20 Esquiline RdCarmel Valley, CA 93924

This exceptional 12-unit apartment complex in Carmel Valley, CA, presents a compelling investment opportunity. Located at 20 Esquiline Rd, 93924, this property boasts a 4.37% cap rate and is currently 100% occupied, generating a Net Operating Income (NOI) of $196,564. The complex comprises three two-story buildings, each housing four townhouse-style units, totaling 1,028 square feet each. Each unit features two bedrooms and 1.5 bathrooms, with amenities including a swimming pool and laundry room. The property sits on a 1.1-acre lot and offers ample parking with 25 spaces, including 12 carports and 13 open spaces. Individual forced-air gas furnaces provide heating, while electric ranges and individual water heaters serve each unit. Utilities are a mix of owner and tenant responsibility, with individual electric meters for each unit. The property features a septic system with two tanks and multiple leach fields. The exterior is a combination of wood and stucco, with a composition shingle roof. Interior finishes include carpet, vinyl, and vinyl plank flooring, along with drywall walls and fiberglass shower walls. A recent rent survey indicates significant potential for rental increases, given that current rents range from $2,160 to $2,775 per month, with the most recent lease at $2,775. The property is zoned HDR/B-6-D-S-RAZ, allowing for high-density residential use within the Carmel Valley Master Plan. Many units also include additional storage space. This well-maintained complex offers a strong return on investment with significant upside potential. The asking price is $4,495,000.