2222 Bear Valley - Apartments FOR SALE


Escondido, CA 92027- Midway
$1,799,000 USD
760-814-0114
2222 Bear Valley, Escondido, CA for Sale
$1,799,000 USD
Apartments - FOR SALE
1/9
null | 5.1% Cap Rate

2222 Bear Valley
Escondido, CA 92027
Midway


HIGHLIGHTS

  • 80% Renovated Property
  • Easy cash flow without a lot of maintenance
  • Roof is less than 2 years old
  • Quiet neighborhood close to schools
  • No SB 721
  • Enclosed back patios with private entry from parking area to each unit

OVERVIEW

Easy cash flow opportunity in East Escondido. The Cambria Townhomes is a 5 unit apartment building that has been 80%(4 of the 5) renovated by the current ownership. Upgrades include but are not limited to quartz countertops in kitchens and baths as well as new cabinets, in unit washers and dryers, luxury vinyl plank flooring, dual pane vinyl windows, new exterior fencing for the back of the units, upgraded appliances and fixtures. Built in 1973, the property has spacious units with 3 of the 5 units townhouse style and the remaining 2 being flats. There is a direct entrance from the parking area into each unit for resident's convenience. The 5th unit was remodeled in 2018. Current ownership replaced the roof and fascia of the building in December 2023 and at the same time replaced the roof of the carports. There are RUBS in place that generate an additional $300 monthly offsetting the water, sewer, and trash expense. Walking distance to Orange Glen High School, this property is a cash cow with upside by completing the renovation of the 5th unit and raising rents over time knowing that there will be little ongoing maintenance due to the renovations. There are no balconies so no issues with SB 721. Discover the thriving business environment surrounding the property nestled in scenic Escondido, CA. This burgeoning area is a prime destination for Office / Office Building investors seeking growth opportunities. Positioned near popular destinations like the California Center for the Arts, Escondido, and the Westfield North County shopping center, the area offers a blend of commerce and culture. Accessible from major highways, and within close proximity to the vibrant city of San Diego, the location provides a dynamic backdrop for potential business expansion. With its proximity to a variety of amenities and attractions, the area presents an attractive opportunity for investing in the heart of San Diego's commercial landscape.

FOR SALE DETAILS

PRICE

$1,799,000 USD

PRICE/SF

$422 USD /SF

# OF UNITS

5

PRICE/UNIT

$359,800

CAP RATE

5.1%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cambria Townhomes

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,682 SF

ZONING

R3

APN/PARCEL ID

231-091-07

ASK ABOUT THIS PROPERTY

Gary KaufmanSouth Coast Commercial, Inc.More Info
760-814-0114

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Gary KaufmanSouth Coast Commercial, Inc.More Info
760-814-0114

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.