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Moonlight Village 215 Lolita St 1095 Unit Apartment Building $3,095,000 ($2,826/Unit) 3.49% Cap Rate Encinitas, CA 92024
Investment Highlights
- Three blocks to the beach
- Recent fundamental upgrades
- Charming coastal investment opportunity
Executive Summary
Authentic coastal character, walk-to-beach location, and income from day one! 215-223 Lolita Street is the rare gem that captures the soul of old Encinitas. This five-unit coastal income property sits just three blocks, or 0.2 miles, from the sand of Moonlight Beach. Whether you're an investor seeking a turnkey opportunity or an owner-occupant craving the beach lifestyle, this one checks every box.
The building consists of four cozy one-bedroom units and one charming studio with a loft, a versatile mix that appeals to a wide range of tenants and keeps vacancy low in this perpetually sought-after coastal market.
The current ownership has invested heavily in the fundamentals. The entire property has been re-piped with hardline galvanized pipes, new roof vents installed, and every unit equipped with a new heater. A new commercial-grade water heater serves the building, and the studio features a fully remodeled bathroom giving the next owner true peace of mind.
A comprehensive renovation in 2010 modernized the interiors throughout, including remodeled kitchens and bathrooms, upgraded plumbing and electrical, sound insulation between each unit, and beautiful bamboo flooring, all hallmarks of a well-loved, well-maintained property.
Income properties just a short stroll to the sand in Encinitas are as coveted as they are scarce, don't let this one slip by!
****REACH OUT TO CHELSEA TAYLOR DIRECTLY AT (760) 331-7417 or email CHELSEA@CHELSEATAYLORPROPERTIES.COM
The building consists of four cozy one-bedroom units and one charming studio with a loft, a versatile mix that appeals to a wide range of tenants and keeps vacancy low in this perpetually sought-after coastal market.
The current ownership has invested heavily in the fundamentals. The entire property has been re-piped with hardline galvanized pipes, new roof vents installed, and every unit equipped with a new heater. A new commercial-grade water heater serves the building, and the studio features a fully remodeled bathroom giving the next owner true peace of mind.
A comprehensive renovation in 2010 modernized the interiors throughout, including remodeled kitchens and bathrooms, upgraded plumbing and electrical, sound insulation between each unit, and beautiful bamboo flooring, all hallmarks of a well-loved, well-maintained property.
Income properties just a short stroll to the sand in Encinitas are as coveted as they are scarce, don't let this one slip by!
****REACH OUT TO CHELSEA TAYLOR DIRECTLY AT (760) 331-7417 or email CHELSEA@CHELSEATAYLORPROPERTIES.COM
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,095,000 | Property Subtype | Apartment |
| Price Per Unit | $2,826 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 3.49% | Building Size | 1,840 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 1095 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1931/2010 |
| Zoning | RS11, Encinitas - RS11 | ||
| Price | $3,095,000 |
| Price Per Unit | $2,826 |
| Sale Type | Investment |
| Cap Rate | 3.49% |
| Sale Condition | 1031 Exchange |
| No. Units | 1095 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 1,840 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1931/2010 |
| Zoning | RS11, Encinitas - RS11 |
Amenities
Unit Amenities
- Cable Ready
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Vaulted Ceiling
- Oven
- Range
Site Amenities
- Fenced Lot
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 223 | $2,395 | 1 - 368 |
| 1+1 | 872 | $2,573 | 1 - 368 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 256-374-15 | Total Assessment | $2,789,700 (2025) |
| Land Assessment | $2,550,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $239,700 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
256-374-15
Land Assessment
$2,550,000 (2025)
Improvements Assessment
$239,700 (2025)
Total Assessment
$2,789,700 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Contact the Sale Advisor
Moonlight Village | 215 Lolita St