Colliers International San Diego Region this week announced the sale of a 15-unit multifamily property in Escondido for $3,395,000. The total 9,472-square foot building is comprised of all one-bedroom and one-bathroom units.
Peter Scepanovic and Corey McHenry of Colliers International San Diego Region’s Multi-Family Advisory Team represented the buyer, Hama Investments, LLC. Ray Adams of Cushman & Wakefield represented the seller, the Cunningham Family Trust.
The completely renovated property is located at 1015 E. Ohio Avenue, Escondido. The exteriors feature new windows, fencing, paint, landscaping and upgraded light fixtures. The interiors have been completely upgraded with plank flooring, recessed lighting, upgraded kitchens, luxury gas ranges, new bathrooms, mirrored closet doors and designer two-tone interior paint.
“This upgraded property is in a desirable and centrally located neighborhood of Escondido that greatly appeals to renters,” said McHenry. “With new residential projects planned nearby that will further enhance the area, this property will be a strong, stable investment for the new ownership long-term.”