32989 Macy

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Address: 32989 Macy St, Lake Elsinore, CA 92530, USA
California & West + 2-4 Units
Created date: August 16, 2026
Date last updated: September 15, 2026
Price: $675,000Investment Analyzer NEW!

Property Description

Plans to built 3 plex has been submitted to the city for review and approval; each unit plan has 3 bedrooms and 2 baths. Exceptional value-add investment opportunity located at 32989 Macy St in the growing city of Lake Elsinore. Previously designated as a commercial-zoned and utilized as a church, this property has been rezoned by the city to High Density R-3 Residential, creating a rare and highly desirable opportunity to meet the area's increasing housing demand. This zoning shift significantly enhances the property's development potential, making it ideal for developers, investors, and builders seeking to maximize returns. The existing structure spans approximately 4,200 square feet and offers a strong foundation for redevelopment into a multi-unit income-producing asset, with potential for a 3-plex configuration and additional ADU possibilities (buyer to verify with city). With limited inventory and continued population growth in the region, this property is well-positioned for long-term appreciation and rental income potential. The property enjoys scenic lake and mountain views and is located just minutes from Lake Elsinore, Southern California's largest natural freshwater lake, known for boating, fishing, and year-round outdoor recreation. Its strategic location near Ortega Highway provides convenient commuter access to Orange County, making it especially attractive for tenants traveling to coastal employment hubs. Additionally, the property is just a short drive from the Interstate 15 Fwy, offering seamless connectivity to Corona, Temecula, Riverside, and San Diego. Residents will appreciate close proximity to popular local attractions such as Lake Elsinore Launch Pointe, Lake Elsinore Beachfront Park, Lake Elsinore Casino, and Storm Stadium, along with convenient access to nearby Costco, Home Depot, Target, Super Wal-Mart, Lowe's Shopping centers, dining, and everyday amenities. With its prime location, flexible high-density zoning, scenic views, and strong redevelopment potential, this property represents a rare opportunity to invest in one of Southern California's rapidly expanding rental markets.
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Broker Details

Josephine Sharma
Josephine Sharma

Legacy Homes Realty (951) 314-4204 MLS ID: SWSHARJOS State License Number: 01507253

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: 2-4 Units
Price: $675,000
No. of Units: 3
Year Built: 1941
Opportunity Zone: No
Price per unit: $225,000
Number of Bedrooms: 6
Number of Bathrooms: 0
Address: 32989 Macy, Lake Elsinore, CA 92530, USA
Provided by:
Standard Status: Active
MLS Listing Number: SW26070373
ID: 3yd-MRMLSCA-SW26070373
Copyright Disclaimer: Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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