33067 Blackwell, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 3 bed, 2 bath
Loading property details...
Lake Elsinore, California 92530
This Multi-Unit Income Property serves as a high-utilization Asset listed at $599,000, with a $512,518 Fair Market Value. The property generates Three Separate Income Streams via two residential units and a rented garage, maximizing cash flow potential. Featuring a Fair Condition Rating, the 1947-built structures sit on a massive 11,326 Sqft Lot offering significant Development Potential. Located within the Lake Elsinore Unified district with low carrying costs, this is a strategic Value-Add acquisition for Buy-and-Hold Investors or Portfolio Managers seeking immediate rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 33067 Blackwell Subject | $599,000* List Price | 3 | 2 | 1,706 | $298 | - |
A 33100 Turner Street Sold | $530,000 | 3 | 2 | 1,285 | $412 | 0.7 mi |
B 18225 Brightman Avenue Sold | $510,000 | 3 | 3 | 2,000 | $255 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1947, this multi-unit property is functional and currently occupied by tenants, indicating it is habitable and maintained. However, the age of the structures and the lack of mention regarding recent major renovations suggest that the kitchens, bathrooms, and major systems are likely dated and show signs of wear consistent with a 70-year-old rental property. It meets the 'fair' criteria as an aged property maintained through regular upkeep but requiring minor updates to meet modern standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11326, living area = 1706.
The property offers three distinct rental opportunities, including two separate homes and a detached garage, providing immediate cash flow and high investment versatility.
Comprising three separate lots, this offering provides significant future value through potential development or the flexibility to sell off individual parcels.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =11326, other record lot size in square feet = 4356.
Built in 1947, the structures may require more frequent maintenance or capital improvements compared to newer builds to remain competitive in the rental market.
The local school ratings are relatively low, particularly the middle school at a 3/10, which may limit the appeal for long-term family tenants or owner-occupants.
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!
No exterior & parking available.
Grades K-8 • 1.5 mi
Grades 6-8 • 5.5 mi
Grades 9-12 • 2.8 mi
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 | 1,706 | 1,924 | 36% |
| Lot Size | 11,326 | 7,510 | 83% |
| Price | $599.0K | $595.0K | 52% |
| Price per sq ft | $351 | $310 | 73% |
| Built year | 1947 | 2004 | 8% |
| HOA | $0 | $0 | 50% |
| Days on market | 59 | 195 | 6% |
Feb 22, 2026
$599,000
Initial Listing