Skip To Content

--
  • --
    BEDS
  • --
    ACRES
  • --
    BATHS
  • --
    1/2 BATHS
  • --
    SQFT
  • --
    $/SQFT

Listing Details

Status
--
On Site
--
On Market
--
MLS #
--
Neighborhood
--
Type
--
Built
--
County
--
Area
--

School Ratings & Info

Description

The Elder Street Apartments represent a true value add opportunity in the North San Diego County community of Fallbrook. The opportunity consists of a 4 unit building enabling the investor to lock in 30 year fixed rate debt at historically low rates. Constructed in 1965, 729 E. Elder rests on a slab foundation with stucco and frame construction. The 2 story building has a unit mix consisting of four 3 bedroom 1.5 bath units, with all units over 1050 square feet. The 2 ground level units were completely rehabbed in 2016. Separately metered for gas and electric, the units have long term tenants with a solid payment history. The roof was replaced in 2015 and the boiler in 2016 so major systems are relatively new. All plumbing angle stops have been replaced, all toilets are low flow, and plumbing lines are copper. There is a laundry room with leased equipment providing the residents with onsite convenience plus extra income for the owner. Parking is via carports. Purchase this as a 4 unit investment with no income fluctuation from interest rate uncertainty due to the ability to use 30 year fixed rate debt. Number of Furnished Units: 0

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-17T21:31:45.67. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Kohler Group | Zutila. Licensed in the State of California, USA.
www.buysocal.homes/homes/117787840
Print Image

729 E Elder Fallbrook, CA 92028

  • Price: $1,200,000
  • Status: Active
  • Updated: 63 min ago
  • ID#: 210014904
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1965
Built
Neighborhood:
Fallbrook
County:
San Diego
Area:
92028 - Fallbrook
Property Description
The Elder Street Apartments represent a true value add opportunity in the North San Diego County community of Fallbrook. The opportunity consists of a 4 unit building enabling the investor to lock in 30 year fixed rate debt at historically low rates. Constructed in 1965, 729 E. Elder rests on a slab foundation with stucco and frame construction. The 2 story building has a unit mix consisting of four 3 bedroom 1.5 bath units, with all units over 1050 square feet. The 2 ground level units were completely rehabbed in 2016. Separately metered for gas and electric, the units have long term tenants with a solid payment history. The roof was replaced in 2015 and the boiler in 2016 so major systems are relatively new. All plumbing angle stops have been replaced, all toilets are low flow, and plumbing lines are copper. There is a laundry room with leased equipment providing the residents with onsite convenience plus extra income for the owner. Parking is via carports. Purchase this as a 4 unit investment with no income fluctuation from interest rate uncertainty due to the ability to use 30 year fixed rate debt. Number of Furnished Units: 0
Exterior Features

Fencing Partial Parking Total 0

Interior Features

Cooling Wall/Window Unit(S) Cooling YN Yes

Property Features

Association Fee 0 Cap Rate 4.01 Gross Scheduled Income 74400 Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional Net Operating Income 48142 Senior Community YN No Tenant Pays Cable TvElectricityGas

Listing provided courtesy of Gary Kaufman of South Coast Commercial, Inc.


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-17T21:31:45.67. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Kohler Group | Zutila. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365537402-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365537402-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365537402-2.jpg
Logo
The Kohler Group | Zutila
4000 Barranca Parkway #105
Irvine CA, 92604