201 Graham AveLake Elsinore, CA 92530

  • Retail properties
  • 6,073 SF
For Sale
$1,199,000 View listing

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 properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
201 Graham Ave, Lake Elsinore, California

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$11,066
$212,241
$833,048
$1,045,289
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