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Jim, Justin and Vickie, Sales Associate
SOLD
$4,460,000
Date 09/11/2023

209 W 3rd Avenue
Escondido, CA 92025

Mixed Use, Business Opportunities
Residence
Listing Agent: Josh Browar CalDRE: 01824454 - The Browar Group

Description for 209 W 3rd Avenue Escondido, CA 92025

We are pleased to offer The Grand @ City Center apartments a Value-Add deal located in the heart of Escondido. The property is situated on two adjacent parcels on the corner of S Maple Street and W 3rd Avenue with close proximity to downtown Escondido. The opportunity contains a very dynamic unit mix of a 3br/1ba SFR, 6-1br/1ba detached cottages (with private yards), one 2br/1ba apartment, five 1br/1ba apartments and five studio apartments. Other amenities include six single car garages (perfect for an ADU conversion) and laundry facilities. The property offers a very quaint courtyard style atmosphere as current ownership has implemented many recent capital improvements (see OM). There is also significant rental upside potential. *** There is new loan on the property with Chase Bank that has a current loan balance of $2,225,000. The loan has an interest rate of 3.37% and has interest only payments through 10/1/2024. Then it converts to a fixed rate (fully amortized) of 3.37% until 10/1/2026.

Property Details

230003308SD
Mixed Use, Business Opportunities, Other
San Diego
Stucco
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Listing Agent: Josh Browar CalDRE: 01824454 - The Browar Group
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Jim, Justin and Vickie Dean Stalter, Broker DRE# 00625377 - 30221 Golden Lantern Ste. A-B, Laguna Niguel, CA 92677 | Phone: (949) 464-8136 | Email: [email protected]

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