273 Hillcrest Dr
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273 Hillcrest Dr
7 Unit Apartment Building $4,100,000 ($585,714/Unit) 5.14% Cap Rate Encinitas, CA 92024
Investment Highlights
- 7 Unit multi-family property in Encinitas
- West of 5 location
- Close proximity to North County San Diego's best beaches
- Highly Desirable Rental Units
- Little to no vacancy
Executive Summary
Rare opportunity in the heart of Leucadia to own (7) seven units, all located on a .4-acre flat usable lot west of Interstate 5. Over 3600 total sq. feet of living space. Units consist of (1) 2-bedrooms, 2 full baths, (2) 2-bedroom 1 full bath, (3) 1-Bedroom 1 bath and (1) studio unit. There is an oversized two car garage, covered carport, onsite laundry facility, private yards, and plenty of extra storage areas. Beautiful mature landscaping surrounds this uniquely designed building (including two cottages) providing a peaceful serene setting. All units are connected to the city sewer and there are 4 separate gas meters. Three of the units have been remodeled in the past year. Hillcrest is an ideal property with endless long term or short-term upside.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,100,000 | Building Class | C |
| Price Per Unit | $585,714 | Lot Size | 0.40 AC |
| Sale Type | Investment | Building Size | 3,600 SF |
| Cap Rate | 5.14% | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1984 |
| Property Subtype | Apartment | Parking Ratio | 2.78/1,000 SF |
| Apartment Style | Townhome |
| Price | $4,100,000 |
| Price Per Unit | $585,714 |
| Sale Type | Investment |
| Cap Rate | 5.14% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 3,600 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1984 |
| Parking Ratio | 2.78/1,000 SF |
Unit Amenities
- Balcony
- Yard
- Deck
- Patio
Site Amenities
- Courtyard
- Laundry Facilities
- Storage Space
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $3,995 | - |
| 2+1 | 2 | $3,316 | - |
| 1+1 | 3 | $2,792 | - |
| Studios | 1 | $1,850 | - |
zoning
| Zoning Code | R8 (residential with minimum lot sizes) |
| R8 (residential with minimum lot sizes) |
-
David Miller -
Swell Property
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