204 Clark St
Escondido, CA 92025
Clark Street Terrace Apartments · Multifamily Property For Sale · 20 Units

The rehab of Clark Street Terrace Apartments consist of the following: custom exterior and interior paint; redo of asphalt parking lot; landscaping exterior; re-naming and signing of project. (new name: Clark Street Terrace Apartments) rehab of apartments as they became available; said rehab varies from apartment to apartment subject to the existing improvements made by the past owner; post rehab many apartments will have wood vinyl flooring; new vanities in bathrooms; micro wave ovens; new cabinets with granite counter tops; mirrored wardrobe doors on all closets; new hardware through out interior of unit; new 6 panel doors throughout units; custom multi-colored interior paint; crown molding. All air conditioners have been serviced or replaced and furthermore, all the units are on RUBS. Clark Street Terrace Apartments a 20 unit apartment complex (16 - 2 bedroom 2 bath and 4 - 1 bedroom 1 bath) built in 1986 as a condominium project. The current owner has given all the condominium documents related to the project. At this time, we don't see any value in a condo sale but what is valuable today is the fact that the project was built to a higher standard than that of the average apartment complex. Example: central air and heat; 2 plus parking spaces for each unit including the 1 bedroom 1 bath units; full security complex with fencing and electronic gates; the 16 - 2 bedroom 2 bath units all have double sink vanities in the bathrooms; the kitchens in the 2 bedroom 2 bath units have arguably the best floor plan of any complex I have recently been involved with. Additionally, all units have several windows of all sizes and locations which make for very bright units. The exterior and interiors also have many different angles and construction that you do not find in typical apartment complexes. Clark Street Terrace Apartments is located in the core business area of Escondido, California. Escondido is 20 miles North of Downtown San Diego in North San Diego County. Escondido is conveniently located at the intersection of the 78 and 15 freeways. The current population is 218,338 as of 2016. This places Escondido as the 4th largest city in San Diego County. There is over 8 million square feet of retail space in Escondido ranking it as the second highest retail inventory in San Diego County. With approximately 25 million square feet of industrial space, few sub markets can offer such varied employment opportunities. The median age in Escondido is 33.7 years or approximately 2.5 years younger than the average for California. This is a prime apartment rental age. In 2016 the median home price was $450,300 which is out of reach for most of the younger people in the Escondido market.