This 56-unit apartment building is being offered as a portfolio with the adjacent storage facility (MLS #260015292). The properties must be purchased together. The adjacent properties provide stable cash flow and benefit from shared operations. The apartment community has been well maintained and the majority of the units have been renovated over the years with updates to the kitchens and bathrooms. Investors have the opportunity to further increase revenue through the installation of in-unit washers and dryers, a proven amenity that can command meaningful rent premiums. Located in one of San Diego County's most affluent and supply-constrained submarkets, the property benefits from strong demographics, highly rated schools, and significant barriers to new development.
The offering is a 56-unit apartment community and a 48-unit self-storage facility located in Poway, California. The adjacent properties provide stable cash flow and benefit from shared operations. The apartment community has been well maintained and the majority of the units have been renovated over the years with updates to the kitchens and bathrooms. Investors have the opportunity to further increase revenue through the installation of in-unit washers and dryers, a proven amenity that can command meaningful rent premiums. Located in one of San Diego County's most affluent and supply-constrained submarkets, the property benefits from strong demographics, highly rated schools, and significant barriers to new development.
Poway is located in California. Poway, California has a population of 49,005. Poway is more family-centric than the surrounding county with 34.16% of the households containing married families with children. The county average for households married with children is 33.76%.
The median household income in Poway, California is $119,847. The median household income for the surrounding county is $88,240 compared to the national median of $69,021. The median age of people living in Poway is 41.6 years.
The average high temperature in July is 87.2 degrees, with an average low temperature in January of 42.7 degrees. The average rainfall is approximately 13.3 inches per year, with 0 inches of snow per year.
