40135 Festival Road, Murrieta, California 92562, Murrieta, 92562 - 4 bed, 3 bath

40135 Festival Road, Murrieta, California 92562 home-pic-0

40135 Festival Road

Murrieta, California 92562

ACTIVE
CONDITION: FAIR
4Beds
3Baths
2,496Sq Ft
11,326Lot Size

Property Price

LIST PRICE$725,000
EST. MARKET VALUE
$741,876

SUMMARY

Analysis of 40135 Festival Road, Murrieta, California 92562 reveals a Fairly Priced Property with a current list price of $725,000  aligned with the estimated $741,876 Fair Market Value. This represents a stable investment opportunity at market rate. 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 Murrieta 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.

Estimated Market Value

$741,876
Based on Realkey algorithm analyzing recent comparable sales in Murrieta.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
40135 Festival Road
Subject
$725,000*
List Price
432,496$297-
A
40254 40254 Via Sonoro
Sold
$687,000432,086$3290.6 mi
B
24490 Avenida Arconte
Sold
$656,320422,427$2700.3 mi
C
24249 Saradella Court
Sold
$650,000431,923$3380.2 mi
D
24471 Saradella Court
Sold
$700,000431,923$3640.5 mi
E
39822 Barcelona
Sold
$565,000331,716$3290.3 mi
F
40236 Via Sonoro
Sold
$715,000432,424$2950.5 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Fair
TeardownExcellent

Property is moderate renovation needed.

Built in 1989 and offered for the first time on the market, the property is well-maintained but shows signs of being aesthetically outdated. While it features excellent functional upgrades such as a newer oversized A/C unit, tankless water heater, and a detached workshop, the interior finishes, kitchen, and bathrooms likely require cosmetic modernization to align with current trends. It meets the 'fair' criteria as a 35+ year old home with functional systems but original styling.

PROSSTRENGTHS & OPPORTUNITIES

  • High Available Lot Utilization

    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 = 2496.

  • Versatile Detached Workshop

    The property features a large, fully functional detached workshop and additional powered sheds, providing an exceptional and rare workspace for tradespeople, hobbyists, or significant equipment storage.

  • Expansive Lot with No HOA

    Situated on an oversized quarter-acre lot with extensive concrete driveways and no HOA restrictions, offering maximum flexibility for RV parking and outdoor utility without monthly fees.

CONSRISKS & DEFICIENCIES

  • Leased Solar Panels

    The solar system is leased rather than owned, which requires the buyer to assume a long-term financial contract and may impact the overall financing process.

  • Potential for Cosmetic Updates

    Being on the market for the first time since 1989, the interior may require modernization and aesthetic upgrades to align with contemporary buyer preferences.

About 40135 Festival Road

HUGE PRICE ADJUSTMENT! FIRST TIME ON THE MARKET! Welcome to this extremely unique property situated on an oversized lot in the heart of central Murrieta. This two-story home features 4 bedrooms and 2.25 bathrooms and offers an exceptional blend of residential comfort and work-from-home versatility. A standout feature is the fully functional, large detached workshop, ideal for plumbers, electricians, carpenters, or any tradesperson needing ample space for multiple vehicles, equipment, and storage. Set on just over a ¼-acre, the property boasts extensive concrete driveways with covered parking areas, providing excellent protection for vehicles, tools, and supplies. Two additional sheds with electricity offer even more flexibility and potential uses. The home is well-equipped with roll-up security shutters on all windows and sliding doors, wrought-iron gates, a newer oversized A/C unit, tankless water heater, attic fan, and leased solar panels. To finish it off, no HOA, close proximity to award winning schools, shopping, banking, medical facilities and Interstate 15 should check all the boxes for everyone looking for a great home. This is a rare opportunity to own a truly one-of-a-kind property with endless possibilities. Schedule your private showing today—this golden opportunity won’t last!

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1989
Lot Size
11,326 Sq. Ft.

Interior

Total Bedrooms
4
Total Bathrooms
3 (3 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Murrieta Unified Schools

Avaxat Elementary School

Grades K-5 • 0.8 mi

6/10

E. Hale Curran Elementary School

Grades K-5 • 0.9 mi

6/10

Tovashal Elementary School

Grades K-5 • 1.0 mi

7/10

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds4.04.0
50%
Baths3.03.0
50%
Square foot2,4962,450
51%
Lot Size11,3267,840
74%
Price$725.0K$715.0K
53%
Price per sq ft$290$316
34%
Built year19891997
29%
HOA$0$0
50%
Days on market51183
5%

Pricing History

Listed for Sale

Mar 2, 2026

$725,000

$775,000

-6% Price Drop

Initial Listing

Price Change

Feb 23, 2026

$775,000

$875,000

-11% Price Drop

Initial Listing

Price Change

Jan 15, 2026

$875,000

Initial Listing

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