This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
1410 Morro Way
Lake Elsinore, CA 92530
Mountain Ridge Apartments · Multifamily Property For Sale
·
16 Units
PROPERTY FACTS
| No. Units | 16 | Lot Size | 0.45 AC |
| Property Type | Multifamily | Building Size | 12,435 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1979 |
| Building Class | C | Parking Ratio | 2.57/1,000 SF |
| Zoning | R3, Lake Elsinore | ||
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 12,435 SF |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 2.57/1,000 SF |
| Zoning | R3, Lake Elsinore |
AMENITIES
UNIT AMENITIES
- Heating
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
ABOUT 1410 MORRO WAY , LAKE ELSINORE, CA 92530
Proforma NOI is appr. $125,016 at a 6.2% CAP Rate! This is a great opportunity to own a well maintained and professionally managed 16-unit multifamily apartment building within walking distance of the lake. The property has a new $65K roof, new $13K parking lots, and $15K exterior paint job, and new landscaping! The Mountain Ridge Apartments have an onsite laundry room for additional income. The property also comes with 16 assigned single car garages, 8 carports and 8 open parking spaces. Lake Elsinore is perfectly situated for commuters between Orange County, San Diego and the Inland Empire. Please see the drone footage link for a detailed aerial view. Also see all the attached financial supplements (actual cash flows and rent rolls). Located at the corner of Grand Ave and Morro Way in Lake Elsinore, CA.
PROPERTY TAXES
| Parcel Number | 381-331-004 | Improvements Assessment | $2,187,291 |
| Land Assessment | $874,915 | Total Assessment | $3,062,206 |
PROPERTY TAXES
