415 N Main, Lake Elsinore, California 92530, Lake Elsinore, 92530 - bed, bath

415 N Main, Lake Elsinore, California 92530 home-pic-0
ACTIVE$1,400,000
415 N Main, Lake Elsinore, California 92530
0Bed
0Bath
3,829Sqft
13,504Lot
Year Built
2024
Close
-
List price
$1.4M
Original List price
$1.4M
Price/Sqft
$366
HOA
-
Days on market
-
Sold On
-
MLS number
SW25277146
Home ConditionExcellent
Features
Good View:
Deck
View-

About this home

We found 4 Cons,5 Pros. Rank: price - $1.40M(83th), sqft - 3829(67th), beds - undefined(50th), baths - undefined(50th).

Exceptional 4-unit multifamily property (NEW CONSTRUCTION encopassing 2 diffrent and continious parcels) offering stable tenants and income, strong rental demand (when vacancies occur), and long-term growth potential. This new and well-maintained asset features a mix of spacious units, solid tenant history, and consistent cash flow, making it an excellent addition to any investment portfolio. Positioned in a desirable area with access to major amenities and transportation, the property offers upside through rent optimization and strategic improvements. With its reliable performance and very low-vacancy track record, these buildings are perfectly suited for 1031 exchange buyers seeking a secure a replacement property. Investors will appreciate the steady NOI, professional management options, and long-term value in a high-demand rental market. The property encompases a newly constructed two-story, four-unit residential building designed with modern comfort, efficiency, and style in mind. Each unit features an open-concept layout with abundant natural light, and contemporary finishes throughout. The building includes two units on the ground floor and two units on the second level, each offering private entrances for added convenience and privacy. Thoughtfully crafted with durable materials and energy-efficient systems, the property boasts sleek kitchens with quality cabinetry, spacious living areas, well-appointed bedrooms, indoor laundry area, and a stylish bathroom. Exterior highlights include clean architectural lines, fresh landscaping, and parking spaces for residents. A solid investment with upside for buyers looking to add value and capitalize on a classic multifamily asset in a desirable, well-positioned area.

Price History

Date
Event
Price
12/16/25
Listing
$1,400,000
05/12/21
Sold
$100,000
01/26/12
Sold
$14,000
07/25/06
Sold
$130,000
01/15/03
Sold
$17,500
Condition Rating
Excellent

This property is brand new, built in 2024, and explicitly described as 'NEW CONSTRUCTION.' The images confirm modern, contemporary finishes throughout, including sleek kitchens with white shaker cabinetry and light countertops, new laminate/LVP flooring, and stylish bathrooms with new vanities and tile surrounds. The presence of mini-split AC units and solar panels indicates modern, energy-efficient systems. All components appear new or virtually new, meeting current quality standards with no deferred maintenance.
Pros & Cons

Pros

New Construction (2024): Built in 2024, this property offers modern design, energy-efficient systems, and minimal immediate maintenance concerns, appealing to both tenants and investors.
Strong Income & Low Vacancy: The property boasts stable tenants, consistent cash flow, and a very low-vacancy track record within a high-demand rental market, ensuring reliable income for investors.
Multifamily Investment (Quadruplex): As a 4-unit multifamily property, it provides diversified income streams and is explicitly positioned as an excellent asset for investment portfolios, including 1031 exchange buyers.
Modern & Tenant-Appealing Features: Units feature modern comfort, efficiency, and style with open-concept layouts, abundant natural light, contemporary finishes, sleek kitchens, and indoor laundry areas, enhancing tenant satisfaction and retention.
Growth Potential & Value Add: The property offers long-term growth potential and upside through rent optimization and strategic improvements, allowing investors to enhance returns over time.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =13504, other record lot size in square feet = 9147.
Lack of Specific Unit Details: The description is general regarding unit specifics, lacking details on individual bedroom/bathroom counts and square footage for each of the four units, which is vital for a comprehensive investment analysis.
Unspecified Cooling System: While 'energy-efficient systems' are mentioned, the absence of explicit confirmation of air conditioning could be a concern for tenant comfort and marketability, especially in Lake Elsinore's climate.
Implied Rent Optimization Required: The phrase 'upside through rent optimization' suggests that current rental income may not be fully maximized, potentially requiring active management and rent adjustments by the new owner to achieve peak returns.

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