33070 Lorimer, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 4 bed, 2 bath
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Lake Elsinore, California 92530
This Value-Add Residential Asset represents a High-Potential Investment Opportunity, listed at $340,000—positioned well below the $356,005 Fair Market Value by 4%. This strategic entry point offers $16,005 in Instant Equity. Currently holding a Condition Rating of 4, the property serves as a creative canvas requiring modernization to maximize ROI. Highlights include Mountain Views, no HOA fees, and proximity to Lake Elsinore recreation. This is a high-upside acquisition for Fix-and-Flip Investors or first-time buyers looking to build sweat equity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 33070 Lorimer Subject | $340,000* List Price | 4 | 2 | 1,157 | $308 | - |
A 17582 Brightman Avenue Sold | $412,500 | 3 | 2 | 1,364 | $302 | 0.5 mi |
B 33272 Adelfa Street Sold | $420,000 | 2 | 2 | 1,317 | $319 | 0.8 mi |
C 17616 Sutherland Active | $425,000 List Price | 2 | 2 | 1,152 | $369 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1980, the property is described as needing 'TLC' and serves as a 'creative canvas' for renovation. Interior photos reveal dated ceramic tile flooring, older light fixtures, and popcorn ceilings, while the exterior shows deferred maintenance in the landscaping. While the home appears functional and livable, it lacks modern updates to the kitchen and living areas, making it a typical candidate for a cosmetic refresh to build equity.
The property is ideally situated within walking distance of Lake Elsinore and minutes from the Cleveland National Forest, offering excellent outdoor lifestyle opportunities and a scenic commute to Orange County via Ortega Highway.
With no HOA fees and low taxes, this home offers significant long-term financial savings and greater flexibility for first-time buyers or investors compared to neighboring communities.
Priced competitively and featuring a 4-bedroom layout, this 'creative canvas' provides a strong opportunity to build immediate sweat equity through modern updates and renovations.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 2.
The property is noted as needing 'TLC,' suggesting deferred maintenance or dated interiors that will require an upfront capital investment for repairs and modernization.
Fitting four bedrooms into 1,157 square feet results in a high density that likely compromises individual room sizes and living area spaciousness compared to typical 4-bedroom configurations.
## Charming Opportunity Near Lake Elsinore **Discover the perfect blend of potential and location!** This delightful 4-bedroom, 2-bathroom home offers a fantastic entry point for first-time buyers looking to build equity or savvy investors seeking a high-potential addition to their portfolio. ### Home Highlights: * **Spacious Layout:** Featuring 4 comfortable bedrooms and 2 full baths, there is plenty of room to grow. * **Creative Canvas:** While the home needs a little TLC, it is a "very cute" property just waiting for your personal touch and modern updates. * **Freedom & Savings:** Enjoy the financial benefits of **low taxes** and **no HOA fees**, giving you more flexibility with your investment. ### Exceptional Location: Nestled in a prime spot for outdoor enthusiasts and commuters alike, you are perfectly positioned to enjoy the best of the region: * **Recreation:** Within easy walking distance to the shores of **Lake Elsinore**. * **Nature:** Just minutes away from the hiking and scenic beauty of the **Elsinore Mountains** and the **Cleveland National Forest**. * **Commuting:** Located close to **Ortega Hwy**, providing a straightforward and scenic route into Orange County. * **Convenience:** Situated near local schools and popular shopping centers, ensuring everything you need is within reach. Don’t miss out on this incredible opportunity to own a piece of Southern California real estate at a competitive price point. Whether you are looking to renovate and flip or create your dream starter home, the bones and the location are all here!
No exterior & parking available.
Grades K-8 • 1.0 mi
Grades 6-8 • 5.2 mi
Grades 9-12 • 3.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 2.0 | 3.0 | 46% |
| Square foot | 1,157 | 1,924 | 9% |
| Lot Size | 3,920 | 7,405 | 11% |
| Price | $340.0K | $595.0K | 3% |
| Price per sq ft | $294 | $309 | 44% |
| Built year | 1980 | 2004 | 19% |
| HOA | $0 | $0 | 50% |
| Days on market | 12 | 195 | 2% |
Apr 10, 2026
$340,000
Initial Listing
Jul 1, 2021
$400,000
Public Record
Jan 26, 2018
$225,000
Public Record
Oct 30, 2000
$94,500
Public Record
Oct 30, 2000
$74,500
Public Record