Address
725 E Elder Fallbrook, CA
Price
$ 1,200,000
Property Attributes
  • MLS#210014898
  • TypeMulti-Family
  • CountySAN DIEGO
  • CityFallbrook
  • AreaFallbrook
  • NeighborhoodElder
  • Zip92028
  • Style2-4 UNITS
  • Price$ 1,200,000
  • Bedrooms10
  • Full Bathrooms4
  • Half Bathrooms4
  • Sqr Footage4200
Listing Provided Courtesy Of:
South Coast Commercial, Inc.
Data Source:
San Diego MLS
Property Description

The Elder Street Apartments represent a true value add opportunity in the North San Diego County community of Fallbrook. The opportunity consists of a 4 unit building with the potential to add the adjacent property at 729 E. Elder, for a total of 8 units on 2 separate parcels enabling the investor to lock in 30 year fixed rate debt at historically low rates on each building. Constructed in 1965, 725 E. Elder rests on a slab foundation with stucco and frame construction. The 2 story building has a unit mix consisting of two 2 bedroom 1.5 bath units plus two 3 bedroom 1.5 bath units, with all units over 1050 square feet. Separately metered for gas and electric, the units have long term tenants with a solid payment history. The roof was replaced in 2017 and the boiler in 2016 so major systems are relatively new. All plumbing angle stops have been replaced, all toilets are low flow, and plumbing lines are copper. There is a laundry room with leased equipment providing the residents with onsite convenience plus extra income for the owner. Parking is via carports. Purchase this as a 4 unit investment or combine with 729 E. Elder for an 8 unit asset with no income fluctuation from interest rate uncertainty due to the ability to use 30 year fixed rate debt.

Price History
6/1/2021 Listed $1,200,000

General Features

CFD/Mello-Roos Fee 0.0
Community FALLBROOK
Cooling Wall/Window
Features Laundry Facilities
Neighborhood Elder
Other Fees 0.0
Roof Other/Remarks
Sale/rent For Sale
Security N/K
Senior Community Y/N N/K
Stories 2 Story
Terms Cash, Conventional
Total Units 4
Year Built 1965

Interior Features

# Of Units W/range/oven 4
# Of Units W/refrigerator 4
Unit 1 # Bedrooms 2
Unit 1 # Of Full Baths 1
Unit 1 # Of Half Baths 1
Unit 1 # Total Baths 2
Unit 1 Estimated Sqft 1050
Unit 1 Laundry Hook Ups No
Unit 2 # Bedrooms 2
Unit 2 # Of Full Baths 1
Unit 2 # Total Baths 2
Unit 2 Estimated Sqft 1050
Unit 2 Laundry Hook Ups No
Unit 3 # Bedrooms 3
Unit 3 # Of Full Baths 1
Unit 3 # Of Half Baths 1
Unit 3 # Total Baths 2
Unit 3 Estimated Sqft 1050
Unit 3 Laundry Hook Ups No
Unit 4 # Bedrooms 3
Unit 4 # Of Full Baths 1
Unit 4 # Of Half Baths 1
Unit 4 # Total Baths 2
Unit 4 Estimated Sqft 1050
Unit 4 Laundry Hook Ups No
Units w/Cooling 4

Exterior Features

# Of Units W/patios 2
Complex/park Elder Apartments
Exterior Stucco
Fencing Partial
Lot Size Area 7, 500-10, 889 SF
Number of Buildings 1
Parking Non-garage Unit 1 Carport
Parking Non-garage Unit 2 Carport
Parking Non-garage Unit 3 Carport
Parking Non-garage Unit 4 Carport
Unit 1 Exclusive Use Yard No
Unit 2 # Of Half Baths 1
Unit 2 Exclusive Use Yard No
Unit 3 Exclusive Use Yard No
Unit 4 Exclusive Use Yard No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 92028

Price
AVG $980K
$1.2M
Visits
AVG 7
6
Year Built
AVG 1968
1965
Walkscore
AVG 41
56
Data Provided by Walkscore ® not using MLS data

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