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Patricia Beattie

patricia@brivio.com +1(415) 286-8292

$9,060,000

Est. payment - /mo

58 Beds

54 Baths

34,813 SqFt

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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

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Listed by Eric D Comer, DRE#00842230 Eric D. Comer, Broker

Nearby School & Business

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Patricia Beattie

+1(415) 286-8292

Broker License ID: 01405369

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234 W Kalmia Fallbrook, CA 92028

Patricia Beattie

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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