647 San Dieguito Dr., Encinitas, CA 92024

Property Description

Once in a lifetime opportunity in prime Encinitas Highlands location: five unit opportunity! FIFTH UNIT is single family HOME~charming, spacious 3 br, 2 ba, approx. 1350 sq ft, with hardwood floors, remodeled kitchen, family room, dedicated laundry facilities & dedicated fenced front & rear yards. The 4 one bedroom units are located in separate building on rear portion of large 9818 sq ft lot. Four 1 br. units share large fenced yard & share coin-operated laundry facilities & storage areas. A truly rare opportunity to purchase an income property of this caliber within easy walk to the vibrant village of downtown Encinitas with shops, restaurants, library, Enc. train station, Moonlight Beach, Swamis Beach park, & more! All units updated with renovated kitchens + one unit has deck & one unit has a patio. Roofs recently updated &/or replaced. Easy beach cruiser ride to Cardiff with Cardiff Market & Leucadia with farmer's market, restaurants & more. Short walk from property to La Paloma Theater, Encinitas Library & 3 beaches. Property is well-maintained reflecting present owner's pride of ownership & excellent management during their ownership. Dedicated parking spaces for all units, plus additional parking in driveway. Over-sized 9818 sq ft lot presents an incredible value in itself, in addition to the first class location: both of which ensure continued consistent+maximized income potential. All units consistently rented with no vacancies. See attachments in MLS for seller's P & L , rent roll. income statement, more info on units from City of Enc. & state housing info. . Ideal opportunity for owner occupant in main house, enjoying excellent rental income from the four 1 br. units! Present rent on 3 br. home is below market due to tenants being in residency for long time. Home lease and 3 other leases on 1 br units are presently month to month. Prospects to review all attachments in MLS: including rent roll, income statement/P&L, and information regarding rentals in City of Encinitas, prior to writing offer. This property represents an amazing once in a lifetime opportunity= an excellent real estate investment is all about location, location, location, and timing...and this property offers both. Units & home consistently rented. One partner in LLC is licensed to sell real estate in Calif. Two water meters, one gas and electric meter. Owner pro-rates utility costs over the five units which are paid to seller monthly with actual rents. Pro-rated utility reimbursements are included in the rents reflected in MLS, and on rent roll attachment. Amazing opportunity to live west of I-5 within walking distance to the village of Encinitas, 3 world class beaches, Enc Library, Enc. train station, La Paloma Theater, dog parks and more! Great value for owner occupied buyer to live in front house and enjoy the excellent rental income that the four units in the rear of the property provide! Or achieve additional excellent rental income from main house as well. RENTS: Front home rent is below market due to long term tenant in occupancy, which is now on a month to month tenancy: present rent: $4800 + monthly pro-rated utility reimbursement to owner of $230=$5030 mo. total income on this unit). All rents reflected in MLS include tenants additional pro-rated utility reimbursement to seller each month: Each charming, light & bright 1 br unit pays pro-rated $115 a month for their utilities in addition to their actual rents. Same pro-rated utility reimbursements are included in the rental income numbers in MLS & on P&L attachment ) Seller disclosure: brick fireplace in main house is not being used at this time. Seller has estimate for recommended maintenance~available upon request.