305 W Clemmens Ln

3
Baths
18,840 Sq. Ft.
$311 / Sq. Ft.
18,840
Sq. Ft.
$311
per Sq. Ft.

Description

- Classic value-add opportunity– being sold by original developer from 1986 (35+ year ownership) - 70% Seller financing @ 5% I. O. for 5 years for qualified buyers - 80% +/- upside in rents post renovation - Primarily 2BR Units (2 – 1BR/1BA, 18 – 2BR/1BA and 2 – 3BR/1BA) - Newer roof - Individual hot water heaters – more efficient operations - Balconies with views for both 3BR units - Upscale city park / playground across the street Clemmens Lane County Park- Classic value-add opportunity– being sold by original developer from 1986 (35+ year ownership) - 70% Seller financing @ 5% I. O. for 5 years for qualified buyers - 80% +/- upside in rents post renovation - Primarily 2BR Units (2 – 1BR/1BA, 18 – 2BR/1BA and 2 – 3BR/1BA) - Newer roof - Individual hot water heaters – more efficient operations - Balconies with views for both 3BR units - Upscale city park / playground across the street Clemmens Lane County Park
  1. Listed by Corey McHenry • DRE #01800485 • David Santistevan
    P: (619)-565-0179 C: (619)-565-0179 corey.mchenry@colliers.com

Property Details for 305 West Clemmens Lane

Parking Garage
Spaces
Area Zip
FALLBROOK (92028)
Standard Status
Closed
LISTING UPDATED: 01/30/2025 06:58 PM

Property Details for 305 West Clemmens Lane

StatusSold
MLS #230023941
Days on Market25
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial-Res Income / Com-Res Income
Year Built-
Lot Size-
CountySan Diego County

Location

Listing Courtesy of David Santistevan, Corey McHenry, DRE #01800485

Sold By David Santistevan, Corey McHenry, DRE #01800485

Add your commute

Building Information for 305 West Clemmens Lane

Stories2Residences22Year Built-Building Size-Lot Size-

Payment Calculator

$33,874 per month

30 year fixed, 6.15% Interest

Principal and Interest

$28,522

Property Taxes

$5,352

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 305 West Clemmens Lane

Summary
Location and General Information
  • Coordinates: -117.254255, 33.370069
  • Latitude: 33.370069
  • Longitude: -117.254255
  • MLS Area Major: North County
Parking
  • Parking Features: Spaces
Property
Lot Information
  • Building Area Total: 18840.0
  • Building Area Units: Sqft
  • Living Area: 18840
  • Living Area Units: Sqft
  • Lot Size Area: 0.0
  • Lot Size Units: Acres
  • Lot Size:
  • Building Area Source: Buyer to Verify
Property and Assessments
  • Property Sub Type: Com-Res Income
  • Property Type: Residential Income
  • Year Built: 0
  • Assumable Finance: 0.0
Interior and Exterior Features
Exterior Features
  • Number Of Buildings: 2
Interior Features
  • Bathrooms Half: 0
  • Stories: 2
  • Levels: 2 Story
  • Bedrooms Count: 6
  • Baths Total: 3.0
Multi Family
Income & Expenses
  • Operating Expense: $205,163
  • Proj Gross Sched Income: 658680
  • Proj Gross Multiplier: 8.57
  • Proj Gross Operating Inc: 660444
  • Proj Operating Expense: 190726
  • Projected Net Income: 469718
  • Gross Scheduled Income: $374,400
Multi Family Information
  • Num of Units1: 2
  • Num of Units2: 18
  • Num of Units3: 2
  • Number Of Units Total: 22

Property History for 305 West Clemmens Lane

DateEvent & SourcePriceAppreciation
Feb 14, 2024

Sold

SDMLS #230023941

$5,852,000
Feb 7, 2024

Sold (Public Record)

Public Record #1526989625

$5,852,000

+10.7% / yr

Jan 5, 2024

Pending

SDMLS #230023941

Dec 11, 2023

Listed (Active)

SDMLS #230023941

$5,830,000
Nov 16, 2001

Sold (Public Record)

Public Record #80104708

$605,000
DateEvent & SourcePrice
02/14/2024

Sold

SDMLS #230023941

$5,852,000
02/07/2024

Sold (Public Record)

Public Record #1526989625

$5,852,000

+10.7% / yr

01/05/2024

Pending

SDMLS #230023941

12/11/2023

Listed (Active)

SDMLS #230023941

$5,830,000
11/16/2001

Sold (Public Record)

Public Record #80104708

$605,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 305 West Clemmens Lane

Taxable ValueLand$1,326,000Additions$4,643,040Total$5,969,040
Tax Record2025$64,220 ($5,352 / month)
Home Facts
Total Finished SqFt18,840 SqFtAbove Grade Finished SqFt18,840 SqFtLot Size31,363 SqFtStyleMulti-Family Res (5+ Units)Year Built1986ZoningR-4:MULTIPLECountySAN DIEGOAPN104-162-64-00

Schools near 305 West Clemmens Lane

This home is within Fallbrook Union High School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - 4 to 8
Rating
School
Distance
Live Oak Elementary School
PublicK to 6

James E. Potter Intermediate School
Public7 to 8

Fallbrook High School
Public9 to 12

Santa Margarita Academy
Public4 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of David Santistevan, Corey McHenry, DRE #01800485

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