41
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$10,525,000
Est. payment /mo
Active
302 E Fallbrook St Fallbrook, CA 92028
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250021783SD
HOA Y/N No
Property Sub-Type Mixed Use
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 92028 - Fallbrook
Interior
Fireplace No
Others
Tax ID APN 1043103900
Listed by Corey McHenry David Santistevan
MORTGAGE CALCULATOR
Mortgage values are calculated by Lofty and are for illustration purposes only, accuracy is not guaranteed.
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Chrystal & David Schoenbrun
Realtor/Broker Associate | License ID: 01409474 & 01761327