331 Washington, Escondido, CA 92025
- $3,699,000
- List Price
- $3,699,000
- Status
- ACTIVE
- MLS#
- OC26160522
- Year Built
- 1988
- Lot Size
- 14,747
- Acres
- 0.34
- Lot Location
- 6-10 Units/Acre
- Days on Market
- 5
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Neighborhood
- East Escondido
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.
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Additional Information
- Pool Description
- None
- Sewer
- Private Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 11
- Gross Scheduled Income
- $287,148
- Operating Expense
- 82142
Listing courtesy of Listing Agent: Pat Swanson (pat.swanson@streamrealty.com) from Listing Office: Pat Swanson.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.