17797 Grand Avenue, Lake Elsinore, California 92530, Lake Elsinore, - bed, bath
ACTIVE$424,650
17797 Grand Avenue, Lake Elsinore, California 92530
0Bed
0Bath
3,920Sqft
3,920Lot
Year Built
1947
Close
-
List price
$425K
Original List price
$463K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
PW25164223
Home ConditionFair
Features
Good View: Lake, Peek-A-Boo
ViewLake, Peek-A-Boo
About this home
Good investment opportunity in Lake Elsinore! Great for the investor or entrepreneur that's looking for the right price and conditions on an income producing property. Commercially Zoned, this duplex is a diamond that is fully occupied with tenants and has even more of an upside potential with future rents and potential Commercial Use. Each unit consist of 1 bedroom & 3/4 bathroom with each unit having it's own electrical meters with one gas and water meter for both units. This is the one if you are looking for long term investment cash flow income. Please do not disturb the tenants. Contact listing agent for more information.
Nearby schools
3/10
Lakeland Village School
Public,•K-8•1.2mi
6/10
Canyon Lake Middle School
Public,•6-8•5.3mi
5/10
Lakeside High School
Public,•9-12•3.2mi
Price History
Date
Event
Price
09/04/25
Price Change
$424,650-7.5%
08/04/25
$458,999-0.9%
07/24/25
$463,296
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (9 Listings) | |
|---|---|---|---|
| Beds | 0 | 0 | |
| Baths | 0 | 0 | |
| Square foot | 3,920 | 2,069 | 80% |
| Lot Size | 3,920 | 6,752 | 30% |
| Price | $425K | $499K | 20% |
| Price per square foot | $108 | $290.5 | 10% |
| Built year | 1947 | 9825988 | 40% |
| HOA | |||
| Days on market | 103 | 198 | 10% |
Condition Rating
Fair
Built in 1947, this property shows its age despite some recent cosmetic updates. The LVP flooring and stainless steel range are positive additions, but the kitchen cabinets and countertops are dated. Bathrooms are basic, with one featuring a plastic surround and the other older-style tiles. The reliance on window AC units indicates a lack of modern central cooling. While functional and occupied, it requires minor updates to meet current standards and enhance overall appeal.
Pros & Cons
Pros
Immediate Income Generation: The property is a fully occupied duplex, offering immediate cash flow and a stable income stream for investors from day one.
Commercial Zoning & Future Potential: Commercially Zoned, this property provides significant flexibility for future use, including potential commercial ventures or higher rental income opportunities.
Dual Income Streams: As a duplex, it offers two separate rental units, diversifying income sources and mitigating vacancy risk for the investor.
Independent Electrical Metering: Each unit has its own electrical meter, simplifying utility billing for tenants and reducing management burden for the landlord.
Recent Price Adjustment: The list price has been significantly reduced from its original, indicating a motivated seller and potentially a more competitive acquisition opportunity.
Cons
Property Age (1947): Built in 1947, the property is older, suggesting potential for outdated systems (plumbing, electrical) and higher maintenance or renovation costs.
Shared Gas and Water Meter: Only one gas and water meter serves both units, which means the landlord will need to manage or split these utility costs, potentially leading to complexities or tenant disputes.
Small Unit Configuration: Each unit consists of only 1 bedroom and a 3/4 bathroom, which may limit the target tenant demographic and potential rental income compared to properties with larger units.