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The Downtown Escondido Apartments 331 E Washington Ave 11 Unit Apartment Building $3,699,000 ($336,273/Unit) 5.31% Cap Rate Escondido, CA 92025
Investment Highlights
- 1988 Construction
- 90 Walk Score - 3 Minute Walk to Downtown Escondido
- $103,000 Average Household Income
- (10) 2 Bedroom / 1 Bath Units & 1 Studio N/C (All recently renovated)
- 5.31% Current CAP Rate | 6.63% Pro Forma CAP Rate
- No Local Rent Control
Executive Summary
This 1988 constructed investment is just a three-minute walk from Downtown Escondido and consists of (10) 2 Bedroom Units, plus a non-conforming studio ADU. All units have been recently renovated, providing a low-maintenance investment with immediate cash flow. The property offers a 5.31% current cap rate with upside to a 6.63% pro forma cap rate. Situated in a highly walkable location with a 90 Walk Score, the property is just 0.4 to 0.6 miles from Downtown Escondido's restaurants, retail, and entertainment. The surrounding area boasts an average household income of approximately $103,000, with 65% renter occupancy, while homeownership costs are approximately double the average apartment rent, supporting strong long-term rental demand. Additionally, the property is not subject to local rent control, providing greater operational flexibility for future ownership.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) 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 (Actual - 2025) 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 | $3,699,000 | Property Subtype | Apartment |
| Price Per Unit | $336,273 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.31% | Lot Size | 0.34 AC |
| Sale Condition | Build to Suit | Building Size | 7,920 SF |
| Gross Rent Multiplier | 12.88 | No. Stories | 2 |
| No. Units | 11 | Year Built/Renovated | 1988/2024 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Zoning | S-P - Specific Plan | ||
| Price | $3,699,000 |
| Price Per Unit | $336,273 |
| Sale Type | Investment |
| Cap Rate | 5.31% |
| Sale Condition | Build to Suit |
| Gross Rent Multiplier | 12.88 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 7,920 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1988/2024 |
| Opportunity Zone |
Yes |
| Zoning | S-P - Specific Plan |
Amenities
Unit Amenities
- Balcony
- Ceiling Fans
- Stainless Steel Appliances
Site Amenities
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 10 | - | 820 |
| Studios | 1 | - | 500 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 229-310-75 | Total Assessment | $3,774,000 (2026) |
| Land Assessment | $2,550,000 (2026) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,224,000 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
229-310-75
Land Assessment
$2,550,000 (2026)
Improvements Assessment
$1,224,000 (2026)
Total Assessment
$3,774,000 (2026)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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