For Sale
$3,910,000

2024-30 Montgomery Ave Encinitas, CA 92007

Coastal Cardiff Multifamily Investment

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional multifamily investment opportunity presents a 5-unit apartment building located at 2024-30 Montgomery Ave, Encinitas, CA 92007. The property boasts 3,050 square feet of living space situated on a 4,924 square foot lot, offering five surface parking spaces. Built in 1977 and extensively renovated in 2016, the building is in meticulous condition. The unit mix includes one two-bedroom/one-bath, three one-bedroom/one-bath, and one studio apartment, currently enjoying 100% occupancy. The asking price is $3,910,000, representing $782,000 per unit and a price per square foot of $1,281.97. The property offers a 3.07% cap rate with a pro-forma cap rate of 3.41% and a pro-forma NOI of $133,489. Its prime coastal location in Cardiff-by-the-Sea provides easy access to Interstate 5 and is within walking distance of San Elijo State Beach, numerous shops, restaurants, and other amenities. The property's proximity to major North County San Diego attractions further enhances its appeal. Potential upside exists through short-term rental options and current rent increases. This presents a compelling investment in a highly desirable coastal location with strong historical rental performance. The property's APN is 260-382-50-00.

Highlights

  • Prime coastal Cardiff-by-the-Sea multifamily investment property.
  • Five-unit apartment building with a mix of studio, one-bedroom, and two-bedroom units.
  • Completely remodeled interiors (approximately 8 years ago).
  • Potential for increased revenue through short-term rentals.
  • Excellent location, blocks from coastal amenities.
  • Convenient access to Interstate 5.

Property Details for 2024-30 Montgomery Ave

Property type
Apartment buildings
Square Feet
3,050 SF
Year Built/Renovated
1977/2016
Buildings
1
Stories
2
Units
5

Location Insight

City
Encinitas
County
San Diego
State
California
Latitude
33.023446409097
Longitude
-117.28074745227

FAQs

What type of property is this?
Apartment building - Coastal Cardiff Multifamily Investment
Where is the apartment building located?
The property is located at 2024-30 Montgomery Ave Encinitas, CA.
What is the asking price?
The asking price for this property is $3,910,000.
What are key features of this property?
This property features: Prime coastal Cardiff-by-the-Sea multifamily investment property.; Five-unit apartment building with a mix of studio, one-bedroom, and two-bedroom units.; Completely remodeled interiors (approximately 8 years ago).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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2024-30 Montgomery Ave
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