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33115 Evergreen Sreet, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 5 bed, 3 bath

33115 Evergreen Sreet, Lake Elsinore, California 92530 home-pic-0
ACTIVE$985,000
33115 Evergreen Sreet, Lake Elsinore, California 92530
5Beds
3Baths
2,180Sqft
14,810Lot
Year Built
1980
Close
-
List price
$985K
Original List price
$985K
Price/Sqft
$452
HOA
-
Days on market
-
Sold On
-
MLS number
PTP2509178
Home ConditionFair
Features
Good View: Bluff, Hills, Lake
Patio
ViewBluff, Hills, Lake

About this home

We found 3 Cons,5 Pros. Rank: price - $985.0K(67th), sqft - 2180(50th), beds - 5(83th), baths - 3(83th).

Exceptional Triplex Investment Opportunity Looking for a Smart Investment! This well-kept triplex is an ideal choice for prospective owners eager to generate rental income! Each unit offers: Two generous bedrooms, 1 bathroom. Separate single-car garage with laundry connections. Expansive private yards for relaxation and recreation. Central heating and air conditioning. Built to resemble single-family homes for a more homely atmosphere. Situated near the lake and Park, this property attracts tenants seeking tranquility with easy access to nature. Two units are currently leased, with one available for viewing Ready to be leased for instant revenue!

Price History

Date
Event
Price
12/16/25
Listing
$985,000
06/29/23
Sold
$899,000
10/15/18
Sold
$525,000
Condition Rating
Fair
Built in 1980, this triplex is well-maintained and functional, featuring central heating and air conditioning. However, the kitchen and bathrooms are significantly outdated, showcasing original or very old cabinets, laminate countertops, older white appliances, and dated fixtures and tiling. While some areas have newer vinyl plank flooring, the property requires minor to moderate updates, particularly in the kitchen and bathrooms, to align with current styles and buyer expectations.
Pros & Cons

Pros

Strong Investment Opportunity: Explicitly marketed as an 'Exceptional Triplex Investment Opportunity' with clear potential for generating rental income.
Immediate Revenue Stream: Two out of three units are currently leased, providing instant cash flow for a new owner upon acquisition.
Desirable Unit Features: Each unit offers 2 bedrooms, 1 bathroom, a private single-car garage with laundry connections, and expansive private yards, enhancing tenant appeal and retention.
Modern Comforts: All units are equipped with central heating and air conditioning, a significant amenity for tenant comfort and satisfaction.
Attractive Location: Situated near the lake and a park, offering tenants tranquility and easy access to nature, complemented by potential bluff, hills, and lake views.

Cons

Property Age: Built in 1980, the property is over 40 years old, which may lead to increased maintenance costs or the need for future capital expenditures to keep it updated and competitive.
Recent Price Appreciation: The current list price of $985,000 represents a significant increase from its last sale price of $899,000 in June 2023, potentially limiting immediate equity growth or requiring strong market justification.
Partial Vacancy: One unit is currently vacant, requiring the new owner to actively market and secure a tenant to maximize rental income, introducing a short-term vacancy risk.

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