32932 Ethlene, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 5 bed, 4 bath

32932 Ethlene, Lake Elsinore, California 92530 home-pic-0
ACTIVE UNDER CONTRACT$399,999$2,600/sqft
32932 Ethlene, Lake Elsinore, California 92530
5Beds
4Baths
2,600Sqft
5,227Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Income Potential / Multi-Generational Living: The property includes two Accessory Dwelling Units (ADUs) with kitchens and bathrooms, offering significant potential for rental income or accommodating multi-generational families.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 2600, other record living area = 466.

Compared to the nearby listings

Price:$400.0K vs avg $586.0K ($-186,024.5)3%
Size:2,600 sqft vs avg 1,888.5 sqft85%
Price/sqft:$154 vs avg $3200%

More Insights

Built in 1932 (94 years old).
Condition: Built in 1932 and explicitly described as a 'Fixer,' this property requires substantial repairs and rehabilitation. The absence of interior photos, especially of kitchens and bathrooms, strongly suggests these areas are in very poor or highly outdated condition, consistent with a property of this age needing significant modernization and system upgrades.
Year Built
1932
Close
-
List price
$400K
Original List price
$400K
Price/Sqft
$154
HOA
-
Days on market
-
Sold On
-
MLS number
SW26004942
Home ConditionPoor
Features
Good View: Mountain(s), Neighborhood
ViewMountain(s), Neighborhood

About this home

Fixer Near the Lake in Lake Elsinore • 2 ADUs • Finished basement • Multiple living spaces Located in Lake Elsinore, approximately five homes from the lake, this property offers multiple living spaces on one parcel. The main residence includes 3 bedrooms, approximately 1,342 sq ft, a finished basement, and an attached garage. Built in 1932, the home features a functional layout with flexible interior areas. In addition to the main home, the property includes a finished ADU of approximately 1,000 sq ft, complete with a bedroom, kitchen, and bathroom. A separate detached studio-style structure is also located in the backyard and includes a kitchen and bathroom, offering additional independent space (buyer to verify permits and allowable uses). The finished basement adds usable interior space suitable for storage, workspace, or additional rooms. The lot configuration allows separation between the main residence and auxiliary units. Conveniently located near the lake, local cafés, and neighborhood stores, with nearby access to parks, recreation areas, and regional routes including Interstate 15. Buyer to verify square footage, permits, and intended use of all structures.

J
Jaime Burlile
Listing Agent

Price History

Date
Event
Price
09/12/00
Sold
$43,000
Condition Rating
Poor

Built in 1932 and explicitly described as a 'Fixer,' this property requires substantial repairs and rehabilitation. The absence of interior photos, especially of kitchens and bathrooms, strongly suggests these areas are in very poor or highly outdated condition, consistent with a property of this age needing significant modernization and system upgrades.
Pros & Cons

Pros

Income Potential / Multi-Generational Living: The property includes two Accessory Dwelling Units (ADUs) with kitchens and bathrooms, offering significant potential for rental income or accommodating multi-generational families.
Prime Lake Proximity & Amenities: Located just five homes from Lake Elsinore, with convenient access to local cafés, stores, parks, recreation areas, and Interstate 15.
Versatile Living Spaces: Features a finished basement and multiple independent living structures, providing flexible options for various uses such as storage, workspace, or additional rooms.
Investment Opportunity: Positioned as a 'fixer' with a competitive list price for a multi-unit property near the lake, presenting a strong value-add opportunity for investors or owner-occupants willing to renovate.
Privacy for Multiple Units: The lot configuration is designed to allow separation between the main residence and auxiliary units, ensuring privacy for all occupants.

Cons

MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 2600, other record living area = 466.
Fixer Condition & Age: Built in 1932 and explicitly described as a 'Fixer,' indicating the property requires substantial renovation, repairs, and modernization.
ADU Permit Verification Required: Buyers are explicitly advised to verify permits and allowable uses for the ADUs, which could lead to unexpected costs or legal complications if units are not fully compliant.
Potential for Outdated Systems: Given its 1932 construction, the property likely features original or older infrastructure (e.g., electrical, plumbing, HVAC) that may require significant upgrades or replacement.
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