331 WashingtonEscondido, CA 92025
East Escondido · San Diego County
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 5.56% 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.
Property Information
- Property type
- Residential Income
- Sub-type
- Apartment
- Year built
- 1988
- Stories
- 2
- Building area
- 8,700 Sq Ft
- Lot size
- 0.34 acres
- Parking spaces
- 22
- Days on market
- 66
- MLS® Listing#
- OC26160522
Property Features
- Pool
- None
- Laundry
- Common Area
- Community
- Curbs · Street Lights · Suburban · Sidewalks
- Sewer
- Private Sewer
- Water source
- Public
- Parcel number
- 2293107500
Directions
Google Maps Please
Listing Courtesy: Pat Swanson - 213-864-2862
Presented by: Pat Swanson
Licensed in the state of California.
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