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Listed by Pat Swanson • Pat Swanson
$3,699,000
Est. payment /mo
8,700 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 8,700 sqft
Price per Sqft $425
Subdivision East Escondido
MLS Listing ID OC-26160522
Year Built 1988
Lot Size 0.339 Acres
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
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
Laundry Community
Exterior
Pool None
Community Features Curbs, Sidewalks, Street Lights, Suburban, Urban
Building
Lot Description 6-10 Units/Acre
Sewer Private Sewer
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Nearby Locations
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900