355 Lansing Cir - Apartments FOR SALE


Escondido, CA 92025
$1,399,000 USD
858-729-3094
355 Lansing Cir, Escondido, CA for Sale
$1,399,000 USD
Apartments - FOR SALE
1/10
null | 5.1% Cap Rate

355 Lansing Cir
Escondido, CA 92025


HIGHLIGHTS

  • Large 875 Sq Ft 2Bd/1Ba Units
  • Significant Rental Upside
  • 4 Garages
  • Possible ADU Conversion
  • High Demand Apartments
  • Located in an Opportunity Zone

OVERVIEW

Large 2 bedroom/1 bath units in a rapidly gentrifying, quiet, unique HOA community of sixteen 4-plexes. All the units were rehabbed over the last few years. Tenants move in and almost never leave. Upside on the rents. Four large single car garages. Potential to turn one or more of the garages into ADU. (Already happening in the neighborhood). The building has its own laundry room with coin operated washer/dryer. Additional storage room for owner. The HOA pays for common area landscape/maintenance, trash, and an onsite manager. Located in an opportunity zone. Property can be purchased individually or with another 4-plex at 340 Lansing Circle. Buyer to cooperate with sellers 1031 exchange.

FOR SALE DETAILS

PRICE

$1,399,000 USD

PRICE/SF

$399 USD /SF

# OF UNITS

4

PRICE/UNIT

$349,750

CAP RATE

5.1%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,339 SF

ZONING

R-3

APN/PARCEL ID

229-311-09

ASK ABOUT THIS PROPERTY

Cody EvansSouth Coast Commercial, Inc.More Info
858-729-3094

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Cody EvansSouth Coast Commercial, Inc.More Info
858-729-3094

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