331 Washington Ave Escondido, CA 92025-2861

This exceptional 10-unit apartment building presents a turnkey investment opportunity in Escondido, CA. Built in 1988, the property boasts 7,920 square feet of net rentable space, with each unit averaging 792 square feet. All units are spacious two-bedroom, one-bathroom floorplans, with one non-conforming studio unit also included. Recent extensive renovations include new vinyl plank flooring, laminate countertops, stainless steel sinks, updated cabinets, ceiling fans, vanities, tubs, doors, hardware, and cordless blinds. Exterior improvements encompass stucco repairs, a new roof, fresh paint, upgraded gates, and new windows. The property offers ample off-street parking with 20 spaces available for tenants. Select units feature private balconies. Conveniently located near Escondido's historic downtown, the Grand Avenue corridor, and the Escondido Transit Center, this property benefits from a walk score of 90. The asking price is $3,850,000, representing a price per unit of $385,000 and a 6.56% cap rate. The property's proximity to major employment centers, ongoing Smart Growth initiatives, and planned developments in the surrounding area ensures strong rental demand and future appreciation potential. This is a stabilized asset with in-place market rents, making it an ideal addition to any investment portfolio. The property's APN is 2293107500.