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Solara Apartments 725 Alturas Ln 13 Unit Apartment Building $3,475,000 ($267,308/Unit) 6.60% Cap Rate Fallbrook, CA 92028
Investment Highlights
- Desirable 1988 vintage asset located in the Fallbrook submarket.
- Extensively remodeled interiors featuring high-end, modern finishes.
- Stabilized asset with in-place market rents.
- Comprised entirely of two-bedroom/two-bathroom units averaging over 925 SF.
- Abundant off-street parking for tenants.
- Historically low vacancy driven by a supply-constrained rental market.
Executive Summary
We are pleased to present the “Solara Apartments,” a 13-unit multifamily community located in Fallbrook, CA. Located at 725 Alturas Lane, the property offers investors the opportunity to acquire a well-positioned asset in a growing North San Diego County submarket known for its relative affordability and strong rental demand.
Built in 1988, the property is comprised entirely of thirteen (13)two-bedroom/two-bathroom residences averaging approximately 927 square feet. Each unit has been extensively remodeled and features upgraded bathrooms, stainless steel appliances, and quartz kitchen countertops with black, grey, and white backsplash tile. The property amenities also include air conditioners, off-street parking, on-site laundry facilities, pet area, and a BBQ and shared patio area.
Situated on a 0.57-acre lot, the property benefits from a low-density setting with a residential feel. Residents enjoy convenient access to local retail, schools, and employment centers, along with regional connectivity to Oceanside, Temecula, and greater San Diego County. With its desirable unit composition, strong in-place income, and favorable submarket fundamentals, the “Solara Apartments” represents a compelling opportunity to acquire a stable, income-producing asset with long-term upside potential.
Built in 1988, the property is comprised entirely of thirteen (13)two-bedroom/two-bathroom residences averaging approximately 927 square feet. Each unit has been extensively remodeled and features upgraded bathrooms, stainless steel appliances, and quartz kitchen countertops with black, grey, and white backsplash tile. The property amenities also include air conditioners, off-street parking, on-site laundry facilities, pet area, and a BBQ and shared patio area.
Situated on a 0.57-acre lot, the property benefits from a low-density setting with a residential feel. Residents enjoy convenient access to local retail, schools, and employment centers, along with regional connectivity to Oceanside, Temecula, and greater San Diego County. With its desirable unit composition, strong in-place income, and favorable submarket fundamentals, the “Solara Apartments” represents a compelling opportunity to acquire a stable, income-producing asset with long-term upside potential.
Property Facts
| Price | $3,475,000 | Property Subtype | Apartment |
| Price Per Unit | $267,308 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.57 AC |
| Cap Rate | 6.60% | Building Size | 12,050 SF |
| Gross Rent Multiplier | 10.51 | No. Stories | 2 |
| No. Units | 13 | Year Built | 1988 |
| Property Type | Multifamily | ||
| Zoning | RU | ||
| Price | $3,475,000 |
| Price Per Unit | $267,308 |
| Sale Type | Investment |
| Cap Rate | 6.60% |
| Gross Rent Multiplier | 10.51 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.57 AC |
| Building Size | 12,050 SF |
| No. Stories | 2 |
| Year Built | 1988 |
| Zoning | RU |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 12 | $2,179 | 925 - 950 |
| 2+2 | 1 | $2,250 | 950 |
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Fairly walkable
40/100
Exceptionally drivable
90/100
Minimal public transit
10/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 104-100-54 | Improvements Assessment | $1,027,115 |
| Land Assessment | $928,466 | Total Assessment | $1,955,581 |
Property Taxes
Parcel Number
104-100-54
Land Assessment
$928,466
Improvements Assessment
$1,027,115
Total Assessment
$1,955,581
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Solara Apartments | 725 Alturas Ln