- 3 Beds
- 3 Baths
- .43 Acres
- 101 DOM
120 W Heald
Rare opportunity to acquire a stabilized 14-unit multifamily asset in a prime Lake Elsinore location near the lake and within walking distance to downtown, dining, and shopping. The property features a desirable unit mix of four studios, six 1-bed/1-bath units, and four 2-bed/1-bath units, all currently tenant occupied and generating immediate income. Utilities are efficiently structured with separate gas and electric meters for each unit (14 total) and one shared water meter, helping reduce owner expenses. Situated on a large 18,730 sq ft lot across two APNs (374-173-002 & 374-173-003). No garage parking. Strong rental demand and consistent occupancy provide stable cash flow, with clear upside potential through rent increases. Recent capital improvements include a new roof, making this an excellent opportunity for investors seeking a value-add or long-term hold in a growing Inland Empire market with strong tenant appeal.
Essential Information
- MLS® #IV26024597
- Price$2,050,000
- Bedrooms3
- Bathrooms3.00
- Acres0.43
- Year Built1923
- TypeResidential Income
- Sub-TypeApartment
- StatusActive Under Contract
Community Information
- Address120 W Heald
- CityLake Elsinore
- CountyRiverside
- Zip Code92530
Area
SRCAR - Southwest Riverside County
Amenities
- ParkingOn Street
- GaragesOn Street
- PoolNone
Interior
- FireplacesNone
- # of Stories1
- StoriesOne
Exterior
- Lot DescriptionElevenToFifteenUnitsAcre
- RoofShingle
Additional Information
- Date ListedFebruary 2nd, 2026
- Days on Market101
Listing Details
- AgentSusana Franco
- OfficeGOLDEN EAGLE PROPERTIES
Price Change History for 120 W Heald, Lake Elsinore, (MLS® #IV26024597)
| Date | Details | Change |
|---|---|---|
| Status Changed from Active to Active Under Contract | – | |
| Price Reduced from $2,100,000 to $2,050,000 | ||
| Price Reduced from $2,200,000 to $2,100,000 |
Susana Franco, GOLDEN EAGLE PROPERTIES.
Based on information from California Regional Multiple Listing Service, Inc. as of May 14th, 2026 at 2:20am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.