2 on W 9th Ave 404 W 9th Ave 2 Unit Apartment Building $925,000 ($462,500/Unit) 6.16% Cap Rate Escondido, CA 92025
INVESTMENT HIGHLIGHTS
- 2 Houses, 1 lot
- Recently renovated with reinforced concrete foundation, new paint inside and outside, vinyl flooring, and more
- 6,725 sq. ft. corner lot with commercial zoning and residential use for multi-family, rental, or office potential
- Prime location on W 9th St with direct access from East and West HWY 15
EXECUTIVE SUMMARY
This well-maintained 2-on-1 corner lot property in Escondido has been family-owned for 80 years and presents a well-priced investment opportunity. Ideal for first-time buyers or investors, it features two houses: a turnkey 5-bedroom, 2-bath front house and a 2-bedroom, 1-bath detached unit, offering strong rental income potential. The front house has undergone $100,000 worth of renovations, including a reinforced concrete foundation, the addition of a second full bathroom, vinyl flooring installed throughout the entire house, and much more. Sitting on a 6,725 sq. ft. lot, this property is zoned Commercial while retaining Residential zoning, making it a versatile investment—perfect for multi-family living, rental income, or professional offices. Located on W 9th St, one of the few streets with direct access from East and West HWY 15, this property offers convenience and flexibility. Buyers and buyers’ agents to verify all information.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $925,000 |
| Price Per Unit | $462,500 |
| Sale Type | Investment |
| Cap Rate | 6.16% |
| Gross Rent Multiplier | 12 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 2,313 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built | 1940 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 5+2 | 1 | $4,000 | 1,407 |
| 2+1 | 1 | $2,600 | 906 |
1 of 1
Walk Score®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 233-352-08 | Improvements Assessment | $26,467 |
| Land Assessment | $50,485 | Total Assessment | $76,952 |
ZONING
| Zoning Code | 60 (Multi-family (10 Units or Less)) |
