110-118 W Heald Ave - Apartments FOR SALE


Lake Elsinore, CA 92530
$2,150,000 USD
714-814-2088
110-118 W Heald Ave, Lake Elsinore, CA for Sale
$2,150,000 USD
Apartments - FOR SALE
1/18
null | 5.64% Cap Rate

110-118 W Heald Ave
Lake Elsinore, CA 92530


HIGHLIGHTS

  • ProForma CAP Rate of 7.09% With a ProForma GRM of 8.91. Current CAP Rate of 5.64%. / ProForma CAP Rate is Based on Leveling Off Current Rents.
  • Extremely attractive unit mix of Four (4) Studio Units, Six (6) One- Bedroom / One Bathroom Units, & Four (4) Two-Bedroom / One Bathroom Units.
  • High annual occupancy location. Minutes from Downtown Lake Elsinore, Lake Park, & many major retailers.
  • The property is 100% occupied & rental comparable illustrates a 100% occupancy area.
  • Recent Interior Renovations / Onsite Social Areas / Secure & Gated Community / Within Walking Distance From Downtown Lake Elsinore
  • Property is situated near major freeways such as Interstate 15, 74, & 215.

OVERVIEW

This 14 Unit Apartment Community is located on 110-118 West Heald Avenue, Lake Elsinore, CA 92530. The property consists of Four (4) Studios, Six (6) One- Bedroom / One Bathroom Units, & Four (4) Two- Bedroom / One Bathrooms Units. The property consists of two separate parcels that is currently situated on a 0.390 Acre Lot. This 14-unit property in Lake Elsinore offers an ideal location, situated less than a mile from the picturesque Lake Point Park, providing residents with easy access to the serene beauty and recreational opportunities of the lake. Additionally, its proximity to downtown Lake Elsinore ensures convenient access to the city's amenities, including shops, restaurants, and cultural attractions, all within minutes from the property. With its prime location and proximity to both natural and urban amenities, this property presents an enticing opportunity for residents seeking a balanced lifestyle in the heart of Lake Elsinore.

FOR SALE DETAILS

PRICE

$2,150,000 USD

PRICE/SF

$276 USD /SF

# OF UNITS

14

PRICE/UNIT

$153,571

CAP RATE

5.64%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1958

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

16,988 SF

ZONING

C1, Lake Elsinore

APN/PARCEL ID

374-173-002,374-173-003

ASK ABOUT THIS PROPERTY

Albert LeLe Investment GroupMore Info
714-814-2088

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Albert LeLe Investment GroupMore Info
714-814-2088

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.