17797 Grand Avenue, Lake Elsinore, California 92530, Lake Elsinore, - bed, bath
ACTIVE$424,650
17797 Grand Avenue, Lake Elsinore, California 92530
0Bed
0Bath
840Sqft
3,920Lot
Year Built
1947
Close
-
List price
$425K
Original List price
$425K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
PW25223335
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
09/23/25
Listing
$424,650
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (9 Listings) | |
|---|---|---|---|
| Beds | 0 | 0 | |
| Baths | 0 | 0 | |
| Square foot | 840 | 1,780 | 20% |
| Lot Size | 3,920 | 6,752 | 30% |
| Price | $425K | $499K | 20% |
| Price per square foot | $506 | $301 | 80% |
| Built year | 1947 | 9825988 | 40% |
| HOA | |||
| Days on market | 43 | 199 | 10% |
Condition Rating
Fair
Built in 1947, this property shows its age despite some minor updates. While it features newer laminate flooring and a stainless steel range in the kitchen, the oak cabinets and laminate countertops are dated. The bathroom's tiled shower also reflects an older style. The presence of a window AC unit indicates a lack of central cooling, pointing to outdated systems. The property is maintained and functional but requires minor updates to modernize the kitchen, bathroom, and cooling systems.
Pros & Cons
Pros
Commercial Zoning & Upside Potential: The property is commercially zoned, offering significant flexibility for future commercial use or redevelopment, which can lead to substantial long-term value appreciation beyond typical residential income properties.
Immediate Income & Full Occupancy: Currently fully occupied with tenants, this duplex provides immediate cash flow and a stable income stream from day one, making it an attractive option for investors seeking consistent returns.
Duplex Configuration: As a duplex, the property offers two separate income-producing units, diversifying rental income and potentially reducing vacancy risk compared to a single-unit rental.
Separate Electrical Meters: Each unit has its own electrical meter, simplifying utility billing for tenants and reducing management overhead and potential disputes for the landlord.
Lake View: The property boasts a 'Peek-A-Boo' lake view, which can enhance tenant appeal and potentially command higher rental rates or increase property desirability.
Cons
Age of Property & Potential Maintenance: Built in 1947, the property is quite old, suggesting potential for deferred maintenance, outdated systems, and the need for significant capital expenditures in the near future to maintain or upgrade.
Small Unit Size & Limited Layout: Each unit consists of only 1 bedroom and a 3/4 bathroom, with a total of 840 sqft for both units, indicating very small living spaces that may limit the tenant pool and potential for higher rental income.
Shared Gas & Water Meter: The property has only one gas and water meter for both units, which means the landlord will likely be responsible for these utility costs or will need to implement a complex system for splitting bills between tenants, potentially reducing net operating income and increasing management burden.