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$2,250,000

32986 Blackwell
Lake Elsinore, CA 92530

For Sale|Multi-Family|Active
Subdivision:
County:
Riverside

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32986 Blackwell32986 Blackwell32986 Blackwell32986 Blackwell
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We are pleased to exclusively present Grand Blackwell Apartments, a 22-unit, single-story apartment community located in the City of Lake Elsinore, California. Walking distance of less than a block to Perret Park & the Lake, the buildings are situated on combined lot area of .62 acres and is comprised of twenty-one, studio/one-bathroom units and a large one, three-bedroom/two-bathroom unit plus an office. In recent years, the property has undergone renovation work on the interior, exterior, and common are We are pleased to exclusively present Grand Blackwell Apartments, a 22-unit, single-story apartment community located in the City of Lake Elsinore, California. Walking distance of less than a block to Perret Park & the Lake, the buildings are situated on combined lot area of .62 acres and is comprised of twenty-one, studio/one-bathroom units and a large one, three-bedroom/two-bathroom unit plus an office. In recent years, the property has undergone renovation work on the interior, exterior, and common areas including but not limited to: block wall & vinyl fencing, tile flooring in all units, updated kitchens & bathrooms, paint throughout the property, A/C, and new water heaters. The astute investor has the ability own a well located, value-add opportunity that presents the potential to significantly increase cashflow within a relatively short period of time. The investment appeal of this asset is driven by the propertys current value-add component through hands-on management and leveling rents to market. Investment Highlights: *Single Story Construction for All Units *Walking Distance to Perret Park & Lake Elsinore *7.61% Cash-on-Cash Return on Actual Numbers *On-Site Laundry (Machines Owned) & Storage Units for Additional Income *Tile Flooring in all Units with Updated Kitchens & Restrooms *Individually Metered for Electricity *Improvements Include: New A/C, Water Heaters, Block Wall & Vinyl Fencing, and Paint throughout the Property

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Listing Snapshot
Price
$2,250,000
Days Online
232 Days
Bedrooms
N/A
Inside Area (SqFt)
N/A
Total Baths
N/A
Partial Baths
N/A
Lot Size
0.62 Acres
Year Built
1960
MLS Number
CV20071584
Status
Active
Property Tax
N/A
HOA/Condo/Coop Fees
N/A
Sq Ft Source
N/A
Friends & Family
Recent Activity
a week agoListing updated with changes from the MLS
3 months agoStatus changed to ACTIVE
4 months agoStatus changed to PENDING
8 months agoListing first seen online
General Features
Terms
CashConventional
Stories
1 Story
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Exterior Features
Water
Meter on Property
Pool
N/K
Schools
School District
Unknown
Elementary School
Unknown
Middle School
Unknown
High School
Unknown
Listing courtesy of REALTY ONE GROUP WEST

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Copyright © 2018-present San Diego MLS®.
Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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