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$10,525,000
Est. payment /mo
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250021783
Property Description
6% Current Cap Rate! Westfall Village is an excellent multifamily investment opportunity located in North San Diego County in the heart of Fallbrook, CA. Just a few blocks to downtown Fallbrook Main Avenue with tree-lined streets, restaurants, shops and more, the location is prime. With easy access to employment along the I-78 Corridor (Oceanside to Escondido) and a short drive to Cal State University San Marcos (the fastest growing University in California), Palomar College, Temecula and much more, Fallbrook is considered a desirable enclave separated from the hustle and bustle of urban city life. The property is within close proximity to spectacular wineries/vineyards, wedding venues, golf, equestrian centers, airport/airpark and more. The property spans across 2.24 Acres and includes 3 parcels with a total of 29 single-level units that offer single home feel and renovated interiors. Tenants enjoy covered off-street parking, a dog obstacle course and a dog wash room. The unit mix is mostly 2BR/2BA units, with 4 1BR/1BA units and 1 3BR/2BA detached SFR home. Interior renovations include stainless steel appliances including dishwasher and microwave, quartz countertops, custom cabinets, designer tile, custom paint, wood-style flooring, In-unit washer/dryer, A/C and ceiling fans. In addition to the attractive current CAP Rate of 6%, there is additional upside potential through cosmetic exterior upgrades & ADU addition.
Location
State CA
County San Diego
Area Fallbrook (92028)
Exterior
Parking Features Carports, Garages, Spaces
Building
Story 1
Others
Space Rent $932,003
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Listed by Corey McHenry • David Santistevan