406-416 10Th Ave Escondido, CA 92025
- Apartment buildings
- 5,376 SF
- 0.46 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 406-416 10Th Ave
- Year built
- 1965
- Lot size
- 0.46 lot acres
- Property size
- 5,376 SF
- Property type
- Apartment buildings
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Escondido
- County
- San Diego
- State
- California
- Longitude
- -117.072
- Latitude
- 33.1158
