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32989 Macy St, Lake Elsinore, CA, 92530

$850,000

Home List Price

$10,000*

Closing Credit

12 Bedrooms
8 Full Baths
4,200 SqFt
$202/SqFt
Multi

Location

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32989 Macy St, Lake Elsinore$850,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeQuadruplex
Garage8 spaces
Year Built1941
HeatingCentral
CoolingNone
FireplaceNone
ViewHills, Lake
MLS #RS24137104
Lot Size0.26 Acres
StatusActive

About 32989 Macy St

Welcome to 32989 Macy Street, a prime investment opportunity in Lake Elsinore, CA. This 4-plex features a total of 4,194 sqft of living space, divided into four units with the following sizes: Unit 1 - 838 sqft, Unit 2 - 1083 sqft, Unit 3 - 1182 sqft, and Unit 4 - 1091 sqft. Priced at $850,000 for a cash purchase, this property needs the next step of work to transform it into a top-notch, lake-view property with significant rental income potential. The lot is 11,326 sqft and is located in the R-3 High-Density Residential District, allowing for multiple-family residential projects at densities of up to 24 dwellings per net acre. This property offers beautiful views of Lake Elsinore and the surrounding Ortega Mountains. Plans and permits have been paid for, and owners will begin updates once permits are in hand. Do the maths on price / per sqft, and you will realize that this is the best investment opportunity in the area. Based on the average price per sqft of comparable properties, the current property value is way higher than what it's offered right now. Potential buyers are encouraged to do their calculations and realize the incredible investment potential. Located close to numerous recreational activities, the property is near Lake Elsinore Beachfront Park, Lake Elsinore Casino, and Diamond Stadium. Shopping and dining options are plentiful in nearby downtown Lake Elsinore. Additionally, the property is surrounded by the scenic Ortega Mountains and Cleveland National Forest, perfect for outdoor enthusiasts. The rental income potential for this property is substantial. Based on comparable rentals in the area, Unit 1 (838 sqft) can command approximately $2,200 per month, Unit 2 (1083 sqft) roughly $2,800 per month, Unit 3 (1182 sqft) approximately $3,000 per month, and Unit 4 (1091 sqft) roughly $2,850 per month. This makes it attractive for both long-term and short-term rentals. This property presents a fantastic opportunity for investors looking to add value through renovation in a rapidly growing area. Purchase it as is and carry on the work to reap great rewards. Enjoy the vibrant community and scenic beauty of Lake Elsinore. Don't miss out on this incredible investment opportunity—Act Now!

Property Details

Property Features

Property Information:

  • Year Built: 1941
  • Stories: 1
  • Living Area: 4,200 SqFt

Listing Office:

  • Office Name: Nanda Realty Inc.
  • Office Phone: (619) 806-2632
  • Listing Agent: Varun Nanda

Interior Features

Interior Information:

  • Interior: All Bedrooms Down
  • Fireplace: None

Bedroom and Bathroom Information:

  • Full Bathrooms: 8
  • Total Bedroom Count: 12

Exterior Features

Exterior Information:

  • Private Pool: No
  • View: Hills, Lake

Parking Information:

  • Garage Space: 8 spaces
  • Attached Garage: No

Lot Features

Lot Information:

  • Lot: Level, Rectangular Lot
  • Lot Size: 0.26 Acres

Utilities

Utilities Information:

  • Heating: Central
  • Cooling: None

School Info

Assigned Schools Information:

  • Lakeside High School, Public District Grades 9-12
  • Lakeland Village, Public District Grades KG-8

Other

Directions Information:

  • Directions: From the I-15 Freeway, take the Central Avenue exit and head west, turn left onto Collier Avenue, then right onto Riverside Drive, and finally left onto Macy Street. The property is located at 32989 Macy Street on your left.

Price Information

Listing Price Info

Price Summary:

  • List Price: $850,000
  • Price Per SqFt: $202/SqFt

Tax Information:

  • Annual Amount: $4,403
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Lake Elsinore, CA.

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Lake Elsinore, CA

City

Med. Sold Price

$584.4K

Med. Price/SqFt

$294

Avg. Days On Market

29

# of Sold Homes

68

32989 Macy St vs Lake Elsinore

50 DAYS ON ROCKET

+21 Days

$850,000

+$265.5K More

$202/SqFt

-$93 Less

KEY TAKEAWAY

This property is $265.5K more than the Median Sold Price and $93/SqFt less than other homes in Lake Elsinore, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #RS24137104

Listing Office:

  • Office Name: Nanda Realty Inc.
  • Office Phone: (619) 806-2632
  • Listing Agent: Varun Nanda

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 9/7/2024, 7:20:51 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

May 23, 2008Home Sold
$630,000
May 15, 2007Home Sold
$649,000
Feb 27, 2003Home Sold
$135,000
Oct 29, 2002Home Sold
$153,410
May 27, 1998Home Sold
$16,500

Tax History

YEARPROP. TAXASSESSMENT
2021$4,403$418,635
2020$4,402$414,343
2018$4,236$398,255
2017$4,003$390,447

History based on county public records data.

Payment Calculator

$4,310

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,615

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Middle School

school-card-donut-1086846
3
/10

  • Lakeland Village

  • 18730 Grand Ave

  • 3.93 miles

  • Public District Grades KG-8

High School

school-card-donut-1086847
5
/10

  • Lakeside High School

  • 32593 Riverside Dr

  • 0.61 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $31,930. The most common annual income of people living in Lake Elsinore, CA is less than $35k. Residents typically live in single, no kids family. Typical level of education for residents in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›California›Riverside County›Lake Elsinore›92530›32989 Macy St

This home is located at 32989 Macy St in Lake Elsinore, CA and zip code 92530 in the Lake Edge neighborhood. This 4,200 square foot home, which was built in 1941, sits on a 0.26 acre lot. Features: 12 bedrooms, 8 bathrooms. It has been listed on Rocket Homes since July 19, 2024 and is currently priced at $850,000.

In August 2024 more than 36 listings in Lake Elsinore, CA were sold above the asking price. During the same period more than 18 listings were sold at asking price, while more than 14 were sold below. The inventory of homes for sale in Lake Elsinore, CA between July 2024 and August 2024 increased by 5.9%. In August 2024, listings were on the market for 29 days. During the same period, the median list price in this real estate market was $584,499.

From Rocket Homes Real Estate and based on county public records data.

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