• Lake Elsinore

  • $1,995,000

Residential Income Details

Current CAP rate at 5.55% and ProForma CAP at 6.48% with a current NOI of $110,683! Very well priced at $90,681 per unit. This is a great opportunity to own two well maintained and professionally managed multifamily apartment buildings with a total of 22 units within walking distance of the lake and a park. This is a package deal consisting of 2 separate properties with 5 APN' s sold together. The 17586 and 17596 Grand Building has an onsite laundry room with owned machines that both buildings share for additional income. The Grand Apartments consist of 8 units with 7 studios and a single home consisting of a 3 bed/2 + an office. The 32986 Blackwell Apartments located across the street from the Grand Apartments consist of 14 studio units with tile floors and custom paint interiors making for very low turnover costs. Lake Elsinore is perfectly situated for commuters between Orange County, San Diego and the Inland Empire. Also see all the attached financial supplements (actual cash flows and rent rolls).
MLS #OC18003157
Number of Units22
Sale TypeStandard
StatusActive Under Contract
Listing BrokeragePay It Forward Realty
Listing AgentBrad Petersen
Listing Agent BRE #01724042
Garage Spaces0
Area241 - Lake Elsinore West
Address32986 Blackwell
CityLake Elsinore


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Based on information from California Regional Multiple Listing Service, Inc. as of Tuesday, September 18, 2018. 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.