328 Avenue 1 Lake Elsinore, CA 92530
Open House
Sat Nov 07, 1:00pm - 4:00pm
Sun Nov 08, 1:00pm - 4:00pm
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,192 sqft
Price per Sqft $629
MLS Listing ID OC26235170
Bedrooms 3
Full Baths 3
Construction Status Turnkey
HOA Y/N No
Year Built 2026
Lot Size 5,662 Sqft
Property Sub-Type Single Family Residence
Property Description
An exceptional investment opportunity at 328 Avenue 1 in Lake Elsinore! This versatile three-unit property offers multiple income streams, extensive upgrades, and flexible living arrangements. Ideal for investors seeking rental income or homeowners looking for multi-generational living.
Featuring three separate living spaces, the property offers approximately $5,250 in potential monthly rental income ($63,000 annually) based on current rents and projected rent for the newest ADU.
UNIT 1 – MAIN COTTAGE: Features 1 bedroom, 1 bathroom, well-appointed kitchen, cozy living room, separate dining area, and dedicated laundry room. Improvements include laminate flooring, updated windows, new exterior siding, fresh interior and exterior paint, newer roof, and three mini-split heating and air-conditioning systems. Currently rented for $1,750 per month.
UNIT 2 – STUDIO ADU: Permitted approximately 200-square-foot studio ADU completed in 2025. Currently rented for $1,250 per month.
UNIT 3 – BRAND-NEW 2026 ADU: Newly constructed 464-square-foot ADU featuring 1 bedroom, 1 bathroom, and in-unit washer and dryer. Projected rental income of approximately $2,250 per month.
SOLAR & BATTERY SYSTEMS: The main home and 2025 studio ADU have Sunrun solar with a combined monthly lease payment of approximately $105. The brand-new 2026 ADU features its own fully paid solar and battery system, including 6,000 watts of solar capacity, an 18 kW inverter, and a 14.3 kWh EG4 battery with a five-year manufacturer's warranty. Provides added energy independence and off-grid capabilities for the newest ADU.
OUTDOOR FEATURES: Brand-new artificial turf, white vinyl fencing, front carport, RV parking, brand-new storage shed, and shared outdoor gas BBQ area.
All three living units are connected to the sewer system.
Located in the Lakepoint Park area of Lake Elsinore, with easy access to the 15 Freeway, shopping, restaurants, and recreational opportunities surrounding beautiful Lake Elsinore.
THREE SEPARATE LIVING UNITS. $5,250 MONTHLY RENTAL POTENTIAL. BRAND-NEW 2026 ADU. PAID-OFF SOLAR AND BATTERY ON THE NEWEST UNIT.
Don't miss this unique opportunity to own a versatile three-unit property with multiple income possibilities!
Location
State CA
County Riverside
Area Srcar - Southwest Riverside County
Rooms
Main Level Bedrooms 3
Interior
Interior Features Bedroom on Main Level
Heating Central
Cooling Ductless
Flooring Vinyl
Fireplaces Type None
Fireplace No
Appliance Dishwasher, Gas Range, Refrigerator, Tankless Water Heater
Laundry Inside, See Remarks
Exterior
Parking Features Concrete, Carport
Garage Spaces 1.0
Garage Description 1.0
Fence Vinyl, Wood
Pool None
Community Features Biking
Utilities Available Electricity Connected, Sewer Connected, Water Connected
View Y/N Yes
View Mountain(s), Neighborhood
Roof Type Asphalt
Total Parking Spaces 1
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Dwelling Type House
Story 1
Entry Level One
Sewer Sewer Tap Paid
Water Public
Architectural Style Cottage
Level or Stories One
New Construction Yes
Construction Status Turnkey
Schools
School District Lake Elsinore Unified
Others
Senior Community No
Tax ID 373183016
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional, Cal Vet Loan, 1031 Exchange, FHA, Fannie Mae, VA Loan
Green/Energy Cert Solar
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, Cal Vet Loan, 1031 Exchange, FHA, Fannie Mae, VA Loan
Special Listing Condition Standard
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