Description

Easy cash flow opportunity in East Escondido. The Cambria Townhomes is a 5 unit apartment building that has been 80%(4 of the 5 units) renovated by the current ownership since 2023 with the remaining unit having been renovated several years prior. Upgrades include but are not limited to quartz countertops in kitchens and baths as well as new cabinets, in unit laundry hookups, luxury vinyl plank flooring, dual pane vinyl windows, new exterior fencing for the back of the units, upgraded appliances and fixtures. Built in 1973, the property has spacious units with 3 of the 5 units townhouse style and the remaining 2 being flats. There is a direct entrance from the parking area into each unit for resident's convenience. Current ownership replaced the roof and fascia of the building in December 2023 and at the same time replaced the roof of the carports. There are RUBS in place that generate an additional $375 monthly revenue offsetting the water, sewer, and trash expense. Walking distance to Orange Glen High School, this property is a cash cow with upside by completing the renovation of the 5th unit and raising rents as allowed over time knowing that there will be little ongoing maintenance.