16482 Grand Avenue, Lake Elsinore, California 92530, Lake Elsinore, - bed, bath

home-pic
ACTIVE$824,900
16482 Grand Avenue, Lake Elsinore, California 92530
3Beds
4Baths
1,140Sqft
43,560Lot
Year Built
1911
Close
-
List price
$825K
Original List price
$950K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
SW24245422
Home ConditionFair
Features
Excellent View: Hills, Lake, Mountain(s), Panoramic, Pond, Trees/Woods, Water
Deck
Patio
ViewHills, Lake, Mountain(s), Panoramic, Pond, Trees/Woods, Water

About this home

$100,000 PRICE REDUCTION! OWN YOUR OWN PRIVATE BEACH!! Here is a once in a lifetime opportunity to own THE cutest home on the water in Lake Elsinore! This historic 1911 cottage was meticulously rebuilt in the early 1980's under previous ownership in a manner preserving its "cottagecore" charm. Positioned on a spacious one acre lot running from Grand Ave all the way to the the lake, this super-private getaway has its own private beach and features the original 1 bedroom, 2 bath cottage as well as a detached garage with recently renovated upstairs apartment. Additionally, the 3-car garage features an attached bedroom with private bathroom and its own private patio that opens to the beautiful lawn area between the two buildings. The grounds feature majestic shade trees and a lovely variety of flowering plants. Stepping out onto the cottage rear deck you'll have commanding lake, city-lights and mountain views as you enjoy the quiet ambiance next your quaint koi pond. There is ample room on this parcel for storing boats, RV's or for possibly building an additional home as the structure is located several hundred feet from water's edge. This home is ideal for those looking for a unique home on the shores of Southern California's only naturally occurring year-round lake...a true piece of California history. Another possible use would be as a short term rental property while a caretaker could reside in the apartment above the garage. The beach features spectacular views up and down the west shore and of the surrounding mountains. You also have a very nice view of the city lights on the opposite side of the lake. Hurry, this home will not last!

Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (308 Listings)
Beds33
50%
Baths42
95%
Square foot1,1401,830
11%
Lot Size43,5607,405
95%
Price$825K$584K
96%
Price per square foot$724$327
100%
Built year19112005
1%
HOA
Days on market334192
93%
Condition Rating
Fair

The property, originally built in 1911, was 'meticulously rebuilt in the early 1980s,' making the main cottage's last major renovation approximately 35-44 years ago. While the timeline for 'Poor' condition (renovated 30-50 years ago) technically applies to the main cottage, the actual condition depicted in the images and described in the listing aligns more with 'Fair.' The main cottage's kitchen features dated 1980s-style wood cabinets, tiled countertops, and fluorescent lighting, and the main bathroom also has dated tiled counters. These areas are functional but clearly show signs of being outdated and would require minor cosmetic updates. However, the property is well-maintained, and the description does not indicate any 'substantial repairs' or 'significant defects affecting safety, soundness, or structural integrity' as would be characteristic of a 'Poor' rating. Furthermore, the detached upstairs apartment has been 'recently renovated,' offering a more modern living space with newer flooring and bathroom fixtures, which significantly boosts the overall condition. Therefore, the property is aged but maintained, with major components functional but outdated in parts, fitting the 'Fair' criteria of requiring minor updates or repairs.
Pros & Cons

Pros

Private Lakefront & Beach Access: Unparalleled direct access to Lake Elsinore with a private beach, offering exclusive recreational opportunities and a rare waterfront lifestyle.
Expansive & Versatile 1-Acre Lot: A generous one-acre parcel providing ample space for expansion, RV/boat storage, or potential for an additional dwelling, enhancing long-term value and flexibility.
Multiple Dwellings & Income Potential: Features a main cottage, a detached apartment above the garage, and an additional bedroom suite, offering versatile living arrangements, guest accommodations, or potential rental income streams.
Panoramic Views: Enjoy breathtaking panoramic views of Lake Elsinore, city lights, and surrounding mountains from various points on the property, creating a serene and picturesque setting.
Historic Charm & Unique Character: A meticulously rebuilt 1911 cottage that retains its charming 'cottagecore' aesthetic, offering a distinctive and historically significant property unlike typical modern homes.

Cons

Age of Main Structure & Systems: While rebuilt in the 1980s, the core structure dates to 1911, potentially implying older underlying systems (plumbing, electrical) that may require future updates or maintenance.
Limited Main House Square Footage: The primary cottage is 1140 sqft, which is relatively small for a 3-bedroom, 4-bathroom property, suggesting compact living spaces or a fragmented layout across multiple structures.
Extensive Grounds & Multiple Structures Maintenance: The large one-acre lot with mature landscaping, a private beach, and multiple buildings will require significant ongoing maintenance and upkeep, which could be a considerable commitment for a buyer.

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