24567 Adams Ave, Murrieta, California 92562, Murrieta, 92562 - 3 bed, 2 bath
ACTIVE$1,650,000
24567 Adams Ave, Murrieta, California 92562
3Beds
2Baths
1,800Sqft
101,930Lot
Year Built
1973
Close
-
List price
$1.65M
Original List price
$1.8M
Price/Sqft
$917
HOA
-
Days on market
-
Sold On
-
MLS number
250018551SD
Home ConditionExcellent
Features
Good View: Mountain(s)
ViewMountain(s)
About this home
We found 3 Cons,5 Pros. Rank: price - $1.65M(94th), sqft - 1800(28th), beds - 3(45th), baths - 2(29th).
Zoned CCR - Calling all investors, developers, big thinkers!! This is in an opportunity you don't want to pass up. This 2.34 acre lot is zoned C-C-R and currently features a single level 1800 square foot, 3 bed, 2 bath detached home with newer floors, paint, kitchen, bath rooms and windows. The property has a great short term rental income being within walking distance to Old Town Murrieta, minutes from the 15 freeway and several miles from some of the best wineries in the entire country. Usage/zoning allows for commercial, retail, office, drive-through, restaurant, medical offices or up to 50 feet high, minus your setbacks, 20% landscaping and the parking required depending on the use.
Price History
Date
Event
Price
09/19/25
Price Change
$1,650,000
02/09/25
Listing
$1,800,000
Condition Rating
Excellent
Despite being built in 1973, the property has undergone an extensive and recent renovation, as explicitly stated in the description ('newer floors, paint, kitchen, bath rooms and windows'). The images confirm this, showcasing a fully updated, modern kitchen with flat-panel grey cabinets, solid-surface countertops, stainless steel appliances (including a contemporary range hood), and recessed lighting. Both bathrooms feature modern vanities, fixtures, and new tub/shower surrounds. The entire interior boasts new, consistent grey-toned LVP flooring and fresh paint. The windows also appear to be newer vinyl. These comprehensive updates bring the property's key living areas to a virtually new condition, meeting current quality standards with no deferred maintenance visible in the renovated spaces.
Pros & Cons
Pros
Exceptional Commercial Zoning: The property boasts C-C-R zoning, allowing for a wide array of commercial uses including retail, office, drive-through, restaurant, and medical offices, with potential for development up to 50 feet high, offering significant investment and development opportunities.
Generous Lot Size: With a substantial 2.34-acre lot (101,930 sqft), there is ample space for diverse commercial development projects, parking, and landscaping, providing flexibility for future use.
Prime Location: Strategically located within walking distance to Old Town Murrieta, minutes from the 15 freeway, and close to renowned wineries, ensuring high visibility, accessibility, and potential for strong customer traffic.
Existing Income Stream: The current single-level home generates great short-term rental income, providing immediate cash flow and offsetting holding costs during potential development planning or as a continued revenue source.
Updated Existing Home: The 1800 sqft, 3-bed, 2-bath detached home features newer floors, paint, kitchen, bathrooms, and windows, making it move-in ready or highly appealing for continued rental use.
Cons
Age of Existing Structure: Built in 1973, the existing residential structure is over 50 years old, which may necessitate significant renovations or demolition if the property is to be fully redeveloped for commercial use, adding to initial project costs.
Development Complexity and Cost: While the zoning is a strength, realizing the full commercial potential requires substantial capital investment, navigating complex permitting processes, and adhering to specific requirements for setbacks, landscaping, and parking, which can be time-consuming and costly.
Recent Price Reduction: The property has seen a price reduction from $1.8 million to $1.65 million, which could indicate a lack of initial market interest or an overestimation of its value, potentially signaling challenges in attracting buyers at the desired price point.