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$2,400,000
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Property Description
HISTORIC LAKE VIEW PROPERTY | 2 PARCELS | 5 BEDROOMS | SEPARATE 1,300± SF STRUCTURE | MIXED-USE ZONING
Rare opportunity to own a historic Lake Elsinore property with stunning, unobstructed lake views and exceptional potential. The main residence offers 5 bedrooms and 2 bathrooms, featuring 3 bedrooms downstairs and 2 bedrooms upstairs. The spacious interior includes two separate living areas, original cedar beam ceilings, crown molding, original cedar wood floors, a charming parlor, built-in china cabinet, and 3 fireplaces with original granite stone. All rooms have potential of being converted to commercial office area, restaurant, retail shops etc etc THE POSSIBILITIES ARE ENDLESS. Central A/C and heat and updated copper plumbing add modern convenience while preserving the home's historic character. The primary suite features panoramic lake views and a private balcony.
The property also includes a separate structure with its own address at 125 Library St. The structure has a separate electric meter, new electrical box and electrical installation, and shares a water meter with the main house. Seller states the structure is grandfathered as a second unit. This structure is unfinished and can be converted to Residential or Commercial use.
Both parcels are included or can be sold separately.
The property is located within a mixed-use zoning designation, offering potential for a variety of residential and commercial uses, subject to city approval and applicable zoning regulations. Potential uses to investigate may include residential, office, retail, coffee shop, restaurant, boutique, hotel, church, spa, and other mixed-use concepts.
Conveniently located in the Historic heart of Lake Elsinore, within walking distance to the lake and minutes from the 15 Freeway. NO HOA and low taxes. A unique opportunity for an owner-user, investor, or buyer seeking a property with historic character, lake views, multiple structures, and future potential.
Full Property Details
Full Property Details for 228 S Spring
General
- Price: $2,400,000
- Status: Active
- Type: Single Family
- Source: MRMLS
- MLS ID: IG26203297
- Updated: 9/22/2026
- Days on Market: 22 days
- Added to Site: 22 day(s) ago
Interior
- Rooms/Areas: Formal Entry, Utility Room, Separate Family Room, Laundry, Bonus Room, Kitchen, Living Room, Family Room
- Interior Features: Balcony
- Fireplace: Yes
- Fireplace(s): Living Room, Family Room, Den
Rooms
Bathrooms
- Total Bathrooms: 3
- Full Bathrooms: 3
Bedrooms
- Total Bedrooms: 7
Other Rooms
- Laundry: Individual Room
Additional Information
- Pool Description: None
Parking
- Garage: Yes
- Garage Spaces: 2
Location
- County: Riverside
- Driving Directions: 15fwy south exit Main turn right and right on Lakeshore Dr Right on Spring
School Information
- School District: Lake Elsinore Unified
Community
- Community Features: Fishing, Lake
Heating & Cooling
- Cooling Type: Central Air
- Heating Type: Central
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Structure Type: Single Family Residence
- Common Walls: No Common Walls
- Entry Location: lower level
- Stories/Levels: One
- Stories Description: One
- Square Feet: 3,823
- Sq. Ft. Source: Assessor
- Year Built: 1942
- Year Built Source: Assessor
Lot Features
- Property View: Mountain(s), Lake, Park/Greenbelt
- Lot Size (Acres): 0.17
- Lot Size (Sq. Ft.): 7,405
- Lot Size Source: Assessor
- Zoning: Multi use
- Lot Description: 0-1 Unit/Acre
Financial Considerations
- Price Per Sq. Ft.: $627.78
Disclosures and Reports
- Special Conditions: Standard
Listed by Century 21 Masters, Leticia Vega
Get Pre-Approved Today
Schools
Schools serving 228 S Spring
School District:Lake Elsinore Unified School District
| Name | Grades | Distance |
|---|---|---|
Elsinore Elementary School 512 West Sumner Avenue, Lake Elsinore, CA 92530 | K-5 | 0.5 mi |
Elsinore Middle School 1203 West Graham Avenue, Lake Elsinore, CA 92530 | 6-8 | 0.8 mi |
Temescal Canyon High School 28755 El Toro Road, Lake Elsinore, CA 92532 | 9-12 | 2.8 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 228 S Spring
Date
Details
Price
Change
Source
9/16/2026
Listed
$2,400,000
275%
MLS
3/07/2021
Sold
$640,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 228 S Spring
Year
Property Taxes
Change
Tax Assessment
Change
2025
$959
—
$88,324
2%
2025
$959
4%
$86,593
2%
2024
$918
1%
$84,896
2%
2023
$907
669%
$83,232
1073%
2022
$118
2%
$7,093
2%
2021
$116
—
$6,954
1%
2020
$116
2%
$6,883
2%
2019
$114
1%
$6,749
2%
2018
$113
1%
$6,617
2%
2017
$112
3%
$6,488
2%
2016
$109
1%
$6,361
2%
2015
$108
2%
$6,266
2%
2014
$106
—
$6,145
—
2013
$106
—
$6,118
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 228 S Spring
228 S Spring, Lake Elsinore, CA 92530 (MLS# IG26203297) is a Single Family property with 7 bedrooms and 3 full bathrooms. 228 S Spring is currently listed for $2,400,000 and was received on September 16, 2026. Want to learn more about 228 S Spring? Do you have questions about finding other Single Family real estate for sale in Lake Elsinore? You can browse all Lake Elsinore real estate or contact a Coldwell Banker agent to request more information.

