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3 Detached Cottages 537 De Luz Rd 3 Unit Apartment Building $1,584,677 CAD ($528,226 CAD/Unit) 5% Cap Rate Fallbrook, CA 92028
Investment Highlights
- Three (3) Detached Cottage Style Houses on One Lot
- All Units Have Private Yards, In-Unit Laundry, & Off-Street Parking
- Fantastic Location in One of San Diego’s Strongest Rental Markets
- Two (2) Detached 2Bdrm/1Bthrm Houses + One (1) Detached Studio
- Well-Maintained / High Income Property
- Walking Distance to Downtown Fallbrook & Nearby Ammunition Rd w/ Direct Access to Camp Pendleton
Executive Summary
The Cottages at De Luz uniquely offers three (3) detached homes on one lot. Situated on a 7,353sf parcel, the property consists of two (2) 2Bedroom / 1Bathroom units and one (1) Studio. Each unit is an individual cottage featuring in-unit laundry, a large private fenced yard, and off-street parking. Conveniently located, tenants can
walk to downtown Fallbrook and are
1.7 miles to Camp Pendleton.
This well-maintained and upgraded property is the perfect opportunity for an investor looking for a unique multifamily asset with high income or an owner-occupant looking for extra income to cover the mortgage.
walk to downtown Fallbrook and are
1.7 miles to Camp Pendleton.
This well-maintained and upgraded property is the perfect opportunity for an investor looking for a unique multifamily asset with high income or an owner-occupant looking for extra income to cover the mortgage.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$114,841
|
$66.31
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,445
|
$1.99
|
| Effective Gross Income |
$111,396
|
$64.32
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$32,112
|
$18.54
|
| Net Operating Income |
$79,283
|
$45.78
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $114,841 |
| Annual Per SF | $66.31 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $3,445 |
| Annual Per SF | $1.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $111,396 |
| Annual Per SF | $64.32 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $32,112 |
| Annual Per SF | $18.54 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $79,283 |
| Annual Per SF | $45.78 |
Property Facts
| Price | $1,584,677 CAD | Apartment Style | Garden |
| Price Per Unit | $528,226 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5% | Building Size | 1,732 SF |
| Gross Rent Multiplier | 13.8 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 1.73/1,000 SF |
| Zoning | RU - Residential | ||
| Price | $1,584,677 CAD |
| Price Per Unit | $528,226 CAD |
| Sale Type | Investment |
| Cap Rate | 5% |
| Gross Rent Multiplier | 13.8 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 1,732 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1960 |
| Parking Ratio | 1.73/1,000 SF |
| Zoning | RU - Residential |
Amenities
Site Amenities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $2,473 CAD | 400 |
| 2+1 | 2 | $3,548 CAD | 600 - 735 |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 103-117-01 | Improvements Assessment | $159,183 CAD |
| Land Assessment | $723,563 CAD | Total Assessment | $882,746 CAD |
Property Taxes
Parcel Number
103-117-01
Land Assessment
$723,563 CAD
Improvements Assessment
$159,183 CAD
Total Assessment
$882,746 CAD
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3 Detached Cottages | 537 De Luz Rd
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