303 W Clemmens Ln, Fallbrook, CA 92028

Property Description

Suburban North San Diego County. Fully Renovated. 100% 2BR Units! Avocado Place is an excellent apartment investment opportunity located in North San Diego County in Fallbrook, CA. Just minutes to downtown Fallbrook Main Avenue with tree lined streets, restaurants, shops and more, the location is prime. With easy access to employment along the I-78 Corridor (Oceanside to Escondido) and a short drive to Cal State University San Marcos (the fastest growing University in California), Palomar College, Temecula and much more, Fallbrook is considered a desirable enclave separated from the hustle and bustle of urban city life. The property is within close proximity to spectacular wineries/vineyards, wedding venues, golf, equestrian centers, airport/airpark and more. The property was originally built in 1988 and was extensively renovated in 2019/2020. Upgrades include (but not limited to) new roof, new dual pane windows, exterior paint and stucco repair, asphalt, flooring, stainless appliances, in-unit washer/dryers, plank flooring, quartz counters, new cabinets, custom backsplash, new sinks & faucets, new bathrooms, and much more. The owner also added a 22nd unit with permits. Buyer to verify. The submarket vacancy rate of 1.8% (Costar) in Fallbrook is the lowest in San Diego County, with no new construction of apartments in the pipeline. 8.4% Cash on Cash Yield from Day 1. Please contact brokers for Offering Memorandum.