$199,999
●
Land -
For Sale
23930 Beverly
Menifee, CA 92587
Studio
0 Bath
$983
Est. Monthly
About This Property
Rare opportunity to own 1.32 acres of scenic, usable land in
beautiful Canyon Lake, offering a peaceful rural-residential
setting with expansive valley and hillside views. This parcel has
been professionally engineered and graded with permits, featuring a
flat building pad ready for construction, allowing a buyer to move
forward with plans without delay. A water connection has already
been developed on the property, and a cemented storm drain system
has been installed for proper drainage. In addition, the owners
have already paid to have an official address assigned to the
property, eliminating another step and expense for the new buyer -
a meaningful time-saver when preparing to build. Ideally located
near great schools, dining, and shopping, this property offers both
privacy and convenience. Call now before this property sells.
Unit Size
-
Days on Market
306 days
Land Size
1.32 acres
Price per sqft
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Property Type
Land
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Listed By
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100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 4 months ago (CRMLS #SW25277878)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 18, 2025 | Listed by Impact Real Estate | $199,999 | |
| Listed by Impact Real Estate | |||
| Apr 14, 2023 | No longer available | - | |
| No longer available | |||
| Aug 10, 2022 | Price Decreased |
$200,000
↓ $20K
(9.1%) | |
| Price Decreased | |||
| Apr 21, 2022 | Listed by Proper Real Estate | $220,000 | |
| Listed by Proper Real Estate | |||
| | |||
|
Welcome to beautiful Canyon Lake. Now is your opportunity to own 1.32 Acres of peaceful country land. Water connection has been developed and is ready on the property. Bring your horses and park your toys. The flat pad is ready to build your California dream. Cemented storm drain also developed on the land. Manufactured homes permitted. The possibilities are your to choose as this property is zoned for 1-5 units. Great opportunity to live near multiple lakes, trails, golf course, nature and near the award winning wineries of Temecula.
| |||
Property Highlights
Exterior Details
Lot Features: ZeroToOneUnitAcre
Lot Size Area: 57499
Lot Size Units: Square Feet
Lot Size Acres: 1.32
Lot Size Square Feet: 57499
Water Source: Public
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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Type
Beds
Baths
ft²
Price/ft²
Price/ft²
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Listed On
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Sold On
Sold On
HOA + Taxes
About Menifee
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Listed by: Salvador Correa, Impact Real Estate
Last Updated: 4 months ago
Data Source: CRMLS, MLS# SW25277878
Last Updated: 4 months ago
Data Source: CRMLS, MLS# SW25277878
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