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411 Waverly Pl - Waverly Place Apartments 14 Unit Apartment Building Offered at $900,000 at a 7% Cap Rate Escondido, CA 92025
Investment Highlights
- Qualified Opportunity Zone ( 1.0 & 2.0 Eligible )
- Highly Desired Development Area by Escondido Planning Dept
- Flag Lot with Natural Open Space Boundary via Adjacent Escondido
- Low Operating Cost Strategy available for Developer/Owner/User
Executive Summary
Prime central Escondido development site in a qualified opportunity zone ( version 2.0 eligible ) with conceptual building plans for 6-14 units. Preliminary conversations between architect and Escondido planning dept provide a promising landscape for approval to build a high density multifamily project.
Existing SFR is occupied by long term tenants ( month to month ) DO NOT DISTURB OCCUPANTS . Call Brokers to schedule site tour. Interior of house to be shown with accepted offer.
Existing SFR is occupied by long term tenants ( month to month ) DO NOT DISTURB OCCUPANTS . Call Brokers to schedule site tour. Interior of house to be shown with accepted offer.
Financial Summary (Pro Forma - 2027) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$399,120
|
$44.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$11,974
|
$1.35
|
| Effective Gross Income |
$387,146
|
$43.64
|
| Taxes |
$44,000
|
$4.96
|
| Operating Expenses |
$62,517
|
$7.05
|
| Total Expenses |
$106,517
|
$12.01
|
| Net Operating Income |
$280,629
|
$31.63
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income | |
|---|---|
| Annual | $399,120 |
| Annual Per SF | $44.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $11,974 |
| Annual Per SF | $1.35 |
| Effective Gross Income | |
|---|---|
| Annual | $387,146 |
| Annual Per SF | $43.64 |
| Taxes | |
|---|---|
| Annual | $44,000 |
| Annual Per SF | $4.96 |
| Operating Expenses | |
|---|---|
| Annual | $62,517 |
| Annual Per SF | $7.05 |
| Total Expenses | |
|---|---|
| Annual | $106,517 |
| Annual Per SF | $12.01 |
| Net Operating Income | |
|---|---|
| Annual | $280,629 |
| Annual Per SF | $31.63 |
Property Facts
Amenities
Site Amenities
- Waterfront
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | 600 - 1,000 |
| 1+1 | 10 | - | 450 - 750 |
| Studios | 1 | - | 300 - 350 |
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Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
40/100
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Matterport 3D Exterior
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Photos
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Street
Map
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