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    145-225 W El Norte Parkway

    Escondido, CA 92026
    • $13,950,000
    • STATUS: ACTIVE
    • ON SITE: 12 days
    • ID#: 200048547
    UPDATED: 8 min ago
    $13,950,000
    • 6
      BEDS
    • N/A
      ACRES
    • 6
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    Hilltop Condos consists of a bulk sale of 51-units in a 105-unit complex built in 1988. All units are two-bedroom, two-bath floor plans with fireplaces and in-unit washer and dryers. The property was highly renovated in 2006 and has numerous amenities including two swimming pools and spas, a fitness center, leasing office and beautifully landscaped grounds. A future investor can enjoy low operating costs due to the age of construction and recent renovation. Further, the Home Owners Association is responsible for the maintenance of the exterior and common areas. Hilltop Condos may be exempt from California's rent control law (AB1482) with proper tenant noticing and vesting. Hilltop Condos is located in a convenient Escondido location with direct freeway access and proximity to convenient shopping and community amenities.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2020 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/110995558
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    145-225 W El Norte Parkway Escondido, CA 92026

    • Price: $13,950,000
    • Status: ACTIVE
    • Updated: 8 min ago
    • ID#: 200048547
    6
    Beds
    6
    Baths
    0
    ½ Baths
    N/A
    Acres
    Neighborhood:
    Escondido (92026)
    County:
    San Diego
    Area:
    Escondido (92026)
    Property Description
    Hilltop Condos consists of a bulk sale of 51-units in a 105-unit complex built in 1988. All units are two-bedroom, two-bath floor plans with fireplaces and in-unit washer and dryers. The property was highly renovated in 2006 and has numerous amenities including two swimming pools and spas, a fitness center, leasing office and beautifully landscaped grounds. A future investor can enjoy low operating costs due to the age of construction and recent renovation. Further, the Home Owners Association is responsible for the maintenance of the exterior and common areas. Hilltop Condos may be exempt from California's rent control law (AB1482) with proper tenant noticing and vesting. Hilltop Condos is located in a convenient Escondido location with direct freeway access and proximity to convenient shopping and community amenities.
    Exterior Features

    Construction FrameStucco Parking CarportsGaragesSpaces

    Interior Features

    Cooling Wall/Window Floor Coverings TileVinyl Heating Wall Sq Ft Of Improvement 45254 Stories 2 Story

    Property Features

    Actual Cap Rate 4.4 Actual Gross Scheduled Income 1111080.0 Actual Operating Expense 507187 Assumable Finance 0 Complex Features BbqClubhouseExercise RoomHeated PoolRec RoomSpa Financial Information Source Owner Gross Equity 5580000 Gross Multiplier 12.6 Have 51 Condo Units Mandatory Remarks None Known Market Area North County Motive Want Sell Projected Cap Rate 4.7 Projected Gross Multiplier 12.1 Short Sale No Unit Number1 11 Unit Number2 31 Unit Number3 9 Unit Rent Total1 19580 Unit Rent Total2 55955 Unit Rent Total3 17055 Unit Rent1 1780 Unit Rent2 1805 Unit Rent3 1895

    Listing provided courtesy of Eric D. Comer, Broker. Listing information © 2020 San Diego MLS Inc. Source: SDMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2020 San Diego MLS, Inc. Licensed in the state of California.
     
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    Neuman & Neuman Real Estate Inc.
    516 5th Avenue
    San Diego CA, 92101