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    243 E Glaucus

    Encinitas, CA 92024
    • $3,500,000
    • STATUS: ACTIVE
    • ON SITE: 12 days
    • ID#: 200052108
    UPDATED: 16 min ago
    $3,500,000
    • 13
      BEDS
    • N/A
      ACRES
    • 10
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    Located west of Interstate 5 and situated in a single family and multifamily residential neighborhood, 243 E. Glaucus consists of 5 large apartment homes of two, three and four-bedroom floor plans. The property records show six legal units, which allows an investor to reconfigure floor plans to add one more unit. The property is just a few short blocks from Leucadia State Beach and retail and dining along from N. Coast Highway 101. The low density site features single level units with large private patios or yards and plenty of off street parking. The large floor plans are well designed and offer significant rental upside by completing interior and exterior renovations. Two units are reserved for households earning eighty percent (80%) or less of Area Median Income (AMI) for San Diego County for a period of 20 years from January 28, 2020. The investment offers multiple alternative exit strategies including redevelopment or the addition of accessory dwelling units.

    Monthly Payment Calculator

    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/112032564
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    243 E Glaucus Encinitas, CA 92024

    • Price: $3,500,000
    • Status: ACTIVE
    • Updated: 16 min ago
    • ID#: 200052108
    13
    Beds
    10
    Baths
    0
    ½ Baths
    N/A
    Acres
    Neighborhood:
    Encinitas (92024)
    County:
    San Diego
    Area:
    Encinitas (92024)
    Property Description
    Located west of Interstate 5 and situated in a single family and multifamily residential neighborhood, 243 E. Glaucus consists of 5 large apartment homes of two, three and four-bedroom floor plans. The property records show six legal units, which allows an investor to reconfigure floor plans to add one more unit. The property is just a few short blocks from Leucadia State Beach and retail and dining along from N. Coast Highway 101. The low density site features single level units with large private patios or yards and plenty of off street parking. The large floor plans are well designed and offer significant rental upside by completing interior and exterior renovations. Two units are reserved for households earning eighty percent (80%) or less of Area Median Income (AMI) for San Diego County for a period of 20 years from January 28, 2020. The investment offers multiple alternative exit strategies including redevelopment or the addition of accessory dwelling units.
    Exterior Features

    Parking Spaces

    Interior Features

    Sq Ft Of Improvement 6208 Stories 1 Story

    Property Features

    Actual Cap Rate 2.98 Actual Gross Scheduled Income 168456.0 Actual Operating Expense 59225 Assumable Finance 0 Gross Equity 1900000 Gross Multiplier 20.8 Have 5 Units Mandatory Remarks None Known Market Area Coastal North Motive Want Sell Projected Cap Rate 3.77 Special Other/Remarks Sq Ft Source Owner Unit Number1 2 Unit Number2 1 Unit Number3 1 Unit Number4 1 Unit Rent Total1 3628 Unit Rent Total2 3075 Unit Rent Total3 3950 Unit Rent Total4 3385 Unit Rent1 1814 Unit Rent2 3075 Unit Rent3 3950 Unit Rent4 3385 Unit Type Apartment

    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