318 E Washington Avenue

Description

Zorbas, Huffman, & Partners of Marcus & Millichap are pleased to present 318 E Washington Ave., a 6-unit multifamily asset located in Escondido, California, near Escondido’s historic downtown district and Escondido Transit Center. The property is comprised of (6) two-bedroom / one-bathroom floorplans averaging 792 square feet of living area. The property features ample parking with a mix of carports and open spaces. The site orientation is ideal, residents enjoy quick access to countless restaurants, cafes, museums, salons, spas, entertainment, shopping, and neighborhood amenities. With proximity to the Escondido Transit Center, the downtown district and Grand Avenue corridor are centered around Smart Growth initiatives by SANDAG and the City of Escondido, intended to enhance the area by encouraging transit-oriented land uses and future developments. The Grand Avenue Vision Project is a $15 million community-driven objective underway to enhance the corridor with widened sidewalks, improved parking, expanded outdoor dining space, new lighting, and a new Charity Arch over Grand Avenue that befittingly showcases the vibrant neighborhood and transit gateway. With an upward trajectory of activity in the submarket, along the 78 Corridor & North I-15, demand for multifamily is increasing. The submarket boasts a strong employment base that continues to diversify, bringing new residents and attractive rents. Notably, Apple purchased 67-acres in Rancho Bernardo that will likely be used for chip manufacturing.

Listing information courtesy of: Austin Huffman, Marcus & Millichap 858-373-3100. *Based on information from the Association of REALTORS/Multiple Listing as of 10/25/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.