331 Washington, Escondido, CA 92025
331 Washington, Escondido, CA 92025
331 Washington, Escondido, CA 92025
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$3,699,000
Est. payment /mo
0.34 Acres Lot
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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision East Escondido

MLS Listing ID OC26160522

HOA Y/N No

Year Built 1988

Lot Size 0.338 Acres

Property Sub-Type Apartment

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

Fireplace No

Laundry Common Area

Exterior

Carport Spaces 12

Pool None

Community Features Curbs, Street Lights, Suburban, Sidewalks, Urban

Total Parking Spaces 22

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 2

Sewer Private Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 2293107500

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

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Listed by Pat Swanson Pat Swanson 213-864-2862, DRE #01382974

NEARBY SCHOOL & BUSINESS

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