Request More Info
Schedule a Showing
Share
Print
|
Exceptional 10-Unit Multifamily Investment Opportunity in Lake Elsinore, CA Discover an outstanding investment opportunity at **16459 Joy Street, Lake Elsinore, CA**. This 10-unit multifamily property offers an attractive combination of spacious townhome-style residences, desirable amenities, and significant value-add potential in Southern California's Inland Empire. The property features generously sized three-bedroom residences designed for comfortable and functional living. Each unit offers desirable amenities, including **central heating and air conditioning, private patios, and individual washer and dryer hookups**. Parking accommodations vary by floor plan, with residences featuring **either a private two-car garage with an automatic garage door opener or a one-car garage accompanied by a dedicated carport space**. These features enhance the property's rental appeal and distinguish it from traditional multifamily housing options. Conveniently situated near Lake Elsinore's scenic waterfront, the property provides access to outdoor recreation, shopping, dining, and everyday conveniences. Machado Elementary School is within walking distance, while Lakeside High School is also nearby. The Riverside Drive commercial corridor offers convenient access to local retailers, restaurants, and grocery stores. Additionally, proximity to Interstate 15 provides connectivity to surrounding Inland Empire communities and regional employment centers. **From an investment perspective, the property currently maintains 90% occupancy, with nine occupied units and one vacancy**, providing established rental income alongside an immediate opportunity for additional revenue through lease-up. Investors may also explore strategic renovations, interior upgrades, and rental optimization to further enhance the property's income potential and long-term value, subject to applicable regulations and market conditions. The property's desirable three-bedroom configurations, townhome-style layouts, private garages, and individual laundry accommodations provide a strong foundation for continued rental demand and long-term investment ownership. **An exceptional opportunity to acquire a 10-unit multifamily asset with existing rental income, immediate lease-up potential, and opportunities for future appreciation in Lake Elsinore. Contact us today for additional property information, financial details, or to schedule a private showing!**
Property Type(s):
Residential Income
| Last Updated | 11/4/2026 | Year Built | 1984 |
|---|---|---|---|
| Community | SRCAR - Southwest Riverside County | Garage Spaces | 18.0 |
| County | Riverside |
Additional Details
| AREA | SRCAR - Southwest Riverside County |
|---|---|
| GARAGE | Yes |
| HEAT | Central |
| LOT | 0.6 acre(s) |
| LOT DIMENSIONS | 26136 |
| PARKING | Carport, Driveway, Garage |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| WATER | Public |
Location
Contact us about this Property
| / | |
| We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for Carie Webber to contact you even if your name is on a Federal or State "Do not call List". | |
Listed with IRN Realty
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 2026.
Twitter
Facebook
Email