201 Graham AveLake Elsinore, CA 92530

Property Details for 201 Graham Ave

Year built

1887

Construction

WOOD

Lot size

0.46 AC

Property size (Sq ft)

6,073 SF

Zone code

C1

Property type

Retail space

APN

374-172-013

APU

374172013

Description

This stunning, two-story, 6,817 square foot free-standing retail building, located at 201 W. Graham Ave. in historic Old Town Lake Elsinore, California (92530), presents a unique investment opportunity. Built in 1887 and extensively renovated in 2019, this Moorish-style architectural gem boasts a rich history and exceptional character. The property sits on a 0.46-acre lot and includes 30 parking spaces. Originally constructed from redwood and built atop an artesian well, the building retains ten ceramic-lined mineral bathrooms, a testament to its unique past. The upper floor has been thoughtfully remodeled into a full apartment with its own bathroom. The building offers scenic views of Old Town Lake Elsinore and the lake itself. Its versatile design lends itself to a variety of commercial uses, including, but not limited to, a bed and breakfast, wedding venue, spa, or office building. The asking price is $1,199,000. The property's APN is 374-172-013. Seller financing may be available. This is a rare chance to own a piece of Lake Elsinore's history and capitalize on its significant potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,453,586

  6.5%

  $2,264,848

  7%

  $2,103,074

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,684,659

  Geo Method

  $5,386,535

• Alternative Use

  Use

  Valuation

  Residential

  $1,910,484

  Hospitality

  $1,749,993

  Educational

  $1,455,974

  Medical

  $1,506,047

  Retail

  $2,264,848

Location Insight

City

Lake Elsinore

County

Riverside

State

California

Latitude

33.6688

Longitude

-117.329

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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