San Marcos Place Apartments

228-232 Las Flores Drive | San Marcos | CA | 92069


Confidentiality Agreement

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Property Details

  • Price: $ 6,820,000
  • Price Per Unit: $ 310,000.00
  • Units: 22
  • Transaction Type: For Sale
  • Property Type: Multi-Family
  • Building Size: 18,472 SF
  • Cap Rate: 4.16%
  • Year Built: 1979
  • No. Stories: 3
  • Availability: Sold

Property Description

ACRE Investment Real Estate Services is pleased to offer the San Marcos Place Apartments (the “Property”), an attractive rental community located in San Marcos, CA. The offering presents real estate investors the opportunity to acquire a stabilized real estate asset that has been meticulously renovated and professionally managed. The property is being offered free and clear of debt encumbrances.

The Property consists of a nicely landscaped setting spread out on a large lot totaling 12,554 sq. ft. Originally constructed in 1979, the Property was extensively renovated in 2018 and is well-maintained by the current ownership.

San Marcos Place Apartments consists of 22 spacious two-bedroom / one-bath apartments (approximately 840 square feet) with large 12-foot sliding glass doors leading to oversized balconies. The Property provides tenants with secure off-street tuck-under parking and modern laundry facilities. The renovation of the property consisted of both the exterior of the building and the interiors of seventeen (17) of the units. The exterior renovations include – paint, a new roof, new vinyl windows, and an electric gate with an intercom, which allows access to the property and added security. The interiors were appointed with – new cabinets, granite countertops, and appliances including – refrigerators, ranges, dishwashers, and built-in microwaves, fixtures, and sinks. In addition, laminate vinyl plank flooring was added to the living areas with new baseboards throughout. New light fixtures, ceiling fans, double-mirrored closets, window coverings, interior doors, and mini-split HVAC systems were also included as part of the renovation.

All the units enjoy amazing views of the valley and fresh breezes from the ocean. The property features ample tuck-under parking, storage rooms, laundry facilities, and a gated and secure entrance.


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Financial Summary

Investment Highlights

Price $6,820,000.00
Price / Unit $310,000.00
Gross Rent Multiplier 0.00
Proposed Loan Amount $0.00
Initial Investment $6,820,000.00


Income & Expenses



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Net Operating Income $0.00 $0.00
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Potential Net Cash Flow $0.00 $0.00
Cash on Cash Return 0.00 % 0.00 %
Capitalization Rate 0.00 % 0.00 %

Rent Roll

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