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3 Detached Cottages 537 De Luz Rd 3 Unit Apartment Building $1,150,000 ($383,333/Unit) 5% Cap Rate Fallbrook, CA 92028
Investment Highlights
- Three (3) Detached Cottage Style Houses on One Lot
- All Units Have Private Yards, In-Unit Laundry, & Off-Street Parking
- Fantastic Location in One of San Diego’s Strongest Rental Markets
- Two (2) Detached 2Bdrm/1Bthrm Houses + One (1) Detached Studio
- Well-Maintained / High Income Property
- Walking Distance to Downtown Fallbrook & Nearby Ammunition Rd w/ Direct Access to Camp Pendleton
Executive Summary
The Cottages at De Luz uniquely offers three (3) detached homes on one lot. Situated on a 7,353sf parcel, the property consists of two (2) 2Bedroom / 1Bathroom units and one (1) Studio. Each unit is an individual cottage featuring in-unit laundry, a large private fenced yard, and off-street parking. Conveniently located, tenants can
walk to downtown Fallbrook and are
1.7 miles to Camp Pendleton.
This well-maintained and upgraded property is the perfect opportunity for an investor looking for a unique multifamily asset with high income or an owner-occupant looking for extra income to cover the mortgage.
walk to downtown Fallbrook and are
1.7 miles to Camp Pendleton.
This well-maintained and upgraded property is the perfect opportunity for an investor looking for a unique multifamily asset with high income or an owner-occupant looking for extra income to cover the mortgage.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$83,340
|
$48.12
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,500
|
$1.44
|
| Effective Gross Income |
$80,840
|
$46.67
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$23,304
|
$13.45
|
| Net Operating Income |
$57,536
|
$33.22
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $83,340 |
| Annual Per SF | $48.12 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,500 |
| Annual Per SF | $1.44 |
| Effective Gross Income | |
|---|---|
| Annual | $80,840 |
| Annual Per SF | $46.67 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $23,304 |
| Annual Per SF | $13.45 |
| Net Operating Income | |
|---|---|
| Annual | $57,536 |
| Annual Per SF | $33.22 |
Property Facts
| Price | $1,150,000 | Apartment Style | Garden |
| Price Per Unit | $383,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5% | Building Size | 1,732 SF |
| Gross Rent Multiplier | 13.8 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 1.73/1,000 SF |
| Zoning | RU - Residential | ||
| Price | $1,150,000 |
| Price Per Unit | $383,333 |
| Sale Type | Investment |
| Cap Rate | 5% |
| Gross Rent Multiplier | 13.8 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 1,732 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1960 |
| Parking Ratio | 1.73/1,000 SF |
| Zoning | RU - Residential |
Amenities
Site Amenities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,795 | 400 |
| 2+1 | 2 | $2,575 | 600 - 735 |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 103-117-01 | Improvements Assessment | $116,732 |
| Land Assessment | $530,604 | Total Assessment | $647,336 |
Property Taxes
Parcel Number
103-117-01
Land Assessment
$530,604
Improvements Assessment
$116,732
Total Assessment
$647,336
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3 Detached Cottages | 537 De Luz Rd
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