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$995,000
Est. payment /mo
0.27 Acres Lot
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision East Escondido
MLS Listing ID 260024731SD
HOA Y/N No
Year Built 1949
Lot Size 0.272 Acres
Property Description
Discover an exceptional investment opportunity in the heart of Escondido! Situated on an approximately 11,859 sq. ft. corner lot, this property features two attached units totaling approximately 1,948 sq. ft. One unit offers 2 bedrooms and 1 bathroom; the other offers 3 bedrooms and 1 bathroom. Both units are occupied by established tenants on month-to-month leases, generating approximately $6,000 in combined monthly rent. According to the property management company, the tenants have generated relatively few maintenance requests over the past eight years. The generous lot and secondary access from the backyard add appeal for investors interested in exploring future development. Buyers may investigate the possibility of adding two ADUs or up to three additional units, subject to zoning, feasibility, permits, and city approval; no additional units are guaranteed. Conveniently located near Downtown Escondido, shopping, dining, parks, schools, and major transportation routes. Whether you're expanding your rental portfolio or seeking a property with long-term upside, this versatile offering combines existing rental income, desirable lot size, and exciting possibilities for the future. Buyer to verify all information, including rents, tenancy, unit details, and development potential. Welcome to 561 E Mission Avenue, a unique opportunity to acquire a two-unit property situated on a generous parcel in an established Escondido neighborhood. Offering approximately 1,948 square feet of combined living space on an approximately 11,859-square-foot corner lot, this property presents a compelling opportunity for investors, owner-occupants, and buyers seeking long-term real estate ownership in North San Diego County. One of the property's most appealing features is its substantial lot size. The spacious parcel provides outdoor areas and possibilities for buyers interested in exploring future improvements or alternative uses, subject to applicable zoning regulations, permit requirements, and city approval. The corner location further contributes to the property's distinctive setting. The existing two-unit configuration offers flexibility for different ownership strategies. Investors may appreciate the opportunity to operate both residences as rental properties, while buyers interested in owner occupancy may explore the possibility of living in one unit and renting the other, depending on existing tenancy arrangements and applicable requirements. The ability to evaluate multiple approaches to ownership makes this property particularly appealing. Location is another advantage. Situated near Downtown Escondido, the property provides convenient access to shopping, dining, schools, parks, local services, and major transportation routes connecting Escondido with surrounding North San Diego County communities. For buyers considering long-term ownership, the combination of an established residential property, a generous land parcel, and two existing units creates opportunities worth exploring. Whether your goal is to acquire a rental investment, establish a home with supplemental income potential, or evaluate the property's suitability for future improvements, this offering deserves consideration. Buyers are encouraged to independently verify all property information, including square footage, lot dimensions, existing improvements, legal unit configuration, zoning, permits, leases, rental income, utility arrangements, and any potential future uses with the appropriate authorities. Take advantage of this opportunity to own a versatile multifamily property in Escondido.
Location
State CA
County San Diego
Area 92025 - Escondido
Zoning R-3:RESTRI
Interior
Heating Natural Gas
Cooling None
Fireplace No
Appliance Gas Water Heater
Exterior
Fence Partial
Pool None
View Y/N Yes
View None
Roof Type Composition
Private Pool No
Building
Story 1
Entry Level One
Level or Stories One
Others
Senior Community No
Tax ID 2292304000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Ryan Khayamian Bluxen, Inc. #02226223
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