HISTORIC LAKE VIEW PROPERTY | 2 PARCELS | 5 BEDROOMS | SEPARATE 1,300± SF STRUCTURE | MIXED-USE ZONING
Rare opportunity to own a historic Lake Elsinore property with stunning, unobstructed lake views and exceptional potential. The main residence offers 5 bedrooms and 2 bathrooms, featuring 3 bedrooms downstairs and 2 bedrooms upstairs. The spacious interior includes two separate living areas, original cedar beam ceilings, crown molding, original cedar wood floors, a charming parlor, built-in china cabinet, and 3 fireplaces with original granite stone. All rooms have potential of being converted to commercial office area, restaurant, retail shops etc etc THE POSSIBILITIES ARE ENDLESS. Central A/C and heat and updated copper plumbing add modern convenience while preserving the home's historic character. The primary suite features panoramic lake views and a private balcony.
The property also includes a separate structure with its own address at 125 Library St. The structure has a separate electric meter, new electrical box and electrical installation, and shares a water meter with the main house. Seller states the structure is grandfathered as a second unit. This structure is unfinished and can be converted to Residential or Commercial use.
Both parcels are included or can be sold separately.
The property is located within a mixed-use zoning designation, offering potential for a variety of residential and commercial uses, subject to city approval and applicable zoning regulations. Potential uses to investigate may include residential, office, retail, coffee shop, restaurant, boutique, hotel, church, spa, and other mixed-use concepts.
Conveniently located in the Historic heart of Lake Elsinore, within walking distance to the lake and minutes from the 15 Freeway. NO HOA and low taxes. A unique opportunity for an owner-user, investor, or buyer seeking a property with historic character, lake views, multiple structures, and future potential.
For sale
Listed by: Century 21 Masters • Leticia Vega • Contact: 951-285-6978
$2,400,000
228 S Spring St, Lake Elsinore, CA 92530
7beds
3,823sqft
Single Family Residence
Built in 1942
7,405 Square Feet Lot
$-- Zestimate®
$628/sqft
$-- HOA
What's special
- 6 days
- 66
- 5
Zillow last checked:
Listing updated:
Listed by:
Leticia Vega DRE #02064079 951-285-6978,
Century 21 Masters
Source: CRMLS,MLS#: IG26203297
Originating MLS: California Regional MLS
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 3
- Full bathrooms: 3
- Main level bathrooms: 1
- Main level bedrooms: 3
Rooms
- Room types: Bonus Room, Entry/Foyer, Family Room, Kitchen, Laundry, Living Room, Utility Room
Family room
- Features: Separate Family Room
Heating
- Central
Cooling
- Central Air
Appliances
- Laundry: Laundry Room
Features
- Balcony, Utility Room
- Has fireplace: Yes
- Fireplace features: Den, Family Room, Living Room
- Common walls with other units/homes: No Common Walls
Interior area
- Total interior livable area: 3,823 sqft
Property
Parking
- Total spaces: 2
- Parking features: Garage
- Garage spaces: 2
Features
- Levels: One
- Stories: 1
- Entry location: lower level
- Pool features: None
- Has view: Yes
- View description: Park/Greenbelt, Lake, Mountain(s)
- Has water view: Yes
- Water view: Lake
Lot
- Size: 7,405 Square Feet
- Features: 0-1 Unit/Acre
Details
- Additional parcels included: 374272006
- Parcel number: 374272014
- Zoning: Multi use
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Condition
- New construction: No
- Year built: 1942
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Fishing, Lake
Location
- Region: Lake Elsinore
Financial & listing details
- Price per square foot: $628/sqft
- Tax assessed value: $13,015
- Annual tax amount: $182
- Date on market: 9/16/2026
- Cumulative days on market: 6 days
- Listing terms: 1031 Exchange
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 9/17/2026 | Listed for sale | $2,400,000$628/sqft |
Source: | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $182 +3.6% | $13,015 +2% |
| 2024 | $176 +1% | $12,760 +2% |
| 2023 | $174 +153.4% | $12,510 +434.6% |
| 2022 | $69 +0.7% | $2,340 +2% |
| 2021 | $68 +0.4% | $2,295 +1% |
| 2020 | $68 +0.7% | $2,272 +2% |
| 2019 | $68 +0.7% | $2,228 +2% |
| 2018 | $67 +0.7% | $2,185 +2% |
| 2017 | $67 | $2,143 +2% |
| 2016 | $67 +1.7% | $2,101 +1.5% |
| 2015 | $66 | $2,070 |
Find assessor info on the county website
Monthly payment
Est. payment






