31848 Railroad Canyon Rd, Canyon Lake, California 92587, Canyon Lake, 92587 - 2 bed, 2 bath
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Canyon Lake, California 92587
This Condominium is a High-Potential Investment Opportunity, listed at $304,950—positioned well below the $272,877 Fair Market Value by -11%. While the property carries a Condition Rating of 4, it offers a versatile floor plan with an optional third bedroom. The inclusion of Seller Financing provides a unique financial advantage in the current market. With access to extensive resort-style amenities, this property is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a value-add project in a gated community.
Affordable Canyon Lake condo with seller financing available. 2-bed, 2-bath with office, pool views, and resort amenities. Perfect value-add opportunity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 31848 Railroad Canyon Rd Subject | $304,950* List Price | 2 | 2 | 1,312 | $240 | - |
A 31864 Railroad Canyon 3 Pending | $388,500 List Price | 2 | 3 | 1,360 | $286 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1976, the property is nearly 50 years old and shows significant signs of age despite being well-maintained. While the living area has updated laminate flooring, the kitchen and bathrooms are dated, featuring older cabinetry and a yellowed fiberglass tub surround. It is functional and move-in ready but requires modernization to meet current market standards.
The availability of seller financing at below-market interest rates offers a significant competitive advantage, providing buyers with more affordable monthly payments than traditional lending.
Situated in a premier gated community, residents gain access to a private lake, 18-hole golf course, equestrian center, and multiple sports courts, offering a high-value resort lifestyle.
The 1,312 sq. ft. layout includes a flexible downstairs office or optional third bedroom with a full bathroom, making it ideal for guests, home offices, or multi-generational living.
Built in 1976, the condominium may require updates to its original infrastructure or cosmetic modernizations to meet the expectations of buyers seeking contemporary finishes.
The $362 monthly association fee, while covering some utilities, represents a permanent carrying cost that must be factored into the buyer's long-term debt-to-income ratio.
Resort-Style Living in the Heart of Canyon Lake! Welcome home to this beautifully maintained 1,312 sq. ft. Canyon Lake condominium, offering 2 bedrooms, 1¾ bathrooms, a versatile office/optional 3rd bedroom, and a one-car garage in one of Southern California’s most sought-after gated lake communities. Step inside to a spacious and inviting living room and kitchen combination, perfect for entertaining and everyday living. The kitchen features a convenient eating bar with ample space for casual dining and gathering with family and friends. The main level offers exceptional flexibility with an office or optional third bedroom, along with a highly desirable downstairs bathroom featuring a walk-in shower, ideal for guests or multi-generational living. Upstairs, you'll find the private primary suite complete with a roomy walk-in closet, convenient laundry room, and included washer and dryer. Step out onto your private primary bedroom balcony and enjoy relaxing evenings overlooking the beautiful community pool area. Association dues include water, trash service, and additional community services, providing added value and convenience. Living in Canyon Lake means enjoying a true resort lifestyle with access to an incredible array of amenities, including a private lake for boating, waterskiing, wakeboarding, fishing, paddleboarding, and kayaking; an 18-hole golf course; multiple parks and beaches; swimming pools; pickleball and tennis courts; an equestrian center; campground; baseball fields; clubhouse; restaurants; community events; scenic walking areas; and a dog park for your four-legged family members. The gated community offers year-round recreation and activities for residents of all ages. Conveniently located near schools, shopping, dining, and freeway access, this home offers the perfect combination of comfort, convenience, and the Canyon Lake lifestyle. Don't miss this opportunity to own an affordable piece of paradise in Canyon Lake! Seller financing is available at below-market interest rates, creating a unique opportunity for qualified buyers to enjoy more favorable financing terms than many traditional lending options. Contact listing agent for details.........
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,312 | - |
| Lot Size | - | - |
| Price | $304.9K | $403.2K |
| Price per sq ft | $232 | $391 |
| Built year | 1976 | 0 |
| HOA | $362.0 | $0 |
| Days on market | 49 | 150 |
Jun 3, 2026
$304,950
Initial Listing
Jun 23, 2009
$52,000
Public Record
Jul 7, 2005
$214,500
Public Record
Dec 7, 2001
$88,000
Public Record
Nov 10, 1999
$69,000
Public Record
Oct 27, 1995
$63,000
Public Record