Boutique Hotel + Affordable Housing Conversion Opportunity – Downtown Escondido Turnkey Boutique Inn fully renovated (2020–2021) with modern finishes and themed rooms 16 keys + manager’s 2BR apartment (functionally 18 units) Strong in-place operations – 100% occupied since 2021 Prime Downtown Escondido location near transit, medical, retail, and civic amenities Flexible zoning allows multifamily or affordable housing conversion (CUP potential) Adjacent to new multifamily development (55-unit project nearby validates density trend) Ideal adaptive reuse play for investors targeting housing conversion or hybrid lodging model Small footprint, high flexibility asset suited for boutique operators or value-add buyers Keyless entry systems + recent capital improvements reduce near-term CapEx Rare sub-$4M hospitality asset in San Diego County