$689,000

32989 Macy, Lake Elsinore, CA 92530

  • 12 beds
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in ——
  • Property Lot Size Icon0.26acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 3 months ago

Property Description

Exceptional value-add investment opportunity located at 32989 Macy St in the growing city of Lake Elsinore. Previously designated as a commercial-zoned and utilized as a church, this property has been rezoned by the city to High Density R-3 Residential, creating a rare and highly desirable opportunity to meet the areas increasing housing demand. This zoning shift significantly enhances the propertys development potential, making it ideal for developers, investors, and builders seeking to maximize returns. The existing structure spans approximately 4,200 square feet and offers a strong foundation for redevelopment into a multi-unit income-producing asset, with potential for a 4-plex configuration and additional ADU possibilities (buyer to verify with city). With limited inventory and continued population growth in the region, this property is well-positioned for long-term appreciation and rental income potential. The property enjoys scenic lake and mountain views and is located just minutes from Lake Elsinore, Southern Californias largest natural freshwater lake, known for boating, fishing, and year-round outdoor recreation. Its strategic location near Ortega Highway provides convenient commuter access to Orange County, making it especially attractive for tenants traveling to coastal employment hubs. Additionally, the property is just a short drive from the Interstate 15 Fwy, offering seamless connectivity to Corona, Temecula, Riverside, and San Diego. Residents will appreciate close proximity to popular local attractions such as Lake Elsinore Launch Pointe, Lake Elsinore Be

Listing Status:
Active
Date Added:
April 3, 2026
Data Last Updated:
July 6, 2026 at 7:12AM
Listing Office:
LEGACY HOMES REALTY : 951-314-4251
Listing Agent:
Josephine Sharma : 951-314-4204
MLS ID:
SW26070373
  • A/C: Central Forced Air
  • Pool: N/K
  • General: 1 Story
  • HOA Amenities: 0.0
  • Originating MLS: California Regional MLS
  • County: Riverside
  • Zoning: Assessor379060015
  • Source: California Regional MLS

This listing courtesy of Josephine Sharma , LEGACY HOMES REALTY

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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