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$ 9,060,000
Est. payment /mo
New
234 W Kalmia Fallbrook, CA 92028
58 Beds
54 Baths
34,813 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 34,813 sqft
Price per Sqft $260
MLS Listing ID 260022912
Bedrooms 58
Full Baths 54
Property Sub-Type Com-Res Income
Property Description
The offering presents an opportunity to acquire a 54- unit senior multifamily portfolio comprised of two adjacent properties, Kalmia Courtyard and De Luz Apartments, in Fallbrook, California. Properties must be purchased together. The portfolio offers predictable rent growth through rents tied to Area Median Income (AMI) rather than market rents. Constructed in 1988 and 1997, the properties also offer newer construction, potentially reducing maintenance and long-term capital expenditures. Due to the recorded Regulatory Agreement, the portfolio qualifies for Low-Income Housing property tax abatement. Seller to convey 501(c)3 nonprofit entity to assist buyer with structure. The adjacent properties can be operated separately or together, providing operational efficiencies while maintaining separate income streams and flexibility to sell the proper ties individually in the future. Located within walking distance of Downtown Fallbrook, residents benefit from convenient access to locally owned shops, restaurants, boutiques, galleries, and everyday services in a charming small-town setting.
Location
State CA
County San Diego
Community Elevator
Area North County
Interior
Fireplace No
Exterior
Parking Features Garages, Spaces
View Y/N No
Building
Dwelling Type Apartment
Story 2
Others
Senior Community No
Tax ID 103-131-01-00
Listed by Eric D Comer, DRE#00842230 Eric D. Comer, Broker