234 W Kalmia, Fallbrook, CA 92028

Fallbrook
Local realty services provided by:ERA North Orange County Real Estate
234 W Kalmia,Fallbrook, CA 92028
$9,060,000
  • 58 Beds
  • 54 Baths
  • 34,813 sq. ft.
  • Multi-family
  • Active
Listed by: eric d comer
Office: eric d. comer, broker
MLS#:260022912
Source:San Diego MLS via CRMLS

Price summary

  • Price:$9,060,000
  • Price per sq. ft.:$260.25

About this home

The offering presents an opportunity to acquire a 54- unit senior multifamily portfolio comprised of two adjacent properties, Kalmia Courtyard and De Luz Apartments, in Fallbrook, California. Properties must be purchased together. The portfolio offers predictable rent growth through rents tied to Area Median Income (AMI) rather than market rents. Constructed in 1988 and 1997, the properties also offer newer construction, potentially reducing maintenance and long-term capital expenditures. Due to the recorded Regulatory Agreement, the portfolio qualifies for Low-Income Housing property tax abatement. Seller to convey 501(c)3 nonprofit entity to assist buyer with structure. The adjacent properties can be operated separately or together, providing operational efficiencies while maintaining separate income streams and flexibility to sell the proper ties individually in the future. Located within walking distance of Downtown Fallbrook, residents benefit from convenient access to locally...

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Home facts

  • Listing ID #:260022912
  • Added:53 day(s) ago
  • Updated:November 11, 2026 at 03:45 PM

Rooms and interior

  • Bedrooms:58
  • Total bathrooms:54
  • Full bathrooms:54
  • Living area:34,813 sq. ft.

Structure and exterior

  • Building area:34,813 sq. ft.
  • Construction Materials:Frame, Stucco

Finances and disclosures

  • Price:$9,060,000
  • Price per sq. ft.:$260.25

Parking

  • Parking description:Garages, Spaces
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