406-416 10Th AveEscondido, CA 92025

Property Details for 406-416 10Th Ave

Year built

1965

Lot size

0.46 AC

Property size (Sq ft)

5,376 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 7-unit apartment building presents a compelling value-add investment opportunity in Escondido, CA. Located at 406-416 E 10th Ave, 92025, this property offers significant upside potential. Built in 1965, the two-building complex sits on a 0.46-acre lot and comprises 5,376 square feet, with two stories per building. Currently boasting 100% occupancy, the property generates a strong NOI of $129,436, representing a 5.40% cap rate. Pro-forma projections indicate a potential NOI of $140,506 and a 5.87% cap rate, highlighting the significant rental growth potential. Each of the seven units benefits from dedicated parking (8 spaces total), and the property includes convenient on-site laundry facilities and limited storage. The asking price is $2,395,000, translating to $342,143 per unit and $483 per square foot. This well-maintained property is situated in a desirable Escondido neighborhood, providing residents easy access to local amenities. The strong financial performance and growth potential make this a prime investment in the thriving Escondido real estate market. This is an ideal opportunity for investors seeking both stability and appreciation.

Location Insight

City

Escondido

County

San Diego

State

California

Latitude

33.1158

Longitude

-117.072

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