GetMyHome
‪(213) 433-7766‬

118 N Main, Lake Elsinore, California 92530, Lake Elsinore, - bed, bath

home-pic
ACTIVE$1,500,000
118 N Main, Lake Elsinore, California 92530
0Bed
0Bath
1,104Sqft
3,920Lot
Year Built
1920
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
DW25237444
Home ConditionPoor
Features
View-

About this home

Located in the heart of Lake Elsinore’s revitalized downtown district, this versatile mixed-use property offers exceptional potential for both investors and owner-users. The building features a retail storefront on the ground floor, ideal for a boutique, café, professional office, or service business. Upstairs, you'll find a spacious 4 bedroom, 1 bath residential unit, perfect for an owner-occupant or as additional rental income. Live upstairs and operate your business below, or rent out both spaces for maximum return. Enjoy outstanding visibility and foot traffic thanks to the City’s ongoing Downtown Revitalization Initiative, a multi-faceted project transforming the Main Street corridor. Significant enhancements include the new City Hall at Main and Graham, pedestrian safety and infrastructure upgrades, and aesthetic improvements. Don’t miss this rare opportunity to invest in one of Southern California’s fastest-growing communities, where business meets lifestyle.

Price History

Date
Event
Price
10/10/25
Listing
$1,500,000
Condition Rating
Poor
Built in 1920, this property is over 100 years old. While the exterior appears functional for its mixed-use purpose, there are no interior images or details about recent renovations. Given its age, it is highly probable that the residential unit's kitchen, bathroom, and major systems (electrical, plumbing, HVAC) are severely outdated and would require substantial repairs and rehabilitation to meet modern living standards. The lack of renovation history for such an old building suggests significant investment would be needed.
Pros & Cons

Pros

Prime Downtown Location & Revitalization: Situated in the heart of Lake Elsinore's revitalized downtown district, benefiting from ongoing city investments, increased foot traffic, and enhanced infrastructure.
Versatile Mixed-Use Potential: Offers a flexible layout with a ground-floor retail storefront and an upstairs 4-bedroom residential unit, ideal for owner-users or investors seeking dual income streams.
High Visibility & Foot Traffic: Benefits from outstanding visibility and foot traffic due to its Main Street location and the city's downtown revitalization efforts, enhancing commercial viability.
Investment in a Growing Community: Located in one of Southern California's fastest-growing communities, suggesting strong potential for appreciation and continued development.
Owner-User/Income Flexibility: The ability to live upstairs and operate a business downstairs, or rent out both spaces, provides significant operational and financial flexibility.

Cons

Age of Property & Potential for Outdated Systems: Built in 1920, the property likely has original or significantly aged infrastructure (electrical, plumbing, HVAC), which could lead to costly repairs or necessary upgrades to meet modern standards.
Limited Residential Bathroom Count: The upstairs residential unit offers only one bathroom for four bedrooms, which is a significant functional limitation for an owner-occupant or tenants, potentially impacting market appeal.
High Initial Investment & Renovation Potential: With a list price of $1.5 million for 1104 sqft and its age, the property represents a substantial initial investment, likely requiring further capital for necessary renovations and modernization to maximize its potential in a revitalized district.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse market stats by State