302-338 E Fallbrook St - Apartments FOR SALE


Fallbrook, CA 92028
$10,525,000 USD
760-930-7940
302-338 E Fallbrook St, Fallbrook, CA for Sale
$10,525,000 USD
Apartments - FOR SALE
1/29
null | 6% Cap Rate

302-338 E Fallbrook St
Fallbrook, CA 92028


HIGHLIGHTS

  • 6% Current CAP Rate with easy upside through cosmetic exterior upgrades and ADU potential
  • Upscale North County San Diego | $118k Ave HH Income in Fallbrook
  • High-end renovations including in-unit washer/dryers, quartz, new cabinets, hard flooring and much more
  • Charming single level large cottage style units with private yards + Abundant parking
  • Nearby upscale wineries, equestrian, golf
  • Walkable to downtown Fallbrook Main Avenue with restaurants, shopping and more

OVERVIEW

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 state 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. CONTACT LISTING AGENT FOR FULL OFFERING MEMORANDUM.

FOR SALE DETAILS

PRICE

$10,525,000 USD

PRICE/SF

$391 USD /SF

# OF UNITS

29

PRICE/UNIT

$362,931

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

No. County San Diego | Single-Story | Upscale

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1972

PARKING SPACES

55

LAND DETAILS

LAND ACRES

2.73 AC

LAND SF

119,117 SF

ZONING

R3

APN/PARCEL ID

104-310-38,104-310-39,104-310-42

ASK ABOUT THIS PROPERTY

Peter ScepanovicColliersMore Info
760-930-7940

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Peter ScepanovicColliersMore Info
760-930-7940

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.