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16523 Joy, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 3 bed, 2 bath

16523 Joy, Lake Elsinore, California 92530 home-pic-0
ACTIVE$365,000
16523 Joy, Lake Elsinore, California 92530
3Beds
2Baths
1,200Sqft
Lot
Year Built
1985
Close
-
List price
$365K
Original List price
$375K
Price/Sqft
$304
HOA
$320
Days on market
-
Sold On
-
MLS number
SW25271138
Home ConditionExcellent
Features
Good View: Peek-A-Boo
Deck
ViewPeek-A-Boo

About this home

We found 4 Cons,5 Pros. Rank: price - $365.0K(56th), sqft - 1200(56th), beds - 3(69th), baths - 2(50th).

Welcome to this beautifully refreshed 3-bedroom, 2-bath condominium in the desirable Lake West Condos community of Lake Elsinore. This bright and inviting home features new vinyl plank flooring throughout, updated paint, modern trim, and generous natural light in every room. The main living area offers an open-concept layout with a spacious family room and access to a charming wood-lattice balcony/patio. The updated kitchen includes farmhouse-style gray cabinetry, quartz-style countertops, a deep stainless sink, and new GE appliances including a gas stove and microwave. Upstairs, a convenient loft/desk nook overlooks the community pool and provides an ideal work or study space. All three bedrooms are well-sized, including a comfortable primary suite with recessed lighting, a large walk-in closet, and a private full bath. Additional highlights include a two-car garage with individual doors, entryway pantry/storage space, ceiling fans in select rooms, horizontal blinds, refreshed lighting, and peaceful views of the community pool. Located close to Storm Stadium, lake recreation, shopping, schools, and just a short drive to the renowned Temecula wineries, this move-in-ready home offers comfort, convenience, and excellent value in a well-kept community. Note regarding financing – this condo will not qualify for FHA.

Price History

Date
Event
Price
12/13/25
Price Change
$365,000-2.7%
12/04/25
Listing
$375,000
03/19/10
Sold
$60,000
05/19/09
Sold
$50,000
06/28/06
Sold
$240,000
06/02/04
Sold
$158,000
09/03/99
Sold
$53,000
01/29/98
Sold
$30,000
Condition Rating
Excellent
Despite being built in 1985, this property has undergone an extensive and very recent interior renovation, bringing it to a virtually new condition. The description highlights 'new vinyl plank flooring throughout,' 'updated paint, modern trim,' 'updated kitchen with farmhouse-style gray cabinetry, quartz-style countertops, a deep stainless sink, and new GE appliances,' and 'refreshed lighting.' The images confirm these modern updates in the kitchen and bathrooms, featuring contemporary vanities, fixtures, and finishes. The property is explicitly described as 'move-in ready,' aligning with the 'Excellent' criteria for a property extensively renovated within the last 5 years, where all components are new or virtually new and meet current quality standards.
Pros & Cons

Pros

Extensive Modern Updates: The property features new vinyl plank flooring, updated paint, modern trim, refreshed lighting, and an updated kitchen with farmhouse-style cabinetry, quartz-style countertops, and new GE appliances, making it move-in ready.
Desirable Community & Amenities: Located in the 'desirable Lake West Condos community,' offering peaceful views of the community pool from the loft/desk nook, and access to community facilities.
Prime Location & Accessibility: Conveniently situated close to Storm Stadium, lake recreation, shopping, schools, and a short drive to the renowned Temecula wineries, enhancing lifestyle and convenience.
Functional & Spacious Layout: Boasts an open-concept living area, generous natural light, well-sized bedrooms including a primary suite with a large walk-in closet, a charming balcony/patio, and a private two-car garage.
Strong Value Proposition: Described as 'move-in-ready' and offering 'excellent value' within a well-kept community, further supported by a recent price reduction.

Cons

MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
FHA Loan Ineligibility: The property explicitly does not qualify for FHA financing, which significantly narrows the potential buyer pool, particularly for first-time homebuyers.
Monthly HOA Fees: A monthly association fee of $320 adds a recurring cost to homeownership, which can impact affordability and budget for some buyers.
Building Age & Potential Infrastructure: Built in 1985, the building is nearly 40 years old. While the interior is updated, the age of the overall structure and its common elements could lead to future maintenance or special assessment concerns.

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