433 Diamond DrLake Elsinore, CA 92530

Property Details for 433 Diamond Dr

Year built

2016

Construction

TILT-UP CONCRETE

Lot size

0.46 AC

Property size (Sq ft)

4,500 SF

Zone code

R1

Property type

Office properties

Property subtype

Office buildings

APN

363-162-045

APU

363162045

Description

This exceptional 5,400 square foot medical office building, situated at 433 Diamond Dr, Lake Elsinore, CA 92530, presents a compelling investment opportunity. Built in 2022, this single-story property boasts six individual units, each offering approximately 900 square feet of versatile space. The asking price is $2,750,000, translating to $610.19 per square foot and $549,166.67 per unit. The property sits on a 20,038 square foot lot and includes 18 parking spaces. Its convenient location near the I-15 freeway ensures easy access for both patients and staff. The property is currently vacant, providing a blank canvas for a new owner to customize the space to their specific needs, whether for a single practice or multiple tenants. The permitted zoning is C-@ per City of Lake Elsinore; however, buyers are strongly encouraged to independently verify zoning regulations and permitted uses. This turnkey property offers significant potential for growth and profitability within the thriving healthcare market of Lake Elsinore. The APN is 363162045. This is a rare opportunity to acquire a modern, well-located medical office building in a rapidly growing area. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $1,236,782

  6.5%

  $1,141,645

  7%

  $1,060,099

• Comparable approach

  Method

  Valuation

  Relative Method

  $789,401

  Geo Method

  $1,583,865

• Alternative Use

  Use

  Valuation

  Residential

  $1,415,640

  Hospitality

  $1,296,718

  Educational

  $1,078,854

  Medical

  $1,115,958

  Retail

  $1,678,218

Location Insight

City

Lake Elsinore

County

Riverside

State

California

Latitude

33.6574

Longitude

-117.3

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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