$9,060,000
FOR SALEActive234 W Kalmia
Fallbrook CA 92028
N/A
SF
Mixed Use
Type
N/A
Built
N/A
Cost/SF
Listing Agent
Location Analysis
About This Property
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. Included 2 properties and 4 parcels - 234 W Kalmia Street & 420 N. Pico Ave, Fallbrook, CA 92028. APN: 103-131-06, 07 & 08 and 103-131-01-00
Property Information
Property Overview
Commercial - MixedUse
Property Type
Active
Status
54
Total Units
$542K
NOI
Property Highlights
N/A Property
Prime Location with High Visibility
Location Analysis
Building Details
Zoning & Use
Investment Metrics
$541,778
NOI
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Closed commercial sales reported, newest first.
CRMLS
MLS# 260022912SD
Listed:
Nalren refreshed:
Last updated
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Listed by: Eric D. Comer, Broker
Equal Housing Opportunity
Advertising Broker: Nalren Corp (CA DRE #02423715)
Licensed in the state of California
Nalren Corp (CA DRE #02423715) is the Advertising Broker for this IDX display. We are not the listing broker for this property. The listing broker/agent information is shown above. Contact the listing agent for inquiries.