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    1820 Terry Lane

    National City, CA 91950
    • $3,400,000
    • STATUS: ACTIVE
    • ON SITE: 55 days
    • ID#: 200042955
    UPDATED: 49 min ago
    $3,400,000
    • 3
      BEDS
    • 0.8
      ACRES
    • 2
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    National City (91950)
    Type:
    Multi-Family
    County:
    San Diego
    Area:
    National City (91950)

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    Description

    The Terry Lane Apartments consists of a two-story, L-shaped, garden setting spread out on a large lot totaling almost 35,000 sq ft. Originally constructed in 1978, the Property has consistently been renovated and maintained by current ownership. The asset has additional value-add potential through interior renovation and market rent stabilization. The well designed floor plans of the Property consist of Ten (10) 1Bedroom/1Bath units of approximately 650 square feet, and Six (6) Two Bedroom/1Bath units of approximately 750 square feet. Total square feet of residential living space is approximately 11,000 square feet. The Property provides tenants with plenty of off-street parking, laundry facilities, and private patios/balconies.

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    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 © 2020 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/109685323
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    1820 Terry Lane National City, CA 91950

    • Price: $3,400,000
    • Status: ACTIVE
    • Updated: 49 min ago
    • ID#: 200042955
    3
    Beds
    2
    Baths
    0
    ½ Baths
    0.8
    Acres
    Neighborhood:
    National City (91950)
    County:
    San Diego
    Area:
    National City (91950)
    Property Description
    The Terry Lane Apartments consists of a two-story, L-shaped, garden setting spread out on a large lot totaling almost 35,000 sq ft. Originally constructed in 1978, the Property has consistently been renovated and maintained by current ownership. The asset has additional value-add potential through interior renovation and market rent stabilization. The well designed floor plans of the Property consist of Ten (10) 1Bedroom/1Bath units of approximately 650 square feet, and Six (6) Two Bedroom/1Bath units of approximately 750 square feet. Total square feet of residential living space is approximately 11,000 square feet. The Property provides tenants with plenty of off-street parking, laundry facilities, and private patios/balconies.
    Interior Features

    Sq Ft Of Improvement 11000

    Property Features

    Actual Cap Rate 4.26 Actual Gross Scheduled Income 273000.0 Actual Operating Expense 119921 Actual Vacancy And Credit Loss 8190 Assumable Finance 0 Buildings 1 Gross Equity 2200000 Gross Multiplier 12.45 Have 16Units Mandatory Remarks None Known Market Area South Bay Motive Want Sell Projected Cap Rate 5.3 Projected Gross Multiplier 11.39 Projected Gross Scheduled Inc 298440 Projected Net Income 180132 Projected Operating Expense 109355 Projected Vacancy And Credit Loss 8953 Short Sale No Unit Number1 10 Unit Number2 6 Unit Rent Total1 12950 Unit Rent Total2 9600 Unit Rent1 1295 Unit Rent2 1600 Unit Type Apartment

    Listing provided courtesy of Acre Investment Real Estate. Listing information © 2020 San Diego MLS Inc. Source: SDMLS
    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 © 2020 San Diego MLS, Inc. Licensed in the state of California.
     
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    Neuman & Neuman Real Estate Inc.
    516 5th Avenue
    San Diego CA, 92101