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Listed by Pat Swanson, DRE #01382974 • Pat Swanson
$ 3,649,000
Est. payment /mo
Price Dropped by $50K
331 Washington Escondido, CA 92025
0.34 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26160522
Year Built 1988
Lot Size 0.339 Acres
Source California Regional MLS
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 Facility
Exterior
Garage Spaces 22.0
Pool None
Building
Water District - Public
Others
Special Listing Condition Not Applicable
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