406-416 E 10th Ave
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406-416 E 10th Ave
7 Unit Apartment Building $2,395,000 ($342,143/Unit) 5.40% Cap Rate Escondido, CA 92025
Investment Highlights
- 7 Unit Multi-Family
- Below Market Rents
Executive Summary
Prime investment opportunity in the heart of Escondido, a vibrant city known for its rich history, cultural attractions, and scenic surroundings. This 7-unit multi-family property presents an excellent chance for investors seeking both stability and growth in their portfolio. Nestled in a desirable neighborhood, this well-maintained multi-family property boasts units that are strategically positioned to optimize privacy while offering residents easy access to local amenities. The property is enhanced by parking for each unit, communal green space, convenient on-site laundry facilities, and limited storage availability. These features contribute to the overall appeal of the property, ensuring tenant satisfaction and retention. The property's strong financial performance and potential for further growth make it a compelling investment option in the Escondido real estate market. Whether you're a seasoned investor or exploring new opportunities, this property represents a solid foundation for long-term success in the dynamic Escondido real estate market.
Data Room Click Here to Access
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$167,100
|
$31.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$167,100
|
$31.08
|
| Taxes |
$13,920
|
$2.59
|
| Operating Expenses |
$23,743
|
$4.42
|
| Total Expenses |
$37,663
|
$7.01
|
| Net Operating Income |
$129,437
|
$24.08
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $167,100 |
| Annual Per SF | $31.08 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $167,100 |
| Annual Per SF | $31.08 |
| Taxes | |
|---|---|
| Annual | $13,920 |
| Annual Per SF | $2.59 |
| Operating Expenses | |
|---|---|
| Annual | $23,743 |
| Annual Per SF | $4.42 |
| Total Expenses | |
|---|---|
| Annual | $37,663 |
| Annual Per SF | $7.01 |
| Net Operating Income | |
|---|---|
| Annual | $129,437 |
| Annual Per SF | $24.08 |
Property Facts Under Contract
| Price | $2,395,000 | Building Class | C |
| Price Per Unit | $342,143 | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 5,376 SF |
| Cap Rate | 5.40% | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 2/1,000 SF |
| Apartment Style | Low Rise |
| Price | $2,395,000 |
| Price Per Unit | $342,143 |
| Sale Type | Investment |
| Cap Rate | 5.40% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 5,376 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 2/1,000 SF |
Site Amenities
- Courtyard
- Laundry Facilities
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 7 | - | 895 |
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $1,256,464 | |
| Land Assessment | $642,739 | Annual Taxes | $13,920 ($2.59/SF) |
| Improvements Assessment | $613,725 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$642,739
Improvements Assessment
$613,725
Total Assessment
$1,256,464
Annual Taxes
$13,920 ($2.59/SF)
Tax Year
2024
zoning
| Zoning Code | R-1, Escondido (Residential) |
| R-1, Escondido (Residential) |
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406-416 E 10th Ave
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