ('grab a brush'), fitting the criteria for a property that is functional but requires minor updates and repairs to meet modern standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 12197, living area = 2799.
The property offers exceptional lake views from nearly every primary living space, including the kitchen, living room, and primary suite, significantly increasing its market desirability and value.
Built in 2001, the 2,799 sq. ft. home features a contemporary open floor plan with high ceilings, a main-floor guest suite, and a large chef's kitchen with custom cabinetry and granite counters.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
Marketed as a 'diamond in the rough' needing TLC, the property requires immediate investment in paint and minor repairs to reach its full potential.
The $350 monthly association fee represents a significant recurring carrying cost that may impact the overall affordability for some prospective buyers.
Grab a brush and save a bundle. This newer built home, with spectacular waterfront views, is located on a quiet cul-de-sac near the North Gate. It needs a little TLC but is truly a DIAMOND in the rough. Features of this property include: panoramic lake views (from the living room, kitchen, dining room, primary bedroom, bathroom, balconies), great curb appeal, a tile roof, mature landscaping, an open and airy floor plan, a living room with a fireplace, a formal dining room, an upstairs family room, a huge kitchen with custom cabinets & granite counters & stainless steel appliances & a walk in pantry, a primary bedroom with its own fireplace & 4 fixture bathroom & walk in closet, a guest bedroom and full service bathroom downstairs, an indoor laundry room with a laundry chute from upstairs, 2 balconies overlooking a backyard with garden rich soil. There is a 2 car garage with pedestrian access to the home. Other features include: high ceilings, crown molding, recessed lighting, central air conditioning & heating, ceiling fans, and oodles of storage. This property is close to parks, shopping, Costco, restaurants, fast food, equestrian parks & hiking trails, golf courses, sports parks, colleges and universities, and is easily accessible to the 15 and 215 freeways. Some photos have been digitally staged. Please click on the Virtual Tour to see the 3D floor plan.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 61% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,799 | 2,215 | 77% |
| Lot Size | 12,197 | 7,841 | 89% |
| Price | $868.0K | $687.5K | 68% |
| Price per sq ft | $310 | $349 | 34% |
| Built year | 2001 | 1987 | 76% |
| HOA | $350.0 | $350 | 50% |
| Days on market | 13 | 189 | 2% |
Apr 9, 2026
$868,000
Initial Listing
May 8, 1997
$47,500
Public Record