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Investor Special in Lake Elsinore! 176 Olive Street offers a rare opportunity to own a 3-unit multifamily property just one block from the town center, featuring lake views and situated on a large 17,000 sq. ft. lot. The property includes a 1BR/1BA unit, a studio, and a 2BR/1BA upper unit (vacant). When fully occupied, the property generates approximately $4,000/month in rental income. Two units are currently rented, one on a month-to-month basis and one with 4 months remaining on the lease. Quick fix and hold to increase rental income or explore the development potential for multiple units or two separate buildings (buyer to verify with city). Property is being sold as-is. Excellent location near downtown Lake Elsinore, schools, shopping, and easy freeway access. Great views of the Lake. Great opportunity for investors or developers looking to add value in a growing area!
Property Type(s):
Residential Income
| Last Updated | 10/22/2025 | Tract | San Diego |
|---|---|---|---|
| Year Built | 1924 | Community | SRCAR - Southwest Riverside County |
| County | Riverside |
Additional Details
| AIR | None |
|---|---|
| AREA | SRCAR - Southwest Riverside County |
| LOT | 0.4 acre(s) |
| STORIES | 2 |
| SUBDIVISION | San Diego |
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Listed with Colleen K. Cotter
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2025.
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