Investor opportunity just a short walk from downtown Lake Elsinore with beautiful views of the lake. This 2 bedroom, 1 bathroom home sits on two parcels totaling over 2 acres, offering a rare combination of space and location. The home does need some TLC but provides excellent potential for future value. In addition, three adjacent parcels are available for separate purchase, creating even more opportunity for expansion or development. Whether you’re looking to enjoy a large lot in a desirable area or explore future investment options, this property is full of potential.
Sold for $500,000
Listed by: Abundance Real Estate • Misty Cochren • Contact: 951-244-4663
Bought with: Abundance Real Estate
$500,000
250 E Prospect St, Lake Elsinore, CA 92530
2beds
1,421sqft
Single Family Residence
Built in 1924
2.61 Acres Lot
$506,500 Zestimate®
$352/sqft
$2,690 Estimated rent
Home value
$506,500
$461,000 - $557,000
$2,690/mo
Zestimate® history
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$3,181/mo
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Zillow last checked:
Listing updated:
Listed by:
Misty Cochren DRE #01946178 909-214-2355,
Abundance Real Estate
Bought with:
Misty Cochren, DRE #01946178
Abundance Real Estate
Source: CRMLS,MLS#: SW25155368
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
- Main level bathrooms: 1
- Main level bedrooms: 2
Rooms
- Room types: Bedroom
Bedroom
- Features: All Bedrooms Down
Heating
- Central
Cooling
- None
Appliances
- Laundry: None
Features
- All Bedrooms Down
- Has fireplace: Yes
- Fireplace features: Living Room
- Common walls with other units/homes: No Common Walls
Interior area
- Total interior livable area: 1,421 sqft
Property
Parking
- Total spaces: 2
- Parking features: Garage
- Garage spaces: 2
Features
- Levels: One
- Stories: 1
- Entry location: main level
- Pool features: None
- Spa features: None
- Fencing: Privacy
- Has view: Yes
- View description: City Lights, Lake, Mountain(s)
- Has water view: Yes
- Water view: Lake
Lot
- Size: 2.61 Acres
- Features: 2-5 Units/Acre
Details
- Additional structures: Second Garage
- Additional parcels included: 373143003
- Parcel number: 373143002
- Zoning: R1
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Condition
- Fixer
- New construction: No
- Year built: 1924
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Hiking, Lake, Mountainous
- Security: Security Gate
Location
- Region: Lake Elsinore
Financial & listing details
- Price per square foot: $352/sqft
- Tax assessed value: $200,708
- Annual tax amount: $2,191
- Date on market: 7/10/2025
- Cumulative days on market: 46 days
- Listing terms: Cash,Conventional
- Inclusions: 2 parcels
Price history
| Date | Event | Price |
|---|---|---|
| 10/6/2025 | Sold | $500,000-9.1%$352/sqft |
Source:  CRMLS #SW25155368 Report a problem | ||
| 9/3/2025 | Pending sale | $550,000$387/sqft |
Source: CRMLS #SW25155368 Report a problem | ||
| 8/25/2025 | Price change | $550,000-21.4%$387/sqft |
Source: CRMLS #SW25155368 Report a problem | ||
| 7/11/2025 | Listed for sale | $700,000$493/sqft |
Source: CRMLS #SW25155368 Report a problem | ||
| 1/27/2013 | Listing removed | $1,100$1/sqft |
Source: Coldwell Banker Residential Brokerage - Murrieta #SW12139920 Report a problem | ||
| 11/14/2012 | Listed for rent | $1,100$1/sqft |
Source: Coldwell Banker Residential Brokerage - Murrieta #SW12139920 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,191 +4.6% | $200,708 +2% |
| 2024 | $2,094 +1.3% | $196,773 +2% |
| 2023 | $2,068 +2% | $192,916 +2% |
| 2022 | $2,028 +2% | $189,134 +2% |
| 2021 | $1,989 +1% | $185,426 +1% |
| 2020 | $1,970 +1.9% | $183,526 +2% |
| 2019 | $1,933 +1.9% | $179,928 +2% |
| 2018 | $1,896 +1.9% | $176,401 +2% |
| 2017 | $1,860 | $172,943 +2% |
| 2016 | $1,860 +4.9% | $169,553 +1.5% |
| 2015 | $1,773 +3.4% | $167,008 +2% |
| 2014 | $1,715 | $163,740 +0.5% |
| 2013 | -- | $163,002 +2% |
| 2012 | -- | $159,806 +2% |
| 2011 | -- | $156,673 +0.8% |
| 2010 | -- | $155,504 -0.2% |
| 2009 | -- | $155,875 +2% |
| 2008 | -- | $152,819 +2% |
| 2007 | -- | $149,823 +2% |
| 2006 | -- | $146,886 +2% |
| 2005 | -- | $144,007 +19.2% |
| 2003 | -- | $120,800 -11.1% |
| 2002 | -- | $135,881 +22.6% |
| 2001 | $1,202 +4.5% | $110,800 +5.5% |
| 2000 | $1,150 | $105,000 |
Find assessor info on the county website
Neighborhood: 92530
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Nearby schools
GreatSchools rating
- 3/10Railroad Canyon Elementary SchoolGrades: K-5Distance: 0.9 mi
- 3/10Elsinore Middle SchoolGrades: 6-8Distance: 0.9 mi
- 5/10Elsinore High SchoolGrades: 9-12Distance: 3.8 mi
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Estimated market value
$506,500
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Estimated market value
$506,500
- California
- Riverside County
- Lake Elsinore
- 92530
- 250 E Prospect St
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