28857 Lake, Lake Elsinore, CA 92530
Riverside County
Key Facts
Description
**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.
Property Information
Property Type
Land
Lot Size
4.50 acres
Zoning
COML
Days on Market
130
MLS® Listing#
OC26029361
Property Features
Water Source
Financial Details
HOA
None
Parcel Number
389030029
Directions
North East corner at Lake Street and Running Deer Road
Affordability Calculator
$520,000
Estimated monthly payment
$13,838/mo
Principal $2,080,000 · Est. interest $2,901,785 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Lake Elsinore, CA
- $661,139
- Median Listing Price
- 69
- Median Days on Market
- 1,840
- Median Sq Ft
- $389
- Median Price / Sq Ft
- 1,821
- Active Listings
- This home’s price is 293% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Lake Elsinore, CA.
Location
Points of Interest in Lake Elsinore, CA
Showing the Lake Elsinore area map.
Nearby Schools
Little Farm Preschool
School · 0.3 mi away
Terra Cotta Middle School
Secondary · 0.4 mi away
Rice Canyon Elementary School
Elementary · 0.7 mi away
Withrow Elementary
Elementary · 1.2 mi away
Machado Elementary School
Elementary · 1.3 mi away
River Springs Charter School
School · 1.6 mi away
Lakeside High School
Secondary · 2.1 mi away
Temescal Canyon High School
Secondary · 2.4 mi away
TCHS
Secondary · 2.4 mi away
Lake Elsinore Unified School District
School · 2.7 mi away
Elsinore Naval & Military School
School · 3.0 mi away
Valley Adult School
School · 3.3 mi away
Ortega High School
Secondary · 3.3 mi away
Lake Elsinore Unified School District
Elementary · 3.3 mi away
Elsinore Middle School
Secondary · 3.4 mi away
Keith McCarthy Academy
School · 3.4 mi away
Butterfield Elementary School
Elementary · 3.6 mi away
Mountainside Academy
School · 3.7 mi away
Elsinore Elementary
Elementary · 3.8 mi away
Earl Warren Elementary School
Elementary · 4.2 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 133 Denali, Lake Forest, CA | $1,829,000 | 4 | 5 | 3,404 |
| 17392 LOS ALISOS, Lake Elsinore, CA | $1,849,000 | 6 | 4 | 4,299 |
| 30405 Golden Gate, Canyon Lake, CA | $1,849,000 | 4 | 4 | 4,000 |
| 42112 Big Bear Boulevard, Big Bear Lake, CA | $1,850,000 | — | — | 2,214 |
| 265 Garden Drive, Lake Arrowhead, CA | $1,850,000 | 5 | 5 | 3,500 |
| 220 Amber Oak, Lake Forest, CA | $1,850,000 | 4 | 3 | 2,304 |
Moving Cost Estimate
EXIT Agents in Lake Elsinore
Listing Courtesy: Real Estate Source, Inc - 323-842-4991
Presented by: Genesis White
Licensed in the state of California.