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$ 3,699,000
Est. payment | /mo
0.34 Acres Lot
$ 3,699,000
Est. payment | /mo
0.34 Acres Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision East Escondido
MLS Listing ID OC26160522
HOA Y/N No
Year Built 1988
Lot Size 0.338 Acres
Property Sub-Type Apartment
Property Description
This 1988 constructed complex is down the street from Downtown Escondido, and consists of (10) 2 Bedroom Units, plus a non-conforming studio. All units have been recently renovated, providing a low-maintenance investment with immediate cash flow. The property offers a 5.31% current cap rate with upside. Situated in a highly walkable location with a 90 Walk Score, the property is just 0.4 to 0.6 miles from Downtown Escondido's restaurants, retail, and entertainment. The surrounding area boasts an average household income of approximately $103,000, while homeownership costs are approximately double the average apartment rent. Additionally, the property is not subject to local rent control, providing greater operational flexibility for future ownership.
Location
State CA
County San Diego
Area 92025 - Escondido
Interior
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 12
Pool None
Community Features Curbs, Street Lights, Suburban, Sidewalks, Urban
Total Parking Spaces 22
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Sewer Private Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 2293107500
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
Lease Land No
Listed by Pat Swanson Pat Swanson 213-864-2862, DRE #01382974
NEARBY SCHOOL & BUSINESS