$3,649,000
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.
Listed by Pat Swanson with Pat Swanson (949) 724-5564
Property Type
Apartment
Status
Active
MLS Number
OC26160522
Year Built
1988
Lot Size
0.34 acres
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3135 E Valley Pkwy, Escondido
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