Address
17739 Grand Avenue Lake Elsinore, CA
Price
$ 1,000,000
Property Attributes
  • MLS#IV21202173
  • TypeCommercial
  • CountyRIVERSIDE
  • CityLake Elsinore
  • AreaSouthwest Riverside County
  • Zip92530
  • StyleMixed Use
  • Price$ 1,000,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage3200
  • Lot Size3,920 SqFt
Listing Provided Courtesy Of:
BRAD ALEWINE with COMPASS - 951-347-8832
Data Source:
California Regional MLS (CRMLS) - 25 - CA
Property Description

17739-17741 Grand Ave, Lake Elsinore, CA 92530 (Riverside County unincorporated). ±3,200 SF two-story mixed-use asset, featuring two ±800 SF retail units on the first floor and two ±800 SF 2 Bed-1 Bath apartments. The property’s large ±0.20 AC lot allows for ample separate retail and residential parking, as well as a large shared backyard for its residents. This property represents a terrific value-add opportunity for a potential investor who can lease retail units while enjoying the immediate cash flow from the fully occupied residential units. The subject property benefits from it’s close proximity (walking distance) to Lake Elsinore, a major tourist destination for Southern California offering boat launches, campgrounds, fishing and parks with swimming beaches as well as strong average household incomes (±70,000- ±87,000 within a 1-5 mile radius). The property sits in Lakeland Village, a small community in an unincorporated section of Riverside County and is located between the cities of Lake Elsinore and Wildomar. In recent years, the County of Riverside adopted ordinances to permit commercial cannabis activities within unincorporated areas of Riverside. Under the adopted regulations, 17739-17741 Grand Ave potentially qualifies for multiple uses, including retail, distribution, or cannabis micro-business. The property's potential cannabis uses make it perfect for investors looking for tenants that pay a premium on rent or an operator interested in opening a business in an area with long-term upside potential.

Price History
9/13/2021 Listed $1,000,000

General Features

Business Type Mixed
Listing Agent BRAD ALEWINE - BRE#01104973
Listing Agent State License 01104973
Lot Size Square Feet 3920
MLS Area SRCAR - Southwest Riverside County
Property Sub Type Additional Mixed Use
Property SubType Mixed Use
Property Type Commercial Sale
Special Listing Conditions Standard
Status Active
Terms Cash to New Loan

Interior Features

Laundry Features None

Exterior Features

Lot Features Street Level
Lot Size Acres 0.09
Lot Size Area 3920
Lot Size Source Assessor
Lot Size Units Square Feet
Number of Buildings 1
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 92530

Price
AVG $560K
$1M
Visits
AVG 96
23
Walkscore
AVG 46
36
Data Provided by Walkscore ® not using MLS data

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