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    228-232 Las Flores Drive

    San Marcos, CA 92069
    • $6,820,000
    • STATUS: ACTIVE
    • ON SITE: 21 days
    • ID#: 210010325
    $6,820,000
    • 0
      BEDS
    • 0.29
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    We are pleased to offer the San Marcos Place Apartments (the “Property”), an attractive rental community located in San Marcos, CA. The offering presents real estate investors the opportunity to acquire a stabilized real estate asset that has been meticulously renovated and professionally managed. The Property consists of a nicely landscaped setting spread out on a large lot totaling 12,554 sq. ft. Originally constructed in 1979, the Property was extensively renovated in 2018 and is well-maintained by the current ownership. San Marcos Place Apartments consists of 22 spacious two-bedroom / one-bath apartments (approximately 840 square feet) with large 12 foot sliding glass doors leading to oversized balconies. The Property provides tenants with secure off-street tuck-under parking and modern laundry facilities. The renovation of the property consisted of both the exterior of the building and the interiors of seventeen (17) of the units. The exterior renovations include - paint, a new roof, new vinyl windows, and an electric gate with an intercom, which allows access to the property and added security. The interiors were appointed with - new cabinets, granite countertops, appliances including - refrigerators, ranges, dishwashers, and built-in microwave, fixtures, and sinks. In addition, laminate vinyl plank flooring was added to the living areas with new baseboards throughout. New light fixtures, ceiling fans, double-mirrored closets, window coverings, interior doors, and mini-split HVAC systems were also included as part of the renovation.

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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 © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/116308700
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    228-232 Las Flores Drive San Marcos, CA 92069

    • Price: $6,820,000
    • Status: ACTIVE
    • ID#: 210010325
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.29
    Acres
    Neighborhood:
    San Marcos (92069)
    County:
    San Diego
    Area:
    San Marcos (92069)
    Property Description
    We are pleased to offer the San Marcos Place Apartments (the “Property”), an attractive rental community located in San Marcos, CA. The offering presents real estate investors the opportunity to acquire a stabilized real estate asset that has been meticulously renovated and professionally managed. The Property consists of a nicely landscaped setting spread out on a large lot totaling 12,554 sq. ft. Originally constructed in 1979, the Property was extensively renovated in 2018 and is well-maintained by the current ownership. San Marcos Place Apartments consists of 22 spacious two-bedroom / one-bath apartments (approximately 840 square feet) with large 12 foot sliding glass doors leading to oversized balconies. The Property provides tenants with secure off-street tuck-under parking and modern laundry facilities. The renovation of the property consisted of both the exterior of the building and the interiors of seventeen (17) of the units. The exterior renovations include - paint, a new roof, new vinyl windows, and an electric gate with an intercom, which allows access to the property and added security. The interiors were appointed with - new cabinets, granite countertops, appliances including - refrigerators, ranges, dishwashers, and built-in microwave, fixtures, and sinks. In addition, laminate vinyl plank flooring was added to the living areas with new baseboards throughout. New light fixtures, ceiling fans, double-mirrored closets, window coverings, interior doors, and mini-split HVAC systems were also included as part of the renovation.
    Exterior Features

    Carports 34 Parking CarportsSpaces Parking Spaces Total 39

    Interior Features

    Cooling Other Heating Other/Remarks Sq Ft Of Improvement 18472 Stories 3 Story

    Property Features

    Actual Gross Scheduled Income 448680.0 Actual Operating Expense 170781 Actual Vacancy And Credit Loss 13460 Assumable Finance 0 Buildings 2 Gross Equity 2720000 Gross Multiplier 15.2 Have Apts Mandatory Remarks None Known Market Area North County Motive Want Cash Out Other Income Actual 19332 Short Sale No Sq Ft Source Buyer To Verify

    Listing provided courtesy of Acre Investment Real Estate. Listing information © 2021 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 © 2021 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