Welcome to 1942 South Broadway, a well located, six-unit apartment building in the high-demand rental market of Escondido. Constructed in 1970 this 5,031 square foot property is comprised of five spacious 1 bedroom 1 bath units and one 4 bedroom 2 bath detached house with its own exclusive pool. This strong unit mix provides for a cash flowing investment opportunity that may also be ideal for an owner-occupant.
Nestled on top of a hill at the end of the road, 1942 South Broadway is one of only 3 other multi-family properties on this street. With the majority of the surrounding properties being single family homes, a new owner may experience a higher rental demand as tenants prefer to live in less densely populated neighborhoods as it affords a more peaceful and private living experience. The large over 15,000 square foot lot provides for an unconstrained space with ample parking for tenants and their guests including 7 tucker under spaces and 4 off street spaces.
One of the one-bedroom units has been completely remodeled to include new cabinetry, countertops, and flooring. Now leased for $1,350 per month, this remodeled unit provides a new buyer with a template and a basis for strong rental upside on the remaining units. Boasting exceptional access to freeways, schools, parks, grocery, shopping and services, 1942 South Broadway is ideally located less than 5 minutes away from Inter-state 15, and less than 1 mile from San Pasqual High School, Juniper Elementary School, Trader Joes, Vons, CVS, Jimbo’s Naturally, Westfield North County Mall, Wells Fargo Bank, and Escondido’s 285-acre municipal Kit Carson Park. With many other nearby points of interest that include the San Diego Safari Park and the San Diego Children’s Museum.
The benefits of 1942 South Broadway are many, however in today’s low inventory multi-family market, this highly desirable investment or owner-occupant opportunity will not last long. Call today and don’t miss your chance to own this cash flowing investment opportunity.