Active

16465 Joy Street

Lake Elsinore CA, 92530

$7,200,000


$244.90 per sqft

Active

29,400 sqft

Condo

Built in 1979

Listed by Tyler Leeson with Marcus & Millichap RE Invest 949-419-3200

16465 Joy Street is a 32-unit multifamily investment property located in Lake Elsinore, California. Built in 1979, 16465 Joy Street features a desirable mix of one and two-bedroom floorplans on a spacious 1.17-acre parcel. The property offers amenities including private patios and balconies, a recently upgraded swimming pool, and an on-site laundry facility. Furthermore, the property offers ample covered and surface parking, with a parking ratio of 1.375 spaces to units. 16465 Joy Street benefits from its optimal Lake Elsinore location, situated just half-a-mile from the lake. The property is situated within walking distance of Machado Elementary School, and just under one mile from Lakeside High School. Additionally, the property is located near Riverside Drive (74), a major thoroughfare for the area, providing residents with convenient access to retailers, restaurants, and grocers. Furthermore, 16459 Joy Street provides residents with convenient access to Interstate 15, connecting residents to employment hubs in the surrounding cities of Corona, Riverside, Murrieta, and Temecula. Available in conjunction with the adjacent 10-unit property located at 16459 Joy Street, this portfolio represents a unique opportunity to acquire a sizable footprint in the direct vicinity of Lake Elsinore. A new owner could capitalize on this attractive location through the completion of a comprehensive interior and exterior renovation plan, thereby achieving significant rental premiums.

OC24058031

MLS ID

March 22, 2024

Listed

May 25, 2024

Updated

Map

16465 Joy Street
Lake Elsinore CA, 92530

Interior Features

Total Stories

2


Laundry Description

Common Area


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

1.17 Acres


Lot Features

Street Level


Sewer

Public Sewer

Other Property Details

Area Name

SRCAR - Southwest Riverside County


Days on Market

12


Garage

Yes


Garage Spaces

2


Parking Total

44


View

No


County

Riverside


Water Source

Public


Pool

No


Pool Features

Community


Zoning

R3


Buyer Agency Compensation

2%

Listing Contact: 949-419-3200 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/25/2024. This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/25/2024 at 2:23 AM UTC

 

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