234 W Kalmia, Fallbrook, CA 92028
234 W Kalmia, Fallbrook, CA 92028
234 W Kalmia, Fallbrook, CA 92028
234 W Kalmia, Fallbrook, CA 92028
234 W Kalmia, Fallbrook, CA 92028
234 W Kalmia, Fallbrook, CA 92028
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Jeffrey Walker

Jeffrey Walker

+1(949) 903-3731
$ 9,060,000
Est. payment | /mo
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$ 9,060,000
Est. payment | /mo
Save

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID 260022912SD

HOA Y/N No

Property Sub-Type Mixed Use

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. 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

Location

State CA

County San Diego

Area 92028 - Fallbrook

Interior

Fireplace No

Others

Tax ID 1031310100

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Eric Comer Eric D. Comer, Broker #00842230

Nearby Locations

Jeffrey Walker

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 903-3731

jeffrey@walkerpropertygroupca.com

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234 W Kalmia

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