33053 Blackwell, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 3 bed, 2 bath
33053 Blackwell
Lake Elsinore, California 92530
Property Price
SUMMARY
Analysis of 33053 Blackwell, Lake Elsinore, California 92530 is currently available with a list price of $599,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. 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 both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1976, this property is functional and currently generates rental income, but it shows signs of age consistent with its nearly 50-year-old structure. While maintained for habitability, the kitchen and bathrooms likely feature outdated styles and older appliances, and the property lacks evidence of a recent comprehensive renovation, fitting the criteria for a well-kept but aged investment asset.
PROSSTRENGTHS & OPPORTUNITIES
- Multiple Income Streams
This versatile property offers three distinct rental opportunities, including a 2-bedroom main unit, a 1-bedroom secondary unit, and a detached 2-car garage rented for storage, maximizing total cash flow potential.
- Low Carrying Costs
The absence of HOA fees and the benefit of low property taxes significantly reduce monthly overhead, ensuring stronger net returns for investors or owner-occupants.
- Flexible Occupancy Options
The layout is ideal for 'house hacking,' allowing an owner to reside in one unit while the other two income streams subsidize the mortgage, or for a pure investor to capitalize on a fully leased asset.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1706, other record living area = 800.
- Aging Infrastructure
Constructed in 1976, the property may require more frequent maintenance or capital expenditures for system upgrades compared to newer multi-family developments.
- Limited Lot Size
With a lot size of only 3,485 square feet supporting multiple units and a detached garage, outdoor space and tenant parking may feel constrained.
About 33053 Blackwell
Great Investment Opportunity with Three Income Streams!Don’t miss this versatile property offering three separate rental income streams. The main residence features 2 bedrooms and 1 bathrooms, along with an additional 1 bedroom, 1 bathroom unit — both currently rented. A detached 2-car garage is also rented separately for storage, maximizing cash flow potential.Perfect for investors looking to keep all units rented, or owner-occupants who want to live in one home while generating income from the other. The property includes a fenced backyard ideal for family BBQs and outdoor entertaining.Enjoy low property taxes and no HOA, keeping expenses minimal and returns strong. A rare opportunity with built-in income!
Property Details
Public Facts
- Property Type
- Duplex
- Year Built
- 1976
- Lot Size
- 3,485 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Lake Elsinore Unified Schools
Lakeland Village School
Grades K-8 • 1.5 mi
Canyon Lake Middle School
Grades 6-8 • 5.5 mi
Lakeside High School
Grades 9-12 • 2.8 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | - | 67% |
| Baths | 2.0 | - | 67% |
| Square foot | 1,706 | 2,130 | 33% |
| Lot Size | 3,485 | 7,405 | 33% |
| Price | $599.0K | $600.0K | 33% |
| Price per sq ft | $351 | $314 | 67% |
| Built year | 1976 | 1976 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 8 | 150 | 33% |
Pricing History
Listed for Sale
Feb 27, 2026
$599,000
Initial Listing