Realkey.ai
RealKey
‪(213) 433-7766‬

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

40135 Festival Road, Murrieta, California 92562 home-pic-0
ACTIVE$875,000$2,496/sqft
Est. Value: $773,878
-11%
AboveEstimate
40135 Festival Road, Murrieta, California 92562
4Beds
3Baths
2,496Sqft
11,326Lot

Price Vs. Estimate

The estimated value ($773,878.17) is $101,121.83 (11%) lower than the list price ($875,000). This property may be overpriced.

Key pros and cons

Top Pros:
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.
Top Cons:
Leased Solar Panels: The solar panels are leased, meaning the buyer will assume a monthly lease payment rather than outright ownership, which may not appeal to all buyers seeking full energy independence.

Compared to the nearby listings

Price:$875.0K vs avg $715.0K (+$160,000)73%
Size:2,496 sqft vs avg 2,350 sqft53%
Price/sqft:$351 vs avg $32463%

More Insights

Built in 1989 (37 years old).
Condition: The property was built in 1989, making it 35 years old. While it benefits from functional updates like a newer A/C unit, tankless water heater, and leased solar panels, the interior, particularly the kitchen and bathrooms, appears largely original or updated with older styles. The kitchen features dated light wood cabinets, older appliances, and fluorescent lighting. The master bathroom has a gold-framed shower and dated vanity lighting, though some wood-look laminate flooring appears to be a more recent update. Overall, the home is functional and maintained, but major cosmetic updates are needed in key areas to align with current standards and styles.
Year Built
1989
Close
-
List price
$875K
Original List price
$875K
Price/Sqft
$351
HOA
-
Days on market
-
Sold On
-
MLS number
SW26010800
Home ConditionFair
Features
Good View: City Lights, Neighborhood
Deck
Patio
ViewCity Lights,Neighborhood

About this home

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!

G
Gloria Escamilla
Listing Agent

Nearby schools

6/10
Avaxat Elementary School
Public,•K-5•0.8mi
6/10
E. Hale Curran Elementary School
Public,•K-5•0.9mi
7/10
Tovashal Elementary School
Public,•K-5•1.0mi
8/10
Rail Ranch Elementary School
Public,•K-5•1.4mi
7/10
Antelope Hills Elementary School
Public,•K-5•1.5mi
4/10
Ronald Reagan Elementary School
Public,•K-6•3.0mi
5/10
Donald Graham Elementary School
Public,•K-6•3.9mi
7/10
Shivela Middle School
Public,•6-8•0.4mi
6/10
Thompson Middle School
Public,•6-8•2.1mi
3/10
David A. Brown Middle School
Public,•6-8•4.4mi
8/10
Murrieta Mesa High School
Public,•9-12•1.1mi
8/10
Murrieta Valley High School
Public,•9-12•2.0mi
5/10
Elsinore High School
Public,•9-12•5.6mi
Condition Rating
Fair
The property was built in 1989, making it 35 years old. While it benefits from functional updates like a newer A/C unit, tankless water heater, and leased solar panels, the interior, particularly the kitchen and bathrooms, appears largely original or updated with older styles. The kitchen features dated light wood cabinets, older appliances, and fluorescent lighting. The master bathroom has a gold-framed shower and dated vanity lighting, though some wood-look laminate flooring appears to be a more recent update. Overall, the home is functional and maintained, but major cosmetic updates are needed in key areas to align with current standards and styles.
Pros & Cons

Pros

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.
Exceptional Workshop & Storage: Features a fully functional, large detached workshop with extensive concrete driveways, covered parking, and two additional sheds with electricity, making it ideal for tradespersons or significant storage needs.
No HOA & Prime Location: The absence of HOA fees combined with close proximity to award-winning schools, shopping, medical facilities, and Interstate 15 offers significant convenience and cost savings.
Energy Efficiency & Modern Comforts: Equipped with a newer oversized A/C unit, tankless water heater, attic fan, and leased solar panels, contributing to enhanced comfort and potentially lower utility expenses.
Enhanced Security Features: Includes roll-up security shutters on all windows and sliding doors, along with wrought-iron gates, providing an added layer of security and peace of mind.
Oversized & Versatile Lot: Situated on an oversized lot (just over ¼-acre) offering ample outdoor space and extensive parking, catering to various lifestyle and vehicle requirements.

Cons

Leased Solar Panels: The solar panels are leased, meaning the buyer will assume a monthly lease payment rather than outright ownership, which may not appeal to all buyers seeking full energy independence.
Potential for Dated Interiors: Built in 1989, and while some systems are updated, the description does not specify comprehensive interior renovations, suggesting parts of the home may reflect its original era and require cosmetic updates.
Niche Market Appeal: The property's strong emphasis on workshop facilities and extensive parking, while a significant asset for specific buyers, might limit its broad market appeal to those not requiring such specialized features.
Browse Properties by State Browse housing market trends by state