31524 Railroad Canyon Road, Canyon Lake, CA 92587

$685,000 Approx. USD 0 beds, 0 baths
4,041 sqft

Agent Remarks

Well maintained, multi-unit commercial space in the Canyon Lake Towne Center. Prime location next to the Chamber of Commerce, POA, and Police Department. Currently divided into 6 rental spaces with a 20year plus long term frontage tenant. All units have private bathrooms and off street entrances. New exterior paint and Newer Atlas Foam roof. Units current market rental value is $1.25-$1.30 per sqft. (As of 3/16) Current property rental rates are below market value at a average of $1.10 per sqft. (range from $.86-$1.54) This is a great opportunity to increase the income potential. Current yearly gross income $49,872 Potential (at $1.27persqft) $59,329. Current tenants include: Focus Financial (leased until 9/1/17), Carmen Morin Party planning(leased until 9/1/17), Headliners hair salon(leased until 9/1/17), Harrison Development(leased until 5/1/17. This tenant rents both unit 4 and 5), and Easy Driving Inc.(leased until 9/1/17) *other yearly cost of $1910 is the POA lot assesment tax. This covers the common area grounds and parking lot of the canyon lake town center.

Listing Details

Property type: RET (Commercial)
Status: Active
MLS# SW16049498
List price is $685,000 Reduced by $14,000 on 7/22/2016
Beds: 0
Baths: 0
Built in 1978
4,041 sqft
0.08 acres
Lot size: 3696.000
County: Riverside
Heating description: Forced Air
MLS area: 236 - Canyon Lake

Last Updated: 10/14/2016

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This listing belongs to the 236 - Canyon Lake MLS area

Lat/Long: 33.672375, -117.251480.
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Broker: Courtesy of Heather Carroll Homes
Listing Agent: Susan Carroll

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Total population of , which has changed by % since 1990.
The median age of the population is , while the median age of dwellings is .
Out of households, are families.

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