About 120 W Heald
Rare opportunity to acquire a stabilized 14-unit multifamily asset in a prime Lake Elsinore location near the lake and within walking distance to downtown, dining, and shopping. The property features a desirable unit mix of four studios, six 1-bed/1-bath units, and four 2-bed/1-bath units, all currently tenant occupied and generating immediate income. Utilities are efficiently structured with separate gas and electric meters for each unit (14 total) and one shared water meter, helping reduce owner expenses. Situated on a large 18,730 sq ft lot across two APNs (374-173-002 & 374-173-003). No garage parking. Strong rental demand and consistent occupancy provide stable cash flow, with clear upside potential through rent increases. Recent capital improvements include a new roof, making this an excellent opportunity for investors seeking a value-add or long-term hold in a growing Inland Empire market with strong tenant appeal.
Features of 120 W Heald
| MLS® # | IV26024597 |
|---|---|
| Price | $2,050,000 |
| Bedrooms | 3 |
| Bathrooms | 3.00 |
| Acres | 0.43 |
| Year Built | 1923 |
| Type | Residential Income |
| Sub-Type | Apartment |
| Status | Active |
Community Information
| Address | 120 W Heald |
|---|---|
| Area | SRCAR - Southwest Riverside County |
| City | Lake Elsinore |
| County | Riverside |
| Zip Code | 92530 |
Amenities
| Parking | On Street |
|---|---|
| Garages | On Street |
| Is Waterfront | No |
| Has Pool | No |
| Pool | None |
Interior
| Has Basement | No |
|---|---|
| Fireplace | No |
| Fireplaces | None |
| # of Stories | 1 |
| Stories | One |
Exterior
| Lot Description | ElevenToFifteenUnitsAcre |
|---|---|
| Roof | Shingle |
Additional Information
| Date Listed | February 2nd, 2026 |
|---|---|
| Days on Market | 100 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Susana Franco |
|---|---|
| Office | GOLDEN EAGLE PROPERTIES |