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1707 Chalcedony St

San Diego, CA 92109
  • $8,750,000
  • STATUS: ACTIVE
  • ON SITE: 22 Days
  • ID#: 240009994
UPDATED: 113 min ago
$8,750,000
  • 3
    BEDS
  • 0.3
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Perfect portfolio addition! Ownership is now in the 3rd generation of the same family, so here is your opportunity to acquire a VERY rare offering in North Pacific Beach! Priced well below estate appraisals for immediate sale, these two 16-unit buildings are available on the same block with just one property separating. They are being offered individually or as a pair for the perfect 32-unit acquisition. Excellent unit mix along with great onsite parking. The properties have been professionally managed for a very long time, including highly involved onsite managers. The vast majority of the units have been remodeled and project a current coastal tenant living expectation. Each has an onsite laundry facility, as well as video surveillance. The properties are uniquely set in a multifamily to single family transition neighborhood area, so the overall location feel is far superior to many PB offerings. The asset definitely has "value add" options for future income growth. This property exudes a pride of ownership location and a "Legacy" label, considering the long-term ownership history is clearly appropriate. Excellent documented history for income and expenses, including invested capital and maintenance costs, is available through the well-respected property management firm for the future owner. Call for additional details!

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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/150286403
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1707 Chalcedony St San Diego, CA 92109

  • Price: $8,750,000
  • Status: ACTIVE
  • On Site: 22 Days
  • Updated: 113 min ago
  • ID#: 240009994
3
Beds
3
Baths
0
½ Baths
0.3
Acres
Neighborhood:
Pacific Beach (92109)
County:
San Diego
Area:
Pacific Beach (92109)
Property Description
Perfect portfolio addition! Ownership is now in the 3rd generation of the same family, so here is your opportunity to acquire a VERY rare offering in North Pacific Beach! Priced well below estate appraisals for immediate sale, these two 16-unit buildings are available on the same block with just one property separating. They are being offered individually or as a pair for the perfect 32-unit acquisition. Excellent unit mix along with great onsite parking. The properties have been professionally managed for a very long time, including highly involved onsite managers. The vast majority of the units have been remodeled and project a current coastal tenant living expectation. Each has an onsite laundry facility, as well as video surveillance. The properties are uniquely set in a multifamily to single family transition neighborhood area, so the overall location feel is far superior to many PB offerings. The asset definitely has "value add" options for future income growth. This property exudes a pride of ownership location and a "Legacy" label, considering the long-term ownership history is clearly appropriate. Excellent documented history for income and expenses, including invested capital and maintenance costs, is available through the well-respected property management firm for the future owner. Call for additional details!
Exterior Features

Carports 0 Construction DrywallStoneStucco Parking Spaces Parking Spaces Total 16 Roof Other/Remarks Units With Garages 0

Interior Features

Cooling None Floor Coverings Other/Remarks Heating Radiant Laundry Leased Sq Ft Of Improvement 11170 Stories 2 Story Unit Furnished1 No Unit Furnished2 No

Property Features

Actual Cap Rate 3.28 Actual Gross Operating Income 451656 Actual Gross Scheduled Income 484680.0 Actual Operating Expense 175967 Actual Taxes Expense 16384 Assumable Finance 0 Buildings 2 Financial Information Source Owner Gross Equity 8123091 Gross Multiplier 18.05 Have North PB Legacy Building Leased Apartments 16 Mandatory Remarks None Known Market Area Coastal South Monthly Rent Total 40390 Motive Want Cash Out/Sale Projected Taxes Expense 105000 Short Sale No Sq Ft Source Tax Record Tenant Pays Electric Y Tenant Pays Gas Y Tenant Pays Water N Terms CashCash to New Loan Unit Number1 12 Unit Number2 4 Unit Rent Total1 29690 Unit Rent Total2 10700 Unit Rent1 $2135-$2695 Unit Rent2 $850-$3400 Unit Type Apartment

San Diego MLS logo Listing provided courtesy of Ken Pecus of eXp Realty of California, Inc: 619-675-0123. 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