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$1,650,000
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UPDATED:
12/18/2024 05:14 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 240028584
Property Description
Built in 1953, this distinctive 4,868 sq. ft. mixed-use property in Escondido offers a compelling blend of residential and retail spaces on a spacious 14,206 sq. ft. parcel. The property consists of three structures, featuring five apartment units and two retail units, set within a tranquil, single-story garden community. It includes two two-car garages, a one-car garage, and plenty of off-street parking for added convenience. The property currently generates additional income through a RUBS (Ratio Utility Billing System), and a new owner can further capitalize on immediate revenue opportunities from laundry and garage rentals. A strategic opportunity lies in transforming the existing garages into a spacious two-bedroom unit while repurposing the two retail spaces into two additional two-bedroom units. This innovative approach would elevate the property's potential, expanding it into an 8-unit community featuring 4 two-bedroom and 4 one-bedroom residences. By maximizing the space and increasing the number of units, this plan enhances the property's value and appeal to a diverse tenant base.
Location
State CA
County San Diego
Area Escondido (92025)
Exterior
Parking Features Garages
Building
Story 1
Others
Space Rent $141,756
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Listed by Bill Anderson • Acre Investment Real Estate
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