2250 BroadwayEscondido, CA 92026

Property Details for 2250 Broadway

Year built

1978

Lot size

13.73 AC

Property size (Sq ft)

6,854 SF

Zone code

RESTRICTED COMMERCIAL

Property type

Residential income properties

Property subtype

Mobile home & RV parks

APN

224-130-56-00

APU

2241305600

Description

This exceptional investment opportunity presents the Sundance 55+ Mobile Home Park, a meticulously maintained Class A senior community nestled in Escondido, California's desirable San Diego County. Boasting 88 sites on 13.73 acres (6.41 sites per acre), this stabilized property features a 100% occupancy rate as of September 27, 2024. The park comprises primarily ground-set double-wide mobile homes, many offering views of the Reidy Creek Golf Course. Built in 1977, the property includes a substantial 7,000 square foot clubhouse, complete with a heated pool, spa, event space, kitchen, fitness room, billiards room, library, game room, saunas, and shuffleboard courts. The park's infrastructure is robust, featuring copper wiring with 100-200 AMP service (direct-billed from SDGE), direct-billed gas from SDG&E, sub-metered city water via PVC piping, and a flat-rate pass-through city sewer system. Irrigation is supported by two on-site wells. The average monthly site rent is $1,438, excluding utilities. Twenty-two tenants are on month-to-month leases, while the remainder are on long-term leases ranging from 12 months to 25 years. One park-owned manager's unit is located on Site #6. A highly attractive $9,915,706 assumable loan (as of September 1, 2024) is available, amortized over 30 years at a 3.34% interest rate, due March 1, 2027, through Lument Bank. This property offers a rare chance to acquire a high-quality, senior community in a prime San Diego location. The permitted zoning is Restricted Commercial, and the APN is 224-130-01-00. The property is held in fee simple.

Location Insight

City

Escondido

County

San Diego

State

California

Latitude

33.1597

Longitude

-117.092

CBSA code

41740

CBSA name

SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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