$2,600,000
**Prime Residential & Commercial Development Opportunity – Lake Elsinore**
Exceptional opportunity to acquire a **multi-parcel property totaling approximately 4.5+ acres** in the heart of Lake Elsinore’s expanding residential and commercial corridor. Strategically located on the **northeast corner of Lake Street and Running Deer Road**, the property sits within **2.5 miles of Interstate 15** and is surrounded by high-density residential growth and active commercial development.
The property consists of **two residential/land parcels**:
* A **3.6-acre lot** with an existing manufactured home that may be remodeled for comfortable living or removed to align with future development plans.
* A **0.91-acre lot** featuring multiple existing structures, offering additional flexibility for redevelopment or income-producing improvements.
These parcels are part of a larger commercially zoned footprint totaling approximately 4.5 acres, zoned **C2 General Commercial**, allowing for a wide range of uses permitted under C0, C1, and C2, zoning classifications. This zoning provides exceptional flexibility for retail, service, mixed-use, or complementary residential-supporting development.
The site is part of a broader **10-acre commercially zoned area** and is located adjacent to a planned commercial project currently in final entitlement on approximately 6 acres to the south at Mountain Street and Lake Street. The approved development includes an approximately 32,000-square-foot retail center with a fuel station, in-line retail buildings, a quick-serve restaurant, and a drive-thru restaurant—further strengthening the area’s long-term growth potential.
This property is **ideal for investors and developers** seeking a value-add opportunity in a high-visibility location with strong residential demand, flexible zoning, and immediate proximity to future commercial anchors.
OC26029361
MLS
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Active
Status
28857 Lake, Lake Elsinore
