2466 Cranston Dr Unit 70 Escondido, CA 92025
Kit Carson NeighborhoodEstimated Value: $1,419,000 - $1,651,034
6
Beds
5
Baths
4,281
Sq Ft
$359/Sq Ft
Est. Value
Highlights
- RV Access or Parking
- Panoramic View
- Property Near a Canyon
- San Pasqual High School Rated A-
- 3 Acre Lot
- Tennis Courts
About This Home
As of March 2015***SEE ATTACHED MARKETING BROCHURE FOR COMPLETE DETAILS*** Available for sale is a truly unique investment opportunity in southern Escondido just 1/2 mile East of the 15 Freeway and less than 30 miles from downtown San Diego . The property consists of 3 separate homes situated on a massive ~3 acre lot. The property is currently being operated as a rental and all 3 homes are occupied. The homes include a huge 3 bedroom 3 bath unit, a 2 bedroom 1 bath house and a 1 bedroom 1 bath unit. Available for sale is a truly unique investment opportunity in southern Escondido just 1/2 mile East of the 15 Freeway and less than 30 miles from downtown San Diego . The property consists of 3 separate homes situated on a massive ~3 acre lot. The property is currently being operated as a rental and all 3 homes are occupied. The homes include a huge 3 bedroom 3 bath unit, a 2 bedroom 1 bath house and a 1 bedroom 1 bath unit. All the homes have incredible mountain and valley views to the North and East. This private and secluded location offers an investor endless possibilities. 1) Continue to rent the property and gradually increase the rents as improvements are made. 2) Live in 1 of the homes and collect rent from the other units. 3) Make this your family compound with separate homes for family members. 4) Develop the site into 4 custom homes (see following page for development information). Since the property is less than 4 units it qualifies for attractive 30 year residential financing at incredibly low rates. The property features a country-living setting with wide open green space, mature trees and plants, long private driveway, garden areas, ample parking and it even has a basketball/volleyball court. The location is just blocks to Center City Parkway which gets you to the 15 Freeway in 3 minutes and all the shopping and dining destinations in Downtown Escondido is just 5 minutes. The property feels very rural/remote yet its in the middle of everything. The current owner hired an engineer to draft plans for a potential lot split as the underlying zoning allows for 4 custom homes to be built on the site. Below is the tentative subdivision map that has been approved by the City of Escondido. This subdivision allows the current lot to be split into 4 parcels ranging from 20,000 - 33,000 sq ft on which you could build 4 homes. The owner of the adjacent property to the West has included his property in the potential subdivision plan which would yield another 2 home sites. There is a possibility to share some of the cost of infrastructure with the neighboring land owner as a portion of roads and utilities will be shared across the sites. The neighbor's portion of the project is highlighted in yellow and IS NOT included in the sale of the subject property. The complete set of engineering documents and zoning information is available upon request. Current ownership HAS NOT done anything beyond ordering these plans nor have they obtained any bids to complete the work.
Last Agent to Sell the Property
Urban West Ventures License #01350200 Listed on: 01/14/2015
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,015
Year Built
- Built in 1957
Lot Details
- 3 Acre Lot
- Property Near a Canyon
- Open Space
- Private Streets
- Gated Home
- Partially Fenced Property
- Gentle Sloping Lot
- Grove
Parking
- RV Access or Parking
Property Views
- Panoramic
- Mountain
- Valley
- Park or Greenbelt
Home Design
- Ranch Property
- Composition Roof
- Wood Siding
- Stucco Exterior
Interior Spaces
- 1-Story Property
- Fireplace
Schools
- Escondido Union School District Elementary And Middle School
- Escondido Union High School District
Utilities
- Cooling System Mounted To A Wall/Window
- Heating System Uses Natural Gas
Listing and Financial Details
- Tenant pays for electricity, gas/propane
- Assessor Parcel Number 238-142-26-00
Community Details
Overview
- 3 Buildings
- 3 Units
Recreation
- Tennis Courts
Building Details
- Net Operating Income $36,626
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jan 14, 2015
Closed on
Mar 19, 2015
Sold by
Arens Scott B and Arens Jo Anne
Bought by
Moorehoward Investments Llc
Seller's Agent
Alexander Mickle
Urban West Ventures
Buyer's Agent
Alexander Mickle
Urban West Ventures
List Price
$795,000
Sold Price
$700,000
Premium/Discount to List
-$95,000
-11.95%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$836,509
Avg. Annual Appreciation
7.68%
Original Mortgage
$715,000
Interest Rate
3.65%
Mortgage Type
Unknown
Purchase Details
Closed on
Nov 28, 2006
Sold by
Licari James
Bought by
Delgado Alex and Delgado Roberta Y
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$601,200
Interest Rate
5.87%
Mortgage Type
Unknown
Purchase Details
Closed on
Feb 2, 2000
Sold by
Gladys Bronner
Bought by
Licari James
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$240,000
Interest Rate
9.62%
Purchase Details
Closed on
Jan 10, 1997
Sold by
Universal Life Church All One Faith In One Go
Bought by
Bronner Emanuel H and Bronner Gladys
Purchase Details
Closed on
Aug 28, 1995
Sold by
Bronner Emmanuel H and Bronner Gladys
Bought by
Bronner Emanuel H and Bronner Gladys
Similar Homes in Escondido, CA
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Moorehoward Investments Llc | $665,000 | Chicago Title Company | |
| Delgado Alex | $780,000 | Ticor Title San Diego | |
| Licari James | $300,000 | Commonwealth Land Title Co | |
| Bronner Gladys | -- | Commonwealth Land Title Co | |
| Bronner Emanuel H | -- | -- | |
| Bronner Emanuel H | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Moorehoward Investments Llc | $3,325,000 | |
| Closed | Moorehoward Investments Llc | $585,000 | |
| Closed | Moorehoward Investments Llc | $715,000 | |
| Previous Owner | Delgado Alex | $601,200 | |
| Previous Owner | Licari James | $356,000 | |
| Previous Owner | Licari James | $240,000 | |
| Closed | Licari James | $60,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/30/2015 03/30/15 | Sold | $700,000 | -11.9% | $164 / Sq Ft |
| 03/06/2015 03/06/15 | Pending | -- | -- | -- |
| 01/12/2015 01/12/15 | For Sale | $795,000 | -- | $186 / Sq Ft |
Source: San Diego MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $9,015 | $783,550 | $372,665 | $410,885 |
| 2023 | $8,811 | $768,187 | $365,358 | $402,829 |
| 2022 | $8,718 | $753,126 | $358,195 | $394,931 |
| 2021 | $8,578 | $738,360 | $351,172 | $387,188 |
| 2020 | $8,528 | $730,790 | $347,572 | $383,218 |
| 2019 | $8,323 | $716,461 | $340,757 | $375,704 |
| 2018 | $8,094 | $702,414 | $334,076 | $368,338 |
| 2017 | $7,963 | $688,642 | $327,526 | $361,116 |
| 2016 | $7,811 | $675,140 | $321,104 | $354,036 |
| 2015 | $5,018 | $428,491 | $203,795 | $224,696 |
| 2014 | $4,813 | $420,098 | $199,803 | $220,295 |
Source: Public Records
Agents Affiliated with this Home
-
Alexander Mickle
Seller's Agent in 2015
Alexander Mickle
Urban West Ventures
(619) 307-3782
5 Total Sales
Map
Source: San Diego MLS
MLS Number: 150002347
APN: 238-142-26
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