$4,000,000
16459 Joy Street, Lake Elsinore CA 92530
Multi-Family (10 Units)
Property type
3 days
On market
$276
Price per sqft
18 cars
Garage
1984
Year built
26,136 sqft
Lot size
Home highlights
Open Houses
Overview
16459 Joy Street presents a compelling multifamily investment opportunity in Lake Elsinore, CA. This 10-unit property features spacious three-bedroom townhome-style units with premium amenities, including central air and heat, private patios, and in-unit laundry hookups. Residents appreciate the convenience of private two-car garages, driveways, and some units even featuring a...
Listing provided by: Vince Kwon DRE #01778421 626-374-5121, IRN Realty
Listing updated: Jun 2, 2026 at 11:11pm.
Last checked: Jun 2, 2026 at 11:30pm
Source: CRMLS #TR26120102
Multi-family Analysis
Unit Information
| Units | Beds | Baths | Garage | Actual Rent | Total Rent | Pro Forma | Furnished? |
|---|---|---|---|---|---|---|---|
| 1 | 3 | 3 | — | $2,231 | $2,231 | $2,500 | Unfurnished |
| 1 | 3 | 3 | — | $2,600 | $2,600 | $2,700 | Unfurnished |
| 1 | 3 | 3 | — | $2,022 | $2,022 | $2,500 | Unfurnished |
| 1 | 3 | 3 | — | $2,700 | $2,700 | $2,700 | Unfurnished |
| 1 | 3 | 3 | — | $2,500 | $2,500 | $2,700 | Unfurnished |
| 1 | 3 | 3 | — | $2,600 | $2,600 | $2,700 | Unfurnished |
| 1 | 3 | 3 | — | $2,231 | $2,231 | $2,500 | Unfurnished |
| 1 | 3 | 3 | — | $2,231 | $2,231 | $2,500 | Unfurnished |
| 1 | 3 | 3 | — | $2,177 | $2,177 | $2,500 | Unfurnished |
| 1 | 3 | 3 | — | $2,450 | $2,450 | $2,500 | Unfurnished |
# of Buildings: 3
# of Units Total: 10
Separate Electric Meters: 10
Separate Gas Meters: 10
Separate Water Meters: 10
Rent Control: No
Units Leased: 10
Total Actual Rent: $23,742
Tenant Pays: Electricity, Gas, Water
Financial Snapshot
Gross Rent Multiplier
14.0x
List Price / Annual Gross Rent
Cap Rate
5.62%
NOI / List Price
Gross Scheduled Income: $284,904
Operating Expense: $59,933
Net Operating Income: $224,971
Annual Operating Expenses
Electric: $600
Gardener: $960
Fuel: $0
Insurance: $8,000
Licenses: $0
Maintenance: $0
New Taxes: $29,542
Pest Control: $1,751
Pool: $0
Professional Management: $12,000
Supplies: $0
Trash: $7,080
Water / Sewer: $0
Workers Comp: $0
Interior
Heating: Central
Laundry: Washer Hookup, Gas Dryer Hookup
Entry Location: 1
Exterior
Property Attached: No
Stories Total: 2
Levels: Two
Common Walls: No Common Walls
Lot Features: Zero To One Unit Acre
Pool: None
Water Source: Public
Sewer: Public Sewer
Garage and Parking
Parking: Carport, Driveway, Garage
Garage Spaces: 18
Carport Spaces: 2
Parking Total: 20
Lot Information
Land Lease: No
Common Interest: CommunityApartment
Parcel #: 379132006
Additional Parcels: No
Tax Lot: 1
Community
HOA: No
HOA Fee: $0
Senior Community: No
Community Features: Curbs, Gutters, Sidewalks
Nearby Schools
Nearby schools around the 16459 Joy Street, Lake Elsinore, CA 92530. Contact the school or district directly to verify enrollment eligibility.
Payment Calculator
Total Principal
$3,200,000
Total Interest
$4,081,424
Total Payment
$7,281,424
Payoff Date
Jun 2056
PMI is disabled automatically when your down payment is 20% or more.
Est. Payment
$24,543
per month
Property History for 16459 Joy Street
Lake Elsinore Market Snapshot
Market stats compare this property with recent MLS activity for similar property types in 92530.
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