340 Lansing Cir
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340 Lansing Cir
4 Unit Apartment Building $1,449,000 ($362,250/Unit) 4.95% Cap Rate Escondido, CA 92025
Investment Highlights
- Large 875 Sq Ft 2Bd/1Ba Units
- 4 Garages
- High Demand Apartments
- Significant Rental Upside
- Possible ADU Conversion
- Located in an Opportunity Zone
Executive Summary
Large 2 bedroom/1 bath units (approx 875 sq ft each) 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. Significant upside on the rents. Large unused yard area of over 6,000 sq ft for potential adding one or more ADUs. The building has its own laundry room with coin operated washer/dryer. 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 355 Lansing Circle.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$105,600
|
$29.40
|
| Other Income |
$3,804
|
$1.06
|
| Vacancy Loss |
$3,282
|
$0.91
|
| Effective Gross Income |
$106,122
|
$29.54
|
| Taxes |
$16,556
|
$4.61
|
| Operating Expenses |
$17,826
|
$4.96
|
| Total Expenses |
$34,382
|
$9.57
|
| Net Operating Income |
$71,740
|
$19.97
|
Financial Summary (Pro forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $105,600 |
| Annual Per SF | $29.40 |
| Other Income | |
|---|---|
| Annual | $3,804 |
| Annual Per SF | $1.06 |
| Vacancy Loss | |
|---|---|
| Annual | $3,282 |
| Annual Per SF | $0.91 |
| Effective Gross Income | |
|---|---|
| Annual | $106,122 |
| Annual Per SF | $29.54 |
| Taxes | |
|---|---|
| Annual | $16,556 |
| Annual Per SF | $4.61 |
| Operating Expenses | |
|---|---|
| Annual | $17,826 |
| Annual Per SF | $4.96 |
| Total Expenses | |
|---|---|
| Annual | $34,382 |
| Annual Per SF | $9.57 |
| Net Operating Income | |
|---|---|
| Annual | $71,740 |
| Annual Per SF | $19.97 |
Property Facts
| Price | $1,449,000 | Building Class | B |
| Price Per Unit | $362,250 | Lot Size | 0.27 AC |
| Sale Type | Investment | Building Size | 3,592 SF |
| Cap Rate | 4.95% | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.2 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1964/2022 |
| Property Type | Multifamily | Parking Ratio | 0.84/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Single Family Home |
| Price | $1,449,000 |
| Price Per Unit | $362,250 |
| Sale Type | Investment |
| Cap Rate | 4.95% |
| Gross Rent Multiplier | 13.2 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single Family Home |
| Building Class | B |
| Lot Size | 0.27 AC |
| Building Size | 3,592 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2022 |
| Parking Ratio | 0.84/1,000 SF |
| Opportunity Zone |
Yes |
Site Amenities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $1,707 | 875 |
1 of 1
Walk Score ®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 229-311-13 | Total Assessment | $815,535 (2024) |
| Land Assessment | $251,556 (2024) | Annual Taxes | $16,556 ($4.61/SF) |
| Improvements Assessment | $563,979 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
229-311-13
Land Assessment
$251,556 (2024)
Improvements Assessment
$563,979 (2024)
Total Assessment
$815,535 (2024)
Annual Taxes
$16,556 ($4.61/SF)
Tax Year
2025
zoning
| Zoning Code | R-3 (Multi-Family 10 units or less) |
| R-3 (Multi-Family 10 units or less) |
-
Cody Evans -
South Coast Commercial, Inc.
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340 Lansing Cir
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