20 Esquiline RdCarmel Valley, CA 93924

Property Details for 20 Esquiline Rd

Year built

1954

Lot size

1.10 AC

Property size (Sq ft)

1,028 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Carmel Valley

County

Monterey

State

California

Latitude

36.4768

Longitude

-121.728

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