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    243 E Glaucus

    Encinitas, CA 92024
    • $3,500,000
    • STATUS: Active
    • ON SITE: 9 days
    • ID#: 200052108
    UPDATED: 66 min ago
    $3,500,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    County:

    School Ratings & Info

    Description

    Located west of Interstate 5 and situated in a single family and multifamily residential neighborhood, 243 E. Glaucus consists of 5 large apartment homes of two, three and four-bedroom floor plans. The property records show six legal units, which allows an investor to reconfigure floor plans to add one more unit. The property is just a few short blocks from Leucadia State Beach and retail and dining along from N. Coast Highway 101. The low density site features single level units with large private patios or yards and plenty of off street parking. The large floor plans are well designed and offer significant rental upside by completing interior and exterior renovations. Two units are reserved for households earning eighty percent (80%) or less of Area Median Income (AMI) for San Diego County for a period of 20 years from January 28, 2020. The investment offers multiple alternative exit strategies including redevelopment or the addition of accessory dwelling units.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-11-29T11:25:45.357. 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 Wendy Rich-Soto and Associates | Keller Williams Realty, LA Harbor. Licensed in the State of California, USA.

    www.sellinglasouthbay.com/homes/112039076
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    243 E Glaucus Encinitas, CA 92024

    • Price: $3,500,000
    • Status: Active
    • Updated: 66 min ago
    • ID#: 200052108
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    Neighborhood:
    92024 - Encinitas
    County:
    San Diego
    Area:
    92024 - Encinitas
    Property Description
    Located west of Interstate 5 and situated in a single family and multifamily residential neighborhood, 243 E. Glaucus consists of 5 large apartment homes of two, three and four-bedroom floor plans. The property records show six legal units, which allows an investor to reconfigure floor plans to add one more unit. The property is just a few short blocks from Leucadia State Beach and retail and dining along from N. Coast Highway 101. The low density site features single level units with large private patios or yards and plenty of off street parking. The large floor plans are well designed and offer significant rental upside by completing interior and exterior renovations. Two units are reserved for households earning eighty percent (80%) or less of Area Median Income (AMI) for San Diego County for a period of 20 years from January 28, 2020. The investment offers multiple alternative exit strategies including redevelopment or the addition of accessory dwelling units.
    Property Features

    Cap Rate 2.98 Country Us Gross Scheduled Income 168456.00 Net Operating Income 104177.00 Operating Expense 59225.00 Property Sub Type Commercial/Residential

    Listing provided courtesy of Eric Comer of Eric D. Comer, Broker


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-11-29T11:25:45.357. 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 Wendy Rich-Soto and Associates | Keller Williams Realty, LA Harbor. Licensed in the State of California, USA.

     
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    Wendy Rich-Soto and Associates | Keller Williams Realty, LA Harbor
    28901 S. Western Avenue #139
    Rancho Palos Verdes CA, 90731