404 9Th AveEscondido, CA 92025

  • Residential income properties
  • 2,313 SF
For Sale
$949,000 View listing

Property Details for 404 9Th Ave

Year built
1940
Property size (Sq ft)
2,313 SF
Property type
Residential income properties
Property subtype
Multifamily properties

Description

This exceptional investment opportunity presents a well-maintained, two-unit apartment building situated on a large corner lot in Escondido, California. The property boasts a total of 2,313 square feet and sits on a substantial 6,725 square foot lot, zoned for both commercial and residential use, offering significant flexibility for future development or expansion. The property comprises two buildings, each two stories high, constructed in 1940 and recently renovated. Improvements include a reinforced concrete foundation, fresh interior and exterior paint, and new vinyl flooring throughout. One unit features five bedrooms and two bathrooms, while the other offers two bedrooms and one bathroom. The property generates a strong net operating income (NOI) of $56,820, resulting in a 6.00% capitalization rate. The asking price is $949,000, or $474,500 per unit. This prime location on West 9th Avenue provides convenient access to Highway 15, enhancing its appeal to both residents and businesses. The property's versatility, strong rental income potential, and strategic location make it an ideal investment for both seasoned investors and first-time buyers seeking a high-return asset in a desirable California market. The property's APN is 233-352-08-00. All information should be independently verified.

404 9Th Ave, Escondido, California

Location Insight

City
Escondido
County
San Diego
State
California
Latitude
33.1125
Longitude
-117.081

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