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340 Lansing Circle

Escondido, CA 92025
  • $1,449,000
  • STATUS: ACTIVE
  • ON SITE: 37 Days
  • ID#: 240026077
$1,449,000
  • 8
    BEDS
  • 0.27
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 3,500
    SQFT
  • $414
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1964
County:

School Ratings & Info

Description

Large 2 bedroom/1 bath units (approx 875 sq ft each) in a rapidly gentrifying, quiet, unique HOA community of sixteen 4-plexes. All the units were rehabbed over the last few years. Tenants move in and almost never leave. Significant upside on the rents. Large unused yard area of over 6,000 sq ft for potential adding one or more ADUs. The building has its own laundry room with coin operated washer/dryer. The HOA pays for common area landscape/maintenance, trash, and an onsite manager. Located in an opportunity zone. Property can be purchased individually or with another 4-plex at 355 Lansing Circle.

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San Diego MLS logo 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 © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/157528343
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340 Lansing Circle Escondido, CA 92025

  • Price: $1,449,000
  • Status: ACTIVE
  • On Site: 37 Days
  • ID#: 240026077
8
Beds
4
Baths
0
½ Baths
0.27
Acres
3,500
SQFT
$414
$/SQFT
1964
Built
Neighborhood:
Escondido
County:
San Diego
Area:
Escondido (92025)
Property Description
Large 2 bedroom/1 bath units (approx 875 sq ft each) in a rapidly gentrifying, quiet, unique HOA community of sixteen 4-plexes. All the units were rehabbed over the last few years. Tenants move in and almost never leave. Significant upside on the rents. Large unused yard area of over 6,000 sq ft for potential adding one or more ADUs. The building has its own laundry room with coin operated washer/dryer. The HOA pays for common area landscape/maintenance, trash, and an onsite manager. Located in an opportunity zone. Property can be purchased individually or with another 4-plex at 355 Lansing Circle.
Exterior Features

Exterior Stucco Fencing N/K Roof Composition Unit1 Exclusive Use Yard No Unit2 Exclusive Use Yard No Unit3 Exclusive Use Yard No Unit4 Exclusive Use Yard No Units With Garages 0 Units With Patios 0

Interior Features

Cooling N/K Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Half Baths Unit4 0 Stories 1 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1 Unit1 Laundry Hook Ups No Unit2 Laundry Hook Ups No Unit3 Laundry Hook Ups No Unit4 Laundry Hook Ups No Units With Cooling 0 Units With Dishwashers 0 Units With Dryers 0 Units With Fireplaces 0 Units With Range Oven 4 Units With Refrigerators 4 Units With Washers 0

Property Features

Actual Cap Rate 3.4 Age Restrictions N/K Annual Expense Actual 34382 Annual Expense Projected 34382 Association ID San Diego Association of REALTORS (SDAR) Buildings 1 Cfd Mello Roos Fee 0.0 Community SOUTH ESCONDIDO Complex Park N/A Cross Streets N Hickory St Gross Rent Multiplier Actual 16.9 Gross Rent Multiplier Project 13.2 Gross Scheduled Income Actual 85740 Gross Scheduled Income Project 109404 Mandatory Remarks None Known Market Area North County Monthly Total Fees 0 Net Operating Income Projected 71740 Other Fees 0.0 Other Income Actual 3804 Projected Cap Rate 5.0 Projected Other Income 3804.0 Sales Restrictions N/K Security N/K Short Sale No Tenant Pays Cable TVElectricityGas/Propane Terms Cal VetCashConventionalExchangeFHA Unit Number For Unit1 A Unit Number For Unit2 B Unit Number For Unit3 C Unit Number4 D Unit1 Deposit 1000 Unit1 Occupied Tenant Unit1 Projected Rent 2200.0 Unit1 Rent Actual 1835.0 Unit2 Deposit 1000 Unit2 Occupied Tenant Unit2 Projected Rent 2200.0 Unit2 Rent Actual 1885.0 Unit3 Deposit 1000 Unit3 Occupied Tenant Unit3 Projected Rent 2200 Unit3 Rent Actual 1585.0 Unit4 Deposit 1000 Unit4 Occupied Tenant Unit4 Projected Rent 2200 Unit4 Rent Actual 1525.0

San Diego MLS logo Listing provided courtesy of Cody Evans of South Coast Commercial, Inc.: 858-729-3094. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo 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 © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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