404 9Th Ave Escondido, CA 92025

Property Details for 404 9Th Ave

Year built

1940

Property size

2,313 SF

Property type

Commercial real estate

APN

233-352-08-00

Description

This exceptional investment opportunity presents a well-maintained, two-unit apartment building situated on a large corner lot in Escondido, California. The property boasts a total of 2,313 square feet and sits on a substantial 6,725 square foot lot, zoned for both commercial and residential use, offering significant flexibility for future development or expansion. The property comprises two buildings, each two stories high, constructed in 1940 and recently renovated. Improvements include a reinforced concrete foundation, fresh interior and exterior paint, and new vinyl flooring throughout. One unit features five bedrooms and two bathrooms, while the other offers two bedrooms and one bathroom. The property generates a strong net operating income (NOI) of $56,820, resulting in a 6.00% capitalization rate. The asking price is $949,000, or $474,500 per unit. This prime location on West 9th Avenue provides convenient access to Highway 15, enhancing its appeal to both residents and businesses. The property's versatility, strong rental income potential, and strategic location make it an ideal investment for both seasoned investors and first-time buyers seeking a high-return asset in a desirable California market. The property's APN is 233-352-08-00. All information should be independently verified.