405 Lookout, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 1 bed, 1 bath
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Lake Elsinore, California 92530
This Charming Single-Bedroom Residence is a Strong Value Opportunity, listed at $309,888—positioned well below the $337,942 Fair Market Value by 8%. This valuation gap provides $28,054 in Instant Equity for buyers. While maintaining a Condition Rating of 4 with updated flooring and paint, the property offers significant upside through minor TLC. The expansive 8,712 sq. ft. Lot, Mountain Views, and Detached Garage provide rare utility within the Lake Elsinore Unified district. This asset is ideal for Buy-and-Hold Investors or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 405 Lookout Subject | $309,888* List Price | 1 | 1 | 636 | $535 | - |
A 108 S S Chestnut St Sold | $255,000 | 2 | 2 | 598 | $426 | 0.5 mi |
B 1003 W Heald Avenue Sold | $340,000 | 2 | 1 | 760 | $447 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1948, this home has received cosmetic updates including laminate flooring, fresh interior paint, and a refreshed bathroom with tile flooring. However, the kitchen remains dated with older appliances, and the listing explicitly mentions the need for 'TLC.' While functional and move-in ready, the property shows signs of age and requires minor updates to meet modern standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7405, living area = 636.
The property features a generous lot of approximately 8,712 sq. ft., providing ample space for future expansion, an ADU, or extensive outdoor landscaping.
The home boasts upgraded laminate flooring, custom interior paint, and a modernized bathroom with tile flooring, offering a move-in-ready aesthetic despite its vintage.
At just 636 square feet with a single bedroom, the property has a limited buyer pool and may feel cramped for those requiring a home office or guest space.
Built in 1948 and noted as needing 'TLC,' the home likely requires additional investment in repairs or modernization to address its age and condition.
Absolutely charming Lake Elsinore single-bedroom, single-bath home located in an established community and full of potential. Situated on a spacious approximately 8,712 sq. ft. lot, the property offers plenty of room for landscaping, outdoor living, or future personalization of the large yard. Inside, the home features upgraded laminate flooring in the living room and bedroom, along with custom interior paint and ceiling fans throughout, adding comfort and character. The functional kitchen includes a freestanding gas stove, stainless steel sink, and opens to a dining area or breakfast nook on one side, while providing access to the indoor laundry area on the other. The spacious bedroom includes mirrored closets, and the upgraded bathroom features a pedestal sink, shower-in-tub combination, and tile flooring. The rear yard offers a concrete patio and chain-link fenced area, perfect for outdoor enjoyment. A detached single-car garage with an additional storage area provides extra functionality. While the home has great features and character, it could benefit from a little TLC, making it a fantastic opportunity for buyers looking to add their personal touch or for investors seeking potential. Conveniently located with easy access to freeways, shopping, restaurants, and entertainment, and just a short drive to Lake Elsinore for recreation and outdoor activities.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 4.0 | 1% |
| Baths | 1.0 | 3.0 | 6% |
| Square foot | 636 | 1,924 | 1% |
| Lot Size | 7,405 | 7,405 | 50% |
| Price | $309.9K | $595.0K | 3% |
| Price per sq ft | $487 | $310 | 96% |
| Built year | 1948 | 2004 | 8% |
| HOA | $0 | $0 | 50% |
| Days on market | 49 | 195 | 3% |
Mar 4, 2026
$309,888
Initial Listing
Oct 11, 2019
$229,000
Public Record
Sep 1, 2017
$160,000
Public Record
Jun 9, 2014
$138,000
Public Record
Jan 29, 1999
$30,000
Public Record
Aug 28, 1996
$41,000
Public Record