16459 Joy St, Lake Elsinore, CA, 92530
About This Home
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 carport. Strategically situated near Lake Elsinore's scenic waterfront, the property is within walking distance to Machado Elementary School and proximate to Lakeside High School. Riverside Drive offers easy access to local retailers, restaurants, and grocers, while Interstate 15 provides seamless connectivity to regional employment hubs. With two units currently vacant, this property is ideal for owner-occupants seeking a prime location with growth potential. A comprehensive renovation plan can unlock significant rental premiums, capitalizing on strong demand for quality multifamily housing in this desirable SoCal market.
Getting Around
Very Walkable
Very Limited Transit
BikeableSchools
Construction
Condition
- Year built: 1984
Type & Style
- Home type: MultiFamily
- Property subType: Mixed Use
Interior
Appliances
- Laundry features: Washer Hookup,Gas Dryer Hookup
Features
- Common walls with other units/homes: No Common Walls
Heating
- Heating features: Central
Interior Area
- Total structure area: 14,500
- Total interior livable area: 14,500 sqft
Property
Details
- Parcel number: 379132006
- Special condition: Standard
Features
- Levels: Two
- Stories: 2
- Entry location: 1
- Pool features: None
Lot
- Lot size: 0.60 Acres
- Features: 0-1 Unit/Acre
Parking
- Total spaces: 20
- Parking features: Carport,Driveway,Garage
- Has garage: Yes
- Attached garage spaces: 18
- Covered spaces: 20
- Carport: Yes
- Carport spaces: 2
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Inland Flooding
- Earthquake
- Heat Wave
- Wildfire
How This Home’s Risks Compare
FEMA Declared Disasters in Riverside County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $20,226 | $242,712 |
| Home Insurance * | $1,092 | $13,104 |
| Property Taxes | $2,766 | $33,192 |
| Electricity | $3,109 | $37,312 |
| Total | $27,193 | $326,316 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-10 | Listed for sale | $4,000,000 |
| 2024-07-15 | Sold | $2,750,000 |
| 2024-05-13 | Pending sale | $2,750,000 |
| 2024-04-22 | Contingent | $2,750,000 |
| 2024-03-26 | Listed for sale | $2,750,000 |
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