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1410 Morro WAY Lake Elsinore, CA 92530
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Key Details
Sold Price $2,800,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV20011000
Sold Date 04/16/20
HOA Y/N No
Year Built 1979
Lot Size 0.450 Acres
Property Description
The Mountain Ridge Apartments is a 16-unit apartment building located at 1410 Morro Way in the city of Lake Elsinore, CA.
Situated on a 0.45 Acre corner lot, the property is built in 1979 and has an estimated 12,435 rentable square feet. The property has a desirable unit mix 11 two bedroom / one bath units and 5 one bedroom / one bath units. In the past 2 years, 12 of the 16 units have been upgraded with the following: wood vinyl plank flooring & new carpet in the bedrooms, new gas stove & oven with microwave, updated kitchen & bathroom counter tops, new two-tone paint, baseboards and ceiling fans. In addition, each unit has Central A/C & Heat, Individual Water Heater and Copper Plumbing. The units are individually metered for gas & electric and the landlord pays for water, trash and sewer. The common area provides the tenants one large laundry room, 16 enclosed garages and 16 covered spaces. The Mountain Ridge Apartments is located adjacent to the Ortega Highway (State Route 74), connecting Lake Elsinore directly to Orange County. Said property is a rare opportunity to purchase a well-maintained property in a rapidly growing area of the Inland Empire.
Location
State CA
County Riverside
Area Srcar - Southwest Riverside County
Zoning R3
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Assigned
Garage Spaces 16.0
Garage Description 16.0
Pool None
Community Features Foothills, Lake
Total Parking Spaces 32
Private Pool No
Building
Lot Description 26-30 Units/Acre
Story Two
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 381331004
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
Lease Land No
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Bought with Brice Head • Marcus & Millichap