30489 Machado, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 3 bed, 2 bath
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Lake Elsinore, California 92530
This Value-Add Residential Property is listed at $420,000, positioned competitively relative to its $410,297 Fair Market Value. Currently maintaining a Fair Condition Rating, the home benefits from significant capital improvements including a Newer Roof (2018) and a remodeled kitchen with Stainless Steel Appliances. The property stands out for its Garage-to-Bedroom Conversion, Extensive 7-Vehicle Parking, and RV Potential, complemented by a private Covered Patio. Located within the Lake Elsinore Unified district, this asset offers clear upside through cosmetic finishing. It is perfectly suited for Buy-and-Hold Investors or Owner-Occupants seeking a functional, value-add opportunity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 30489 Machado Subject | $420,000* List Price | 3 | 2 | 1,200 | $342 | - |
A 16359 Stevens Street Pending | $519,990 List Price | 3 | 2 | 1,553 | $335 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1983, the property has undergone several updates including a newer roof (2018), granite countertops, and stainless steel appliances. However, it remains in 'Fair' condition as it requires cosmetic finishing such as paint and baseboards, and features dated elements like popcorn ceilings and older fluorescent kitchen lighting. The garage has been partially converted into a bedroom without verified permits, and the overall interior shows a mix of flooring styles and DIY-level maintenance needs.
The property features significant updates including a newer roof (2018), water heater, and remodeled kitchen and bathrooms, reducing the need for immediate major system expenditures.
The home offers exceptional parking capacity with space for up to seven vehicles on concrete, plus a large side yard suitable for a boat or RV storage.
The backyard is well-equipped for entertaining with a covered patio, mature landscaping, and established fruit trees, providing a private and functional outdoor retreat.
The partial conversion of the garage into a third bedroom eliminates indoor vehicle parking and relies on unverified permits, which may complicate financing or future resale.
The interior requires finishing touches such as paint, baseboards, and various DIY repairs, indicating the home is not in fully move-in-ready condition.
The owners have done many flooring, windows, doors, kitchen and bath upgrades inside the home over the years along with a water heater and new roofing around 2018. Lots of brick work in the front and side yard. The exterior of the home has a gray stucco finish with white trim. It was originally a 2 bedroom home but is now a 3 bedroom as a result of enclosing approximately 2/3 of the back of the garage and installing a closet. Tax rolls show it as a 3 bedroom but permits have not been verified. The garage door is still functional and opens up for a storage or small workshop area. Although there is no parking inside the garage, there is a large concrete parking area in front of the garage that can accommodate 3 vehicles AND the large concrete driveway in front of the gate can park 4 vehicles! Large side yard on the left that may be able to accommodate a small boat or RV. The covered patio in the back is ideal for family entertaining, kids and dogs! Easy upkeep yards. LOTS of mature landscaping and fruit trees! The matching Kenmore stainless steel refrigerator, stove, microwave and dishwasher are included in the sale! Overall, it appears that the home mainly needs some paint, baseboards and some other DIY repairs.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 46% |
| Baths | 2.0 | 3.0 | 46% |
| Square foot | 1,200 | 1,924 | 11% |
| Lot Size | 5,227 | 7,405 | 22% |
| Price | $420.0K | $595.0K | 9% |
| Price per sq ft | $350 | $310 | 73% |
| Built year | 1983 | 2004 | 25% |
| HOA | $0 | $0 | 50% |
| Days on market | 28 | 195 | 2% |
Mar 25, 2026
$420,000
Initial Listing
Jul 15, 1997
$56,500
Public Record