Price Reduced Listing
331 Washington,Escondido, CA 92025
Escondido, CA 92025
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.
Details
| MLS # | OC26160522 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1988 |
| Days On Site | 44 |
| Listing Provided By | Pat Swanson | Pat Swanson |
Features
| SQ Feet | 8,700 |
|---|---|
| Car Port | Yes |
| Story(s) | 2 |
| Units | 11 |
| Building(s) | 1 |
| Acreage | 0.34 |
Exterior
| Lot Features | Six To Ten Units Acre |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Private Sewer |
|---|
Location
| Community Features | Curbs, Street Lights, Suburban, Sidewalks, Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | San Diego |
| City | Escondido |
| Zip Code | 92025 |
| Area | 92025 Escondido |
| Community Name | East Escondido |
| Listing VS Median (in East Escondido) | |
Price: $3,645,000 low | high Med: $749,000 sqft: 8,700 low | high Med: 1,350 $ / sqft: $419 low | high Med: $555 On site: 44 low | high Med: 23 | |
Market Activity 92025
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Learn More About This Property
| State | CA |
|---|---|
| County | San Diego |
| City | Escondido |
| Zip Code | 92025 |
| Area | 92025 Escondido |
| Community Name | East Escondido |
| Listing VS Median (in East Escondido) | |
Price: $3,645,000 low | high Med: $749,000 sqft: 8,700 low | high Med: 1,350 $ / sqft: $419 low | high Med: $555 On site: 44 low | high Med: 23 | |