120 W Heald
Lake Elsinore, CA 92530
Listing broker / agent: GOLDEN EAGLE PROPERTIES · SUSANA FRANCO · 951-591-2458 · CRMLS
MLS # IV26024597 · Last checked Oct 21, 2026 05:05 UTC
About this property
Rare opportunity to acquire a stabilized 14-unit multifamily asset in a prime Lake Elsinore location near the lake and within walking distance to downtown, dining, and shopping. The property features a desirable unit mix of four studios, six 1-bed/1-bath units, and four 2-bed/1-bath units, all currently tenant occupied and generating immediate income. Utilities are efficiently structured with separate gas and electric meters for each unit (14 total) and one shared water meter, helping reduce owner expenses. Situated on a large 18,730 sq ft lot across two APNs (374-173-002 & 374-173-003). No garage parking. Strong rental demand and consistent occupancy provide stable cash flow, with clear upside potential through rent increases. Recent capital improvements include a new roof, making this an excellent opportunity for investors seeking a value-add or long-term hold in a growing Inland Empire market with strong tenant appeal.
Property details
- MLS number
- IV26024597
- Status
- Active
- Type
- Residential Income
- Subtype
- Apartment
- Lot size
- 0.43 acres
- Year built
- 1923
- Stories
- 1
More property detailsCollapse
Listing
- Days on market
- 122
Building
- Year built
- 1923
- Year built source
- Assessor
- Stories
- 1
- Building stories
- 1
- Levels
- One
- Entry level
- 1
- Roof
- Shingle
Rooms & interior
- Fireplace
- None
- Laundry
- None
Exterior & parking
- Total parking spaces
- 0
- Garage spaces
- 0
- Parking
- On Street
- Pool
- None
- Lot features
- Eleven To Fifteen Units Acre
- Lot size source
- Assessor
- Fencing
- Wrought Iron
Utilities & community
- Water
- Public
- Sewer
- Public Sewer
- Community features
- Sidewalks
Fees & lease terms
- Association
- No
- Association fee
- $0.00
Nearby public schools
Nearby does not mean assigned. These are approximate straight-line distances from the property, not walking or driving routes. Confirm attendance boundaries, enrollment eligibility, grades and current school status directly with the district.
| School / district | Grades | Distance |
|---|---|---|
| Elsinore Elementary Lake Elsinore Unified · Lake Elsinore | K–5 | 0.2 mi |
| Elsinore Middle Lake Elsinore Unified · Lake Elsinore | 6–8 | 0.7 mi |
| Ortega High Lake Elsinore Unified · Lake Elsinore | 9–12 | 0.9 mi |
| Railroad Canyon Elementary Lake Elsinore Unified · Lake Elsinore | K–5 | 1.1 mi |
| Earl Warren Elementary (school website, opens in a new tab) Lake Elsinore Unified · Lake Elsinore | K–5 | 1.9 mi |
| Tuscany Hills Elementary Lake Elsinore Unified · Lake Elsinore | K–5 | 2.5 mi |
| Temescal Canyon High Lake Elsinore Unified · Lake Elsinore | 9–12 | 2.6 mi |
| Lakeland Village (school website, opens in a new tab) Lake Elsinore Unified · Lake Elsinore | K–8 | 2.9 mi |
Source: California Department of Education · 2025-26 school locations. Downloaded Oct 2, 2026 UTC. This annual snapshot may not reflect later changes. Public schools only; not a complete list of education options. No ratings or attendance assignments are provided.
Check the California School Directory ↗Price and tax history
Asking price
- Current asking price
- $2,040,000
- MLS-reported original asking price
- $2,200,000
- MLS-reported previous asking price
- $2,050,000
- MLS-reported last price change
- 2026-09-30 11:56 UTC
| Observed (UTC) | Asking price |
|---|---|
| Oct 20, 2026 19:48 | $2,040,000 |
MLS values are reported for this listing, not prior sales. Observation dates show when our importer saw an asking price, not when the MLS changed it. Up to 24 observations are retained; changes between refreshes may be missed. This is not a complete price or sales history.
Property taxes
Tax history is not available from the imported listing data.
Source: MLS feed. Only supplied tax years are shown, up to 10 years; this is not a county tax archive. Amounts may be corrected and taxes may change after purchase. Verify assessments and current taxes with the county. These values do not automatically fill the payment calculator.
Market trends in Lake Elsinore
Active residential homes for sale in Lake Elsinore, CA, available through this website's authorized feed. Includes residential subtypes; excludes rentals. Not the entire market or a valuation of this property.
Observed price activity · past 30 days
54 currently active listings have an observed price-change pair ending in this period. A listing can appear in both counts.
Calculated 2026-10-21 06:16 UTC. Source: this website's authorized MLS inventory. Import progress, freshness rules and coverage affect the figures. Medians exclude missing/invalid values; price per sq ft is the median of individual listing ratios. Price observations are limited to the last 24 per listing and may miss changes between refreshes. This is not a complete 30-day market report, historical inventory trend, appreciation measure, or sold-price analysis.
Payment calculator
Explore a fixed-rate loan scenario. The price comes from this listing; a 20% down payment and 30-year term are starting assumptions, not requirements. Enter your own interest rate—not APR—and estimated costs.
Illustration only—not a rate quote, preapproval, lending offer or affordability determination. Assumes equal monthly payments on a fully amortizing fixed-rate loan; no adjustable rates, interest-only periods or balloon payments. Excludes closing costs, utilities, maintenance, special assessments and other unentered costs. Actual payments and escrow can differ. Review a Loan Estimate with your lender.
Understanding homeownership costs — CFPB ↗