503 E Grand Ave, Escondido, CA 92025
112 units - Senior
Another “post-year 15” tax credit property, Villa Escondido is an independent-living apartment complex for seniors, aged 55 and older. The community offers daily breakfast, activities and events, a parking garage, weekly transportation services to grocery stores, and weekly housekeeping.
Located in the center of downtown Escondido, this Spanish-villa-inspired property has 112 units of studio and one-bedroom floorplans, all of which have rents restricted to 45% and 50% of the area median income, as adjusted for household size, although many of the units are even lower (more affordable). Since acquiring the property in 2017, we have been working to find the optimal blend of services to the residents, rents charged, and property improvements. As we move into 2019, we will be implementing a number of capital improvements to make this beautiful property even nicer.