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23524 Pico Avenue, Menifee, CA 92585

$3.95M4bd · 3ba · 1,609 sqft
Lot 19 sqft•Single Family Residence•
Active
•105d on market•MLS# SW-26142842

Property Description

Unbelievable Opportunity on 18.56 Acres! Endless possibilities await with this exceptional 18.56-acre property offering space, versatility, and incredible investment potential. The charming 1,609-square-foot home, built in 1961, features four bedrooms, two bathrooms, a spacious living room, a cozy family room with a fireplace, and a screened-in porch—perfect for relaxing and enjoying the peaceful surroundings. With a 2 car attached garage. Also located on the property is an impressive 6,000-square-foot commercial-style shop complete with five private offices, a reception area, and a bathroom. The property includes 10 parking spaces, including one ADA-compliant space, making it ideal for a variety of business or commercial uses. Additional improvements include three septic systems and two outbuildings, providing even more flexibility for future use. There are two alarm systems, one on home and one on Building. SELLER MIGHT BREAK UP INTO 3, 5 ACRE PARCELS AND 1 PARCEL WITH HOME AND WAREHOUSE 3.6 ACRES Currently zoned RA (Rural Agricultural), this property offers outstanding potential for farming, equestrian use, livestock, or creating your own private ranch. With future development, the land may also present exciting opportunities for residential expansion or a planned neighborhood, subject to county approval. Sewer is about 1200 ft. from property. Whether you're looking for a working ranch, a business headquarters, an agricultural investment, or a property with exceptional development potential, this one-of-a-kind estate is ready to bring your vision to life. Some photos have been AI enhanced, Buyer to do their own due diligence about information of this property, going to the county, looking up permits etc!!!!!!

Features & Amenities

FeeBuilt 1961

Property Details

Land Type
Fee
Year Built
1961
Property Type
Residential
Property Subtype
Single Family Residence
Parking Spaces
13
Garage Spaces
2
Heating
Central, Fireplace(s)
Cooling
Central Air, Whole House Fan
View
Mountain(s)
Flooring
Vinyl, Carpet, Tile
Roof
Composition
City
Menifee
Zip Code
92585
County
Riverside
Listed byRe/Max Diamond Prestige, Kathy Vineyard

Mortgage Calculator

Current Rates

$
$
%
Monthly Payment
$19,973.35
Principal & Interest
Loan Amount
$3,160,000
Total Interest
$4,030,406
Total Payment Over 30 Years
$7,190,406
This calculator provides estimates only. Actual mortgage payments may include taxes, insurance, HOA fees, and PMI. Contact a lender for accurate quotes.

Comparative Market Analysis

Luxury Tier · 5 active · 5 closed

23524 Pico Avenue, Menifee, CA 92585

Menifee · Single Family Residence

$3.95M
Luxury Tier
Beds
4
Baths
3
Sqft
1,609
Lot
18.60 ac
Year
1961
$/Sqft
$2455
Pool: No✓
Spa: No✓
View: mountain✓
Garage: 2-car✓

Listed 527.0% above the median closed sale of $630,000. Price per sqft ($2,455) is a 635% premium to closed comps ($334). Luxury tier — fewer comparable sales widen the confidence range.

Price Position

Positioned above the market — commands a premium.

Premium
Subject listed at $3.95M· $2,455/sqft
Total list price
Closed comps
vs closed median $630K
+$3.32M (+527.0%)
Active comps
vs active median $419K
+$3.53M (+842.7%)
Price per sqft
Closed compsinsufficient comp data
Active comps
vs active avg $/sqft $376
+$2K (+552.2%)

Active Properties (5)

Active Comparables

AddressCityYearBDBTHSqFtLotSzLP/SqFtLPDIMScore
29688 Via NaravillaMenifee1988321,3237,405$453$599,900958
23870 Lodge DriveMenifee1937321,20010,018$346$415,000857
27704 Doreen DriveMenifee1990321,1576,098$432$499,99910855
28192 OrangegroveMenifee1990321,2063,485$347$419,0002949
26790 Oakmont DriveMenifee1964321,3087,405$304$398,000344
Total: 5 · Average3.02.01,238.86,882.2$376.4$466,379.831.4
Median1,206$419,000

Closed Properties (5)

Closed Comparables

AddressCityYearDateBDBTHSqFtLotSzLPSPSP/SqFtSP/LPDIMScore
24255 InsigniaMenifee202109/28/2026421,9027,405$650,000$630,000$3310.9710769
25431 Hitch Rail LaneMenifee201610/01/2026421,8606,970$625,000$630,000$3391.015560
30144 Adrift LaneMenifee202410/07/2026331,8602,614$529,000$510,000$2740.969160
33577 Daily RdMenifee201810/06/2026332,083108,900$895,000$885,000$4250.9912359
26611 MountaingateMenifee201810/07/2026321,8957,405$569,900$574,000$3031.013358
Total: 5 · Average3.42.41,92026,658.8$645,800$645,800$334.4—81.8
Median1,895$630,000$630,000

Market Analysis

List vs Sale $/SqFt

Sale Price Trend

Days on Market

Sale vs List Price

AI-generated CMA

This analysis was generated automatically from MLS data. For an in-depth, human-reviewed valuation, contact Joseph Sardella at josephsardella@gmail.com.