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

40135 Festival Road
Murrieta, California 92562
Property Price
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
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 40135 Festival Road Subject | $725,000* List Price | 4 | 3 | 2,496 | $297 | - |
A 40254 40254 Via Sonoro Sold | $687,000 | 4 | 3 | 2,086 | $329 | 0.6 mi |
B 24490 Avenida Arconte Sold | $656,320 | 4 | 2 | 2,427 | $270 | 0.3 mi |
C 24249 Saradella Court Sold | $650,000 | 4 | 3 | 1,923 | $338 | 0.2 mi |
D 24471 Saradella Court Sold | $700,000 | 4 | 3 | 1,923 | $364 | 0.5 mi |
E 39822 Barcelona Sold | $565,000 | 3 | 3 | 1,716 | $329 | 0.3 mi |
F 40236 Via Sonoro Sold | $715,000 | 4 | 3 | 2,424 | $295 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
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and offered for the first time on the market, the property is well-maintained but shows signs of being aesthetically outdated.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
E. Hale Curran Elementary School
Grades K-5 • 0.9 mi
Tovashal Elementary School
Grades K-5 • 1.0 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,496 | 2,450 | 51% |
| Lot Size | 11,326 | 7,840 | 74% |
| Price | $725.0K | $715.0K | 53% |
| Price per sq ft | $290 | $316 | 34% |
| Built year | 1989 | 1997 | 29% |
| HOA | $0 | $0 | 50% |
| Days on market | 51 | 183 | 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


































