32995 Oleander, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 1 bed, 1 bath
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Lake Elsinore, California 92530
Analysis of 32995 Oleander, Lake Elsinore, California 92530 is currently available with a list price of $229,000. 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.
Built in 1948 (76 years old) with no mentioned renovations, the property is described as a 'blank canvas' needing to be 're-imagined,' indicating that the kitchen, bath, and major systems require a full rehab.
The property includes exclusive community lake access and private lake rights, providing a unique recreational lifestyle benefit that adds significant value and appeal in the Lake Elsinore market.
Marketed as a 'blank canvas' with 'plenty of upside,' this property offers a prime opportunity for investors or flippers to build substantial equity through a custom renovation.
Priced at $249,000, this residence represents a rare and accessible entry-level price point for a single-family home in Southern California, making it attractive to budget-conscious buyers.
At only 440 square feet, the living space is exceptionally small, which may limit the property's functionality and appeal to a narrower segment of the buyer pool.
The 1948 structure is described as an opportunity to 're-imagine,' indicating that the home likely requires a full modernization and substantial capital investment to be move-in ready.
Opportunity to re-imagine this 1-bedroom, 1-bath home with private community lake access. Offering a compact layout, the property presents a blank canvas for its next owner with great potential. The location provides easy access, and the private lake rights add a unique feature to the property. A chance to bring new life to a property with plenty of upside.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 4.0 | 1% |
| Baths | 1.0 | 3.0 | 8% |
| Square foot | 440 | 1,920 | 0% |
| Lot Size | 4,356 | 6,970 | 15% |
| Price | $229.0K | $595.0K | 1% |
| Price per sq ft | $520 | $307 | 99% |
| Built year | 1948 | 2002 | 9% |
| HOA | $100.0 | $0 | 58% |
| Days on market | 45 | 159 | 4% |
May 16, 2026
$229,000
$249,000
-8% Price Drop
Initial Listing
Apr 30, 2026
$249,000
Initial Listing