Description
We are pleased to offer The Grand @ City Center apartments located in the heart of Escondido. The property is situated on two adjacent parcels on the corner of S Maple Street and W 3rd Avenue with close proximity to downtown Escondido. The opportunity contains a very dynamic unit mix of a 3br/1ba SFR, 6-1br/1ba detached cottages (with private yards), one 2br/1ba apartment, five 1br/1ba apartments and five studio apartments. Other amenities include six single car garages (perfect for an ADU conversion) and laundry facilities. The property offers a very quaint courtyard style atmosphere as current ownership has implemented many recent capital improvements (see OM). There is also significant rental upside potential. *** There is new loan on the property with Chase Bank that has a current loan balance of $2,225,000. The loan has an interest rate of 3.37% and has interest only payments through 10/1/2024. Then it converts to a fixed rate (fully amortized) of 3.37% until 10/1/2026.
Location
Listing Agent: Josh Browar Courtesy of: The Browar Group The real estate listing information is provided by California Regional MLS, Inc. and/or CARETS® for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing or leasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS, Inc. and/or CARETS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns the web site. Information is deemed reliable but not guaranteed, and consumer is responsible for verifying the accuracy of all information. Copyright © California Regional MLS, Inc. and/or CARETS®. All Rights Reserved. Updated: 21st March, 2023 10:30 AM (UTC)
