1
Map
$435,000
●
House -
Off Market
32989 Pepper Drive
Lake Elsinore, CA 92530
2 Beds
2 Baths
968 Ft²
$2,137
Est. Monthly
$1
HOA / Fees
About This Property
HUGE PRICE REDUCTION!
Welcome to a home that feels easy to settle into from the moment you arrive. Just a short walk from Lake Elsinore, this charming two-story property offers the added perk of private access to the lake, making morning strolls, sunset views, and weekend outings feel wonderfully close.
Inside, you'll find a thoughtful layout with 2 bedrooms and 2 bathrooms, a beautiful kitchen, and tile flooring throughout the main living areas. The bedrooms feature gorgeous, upgraded flooring and offer generous space for comfort and relaxation. The living room brings warmth with its cozy fireplace and built-in speakers, creating a perfect setting for movie nights or quiet evenings at home.
One of the standout features is the second floor den above the garage, finished with vinyl flooring and offering a spacious, flexible area ideal for a home office, studio, game room, or creative retreat.
A welcoming home with character, comfort, and the added joy of being so close to the lake.
Private access to the lake is one of the perks of this community, giving residents an added benefit for outdoor activities, scenic views, and peaceful surroundings.
Welcome to a home that feels easy to settle into from the moment you arrive. Just a short walk from Lake Elsinore, this charming two-story property offers the added perk of private access to the lake, making morning strolls, sunset views, and weekend outings feel wonderfully close.
Inside, you'll find a thoughtful layout with 2 bedrooms and 2 bathrooms, a beautiful kitchen, and tile flooring throughout the main living areas. The bedrooms feature gorgeous, upgraded flooring and offer generous space for comfort and relaxation. The living room brings warmth with its cozy fireplace and built-in speakers, creating a perfect setting for movie nights or quiet evenings at home.
One of the standout features is the second floor den above the garage, finished with vinyl flooring and offering a spacious, flexible area ideal for a home office, studio, game room, or creative retreat.
A welcoming home with character, comfort, and the added joy of being so close to the lake.
Private access to the lake is one of the perks of this community, giving residents an added benefit for outdoor activities, scenic views, and peaceful surroundings.
Unit Size
968 Ft²
Days on Market
81 days
Land Size
0.07 acres
Price per sqft
$449
Property Type
House
Property Taxes
-
HOA Dues
$1
Year Built
1964
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Cap Rate
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: 24 hours ago (CRMLS #SW26149323)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 2, 2026 | Sold | ||
| Sold | |||
| Oct 6, 2026 | In contract | - | |
| In contract | |||
| Sep 2, 2026 | Price Decreased |
$435,000
↓ $15K
(3.3%) | |
| Price Decreased | |||
| Aug 13, 2026 | Listed by Realty Masters & Associates, I | $449,900 | |
| Listed by Realty Masters & Associates, I | |||
| Feb 4, 2025 | Listed | $499,900 | |
| Listed | |||
| | |||
|
Welcome to this charming 2-bedroom, 2-bathroom home, offering the perfect blend of comfort, convenience, and lakeside living. Located within a vibrant community, this home provides exclusive access to the lake, where you can easily park your boat or enjoy the serene surroundings of nearby parks. The bright, open-concept living space flows effortlessly into a modern kitchen with sleek tile floors, ideal for cooking and entertaining. The spacious primary bedroom includes an en-suite bath, while the second bedroom and additional full bath provide plenty of space for family or guests. Upstairs, a versatile room awaits, perfect for an office or guest retreat. A two-car garage adds practical storage, while the home’s prime location keeps you close to shopping, dining, and recreational activities. This property is an ideal choice for those seeking a relaxing yet connected lifestyle.
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Property Highlights
Garage
Air Conditioning
Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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About Lakeland Village
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Listed by: Arturo Aguilar, Realty Masters & Associates, I
Last Updated: 24 hours ago
Data Source: CRMLS, MLS# SW26149323
Last Updated: 24 hours ago
Data Source: CRMLS, MLS# SW26149323
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