32767 Corydon RdLake Elsinore, CA 92530

Property Details for 32767 Corydon Rd

Lot size

10.00 AC

Property size (Sq ft)

900 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a portfolio of 71 brand-new, detached single-family rental homes in the desirable Lake Elsinore, CA market. Located at 32767 Corydon Rd, 92530, this Class A, value-add property boasts a substantial 70,219 square feet of net rentable space, spread across 10 acres. Each unit offers approximately 900-1,100 square feet of living space, featuring two bedrooms, two bathrooms, and a two-car garage. The homes are designed with sustainable energy efficiency in mind, utilizing graphene solar panel technology, resulting in significant energy savings for residents. The community caters to the 55+ demographic and includes attractive amenities such as a clubhouse, pool, spa, fire pits, gardens, and a dog park. With a current NOI of $1,566,481 and a 5.25% cap rate, this property offers a compelling return on investment. The property is zoned R-3 and features a total of 71 pads. This is a rare opportunity to acquire a newly constructed, high-quality rental portfolio in a growing market, offering significant potential for long-term appreciation and strong cash flow. The asking price is $29,854,888, with a price per unit of $420,491.38. This is a turnkey operation ready for immediate income generation. The property's location in Riverside County provides easy access to major transportation routes and local amenities.

Location Insight

City

Lake Elsinore

County

Riverside

State

California

Latitude

33.6186

Longitude

-117.305

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