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1061-77 20th Street

San Diego, CA 92102
  • $1,600,000
  • STATUS: ACTIVE
  • ON SITE: 22 Days
  • ID#: 240009553
$1,600,000
  • 1
    BEDS
  • 0.11
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

1061-71 20th Street, a 1923 built 6-unit apartment community in the high demand submarket of Golden Hill. Located on "The Slope", the 20th Street Apartments lies on one of the most coveted pockets of the 92102 zip code. Residents enjoy close proximity to Downtown San Diego, shops and restaurants of Golden Hill, and convenient freeway access to everything San Diego has to offer. The 20th Street Apartments consists of three 1 bed/1 bath units and three studio units situated on a 5,008 square foot parcel of land. Residents enjoy a lush tropical landscaped common area with tasteful unit interiors. The property also has two oversized single garages and on-site laundry with owned equipment. Since being purchased in 2005, current ownership has taken good care of the subject property but an opportunity exists for a new owner to modernize the property and substantially increase rents. The two single garages also present the potential opportunity to take advantage of the City of San Diego's generous ADU program and create an additional 2 units.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/150126465
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1061-77 20th Street San Diego, CA 92102

  • Price: $1,600,000
  • Status: ACTIVE
  • On Site: 22 Days
  • ID#: 240009553
1
Beds
2
Baths
0
½ Baths
0.11
Acres
Neighborhood:
San Diego (92102)
County:
San Diego
Area:
San Diego (92102)
Property Description
1061-71 20th Street, a 1923 built 6-unit apartment community in the high demand submarket of Golden Hill. Located on "The Slope", the 20th Street Apartments lies on one of the most coveted pockets of the 92102 zip code. Residents enjoy close proximity to Downtown San Diego, shops and restaurants of Golden Hill, and convenient freeway access to everything San Diego has to offer. The 20th Street Apartments consists of three 1 bed/1 bath units and three studio units situated on a 5,008 square foot parcel of land. Residents enjoy a lush tropical landscaped common area with tasteful unit interiors. The property also has two oversized single garages and on-site laundry with owned equipment. Since being purchased in 2005, current ownership has taken good care of the subject property but an opportunity exists for a new owner to modernize the property and substantially increase rents. The two single garages also present the potential opportunity to take advantage of the City of San Diego's generous ADU program and create an additional 2 units.
Interior Features

Sq Ft Of Improvement 2267

Property Features

Actual Cap Rate 2.47 Actual Fl Ins Expense 5400 Actual Gardener Expense 3450 Actual Gross Operating Income 81673 Actual Gross Scheduled Income 83580.0 Actual Maintenance Expense 6000 Actual Operating Expense 42209 Actual Other Expense 1000 Actual Prop Management 4084 Actual Taxes Expense 19553 Actual Total Expense 42209 Actual Vacancy And Credit Loss 2507 Actual Water Sewer Expense 2722 Assumable Finance 0 Buildings 3 Complex Features Other/Remarks Gross Equity 1600000 Gross Multiplier 19.14 Have Real Estate Mandatory Remarks None Known Market Area Metro Central Motive Want Sell Other Income Actual 600 Projected Cap Rate 7.63 Projected Fl Ins Expense 5400 Projected Gardener Expense 2000 Projected Gross Multiplier 9.32 Projected Gross Operating Inc 167052 Projected Gross Scheduled Inc 171600 Projected Maintenance Expense 6000 Projected Net Income 122024 Projected Operating Expense 45028 Projected Other Expense 1000 Projected Other Income 600 Projected Property Mgmt Expense 8353 Projected Taxes Expense 19553 Projected Vacancy And Credit Loss 5148 Projected Water And Sewer Expense 2722 Short Sale No Unit Number1 3 Unit Number2 3 Unit Rent Total1 3090 Unit Rent Total2 3875 Unit Rent1 1030 Unit Rent2 1292

San Diego MLS logo Listing provided courtesy of Dylan Wright of MD Real Estate, Inc: 619-255-3233. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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The Neuman Team
516 5th Avenue
San Diego CA, 92101