5710 Olive Hill RdBonsall, CA 92003

This exceptional investment opportunity presents a 7-unit multifamily portfolio situated on a sprawling 8.19-acre lot in Bonsall, California. The property, located at 5710 Olive Hill Rd, 92003, consists of seven single-story buildings, each averaging approximately 900 square feet of rentable space, totaling 6,268 square feet. Currently operating at 100% occupancy with month-to-month tenants, this portfolio offers immediate rental upside due to below-market rents. The property includes a warehouse storage facility, adding to its income-generating potential. The current zoning, Rural Residential (RR), permits various uses including single-family residences, schools (with minor use permit), group care facilities, clinics, and recreational uses (with a major use permit). The property boasts a current cap rate of 2.76%, with a pro-forma cap rate projected at 4.60%, highlighting significant value-add potential. This redevelopment opportunity is further enhanced by the high average home sales prices exceeding $1 million in the immediate vicinity. The property's convenient location offers easy access to Interstate 15 and Highway 76, and is within close proximity to Bonsall Elementary School and the Golf Club of California. The asking price is $3,500,000, representing a price per unit of $500,000. This is a 1031 exchange eligible property with APN 126-050-39. The property was built in 1950. This is a Class C property.