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    1929 Columbia St

    San Diego, CA 92101
    • $13,250,000
    • STATUS: ACTIVE
    • ON SITE: 30 days
    • ID#: 210024197
    UPDATED: 65 min ago
    $13,250,000
    • 6
      BEDS
    • 0.12
      ACRES
    • 7
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    Wealth Accumulation has never been so beautiful with this architecturally daring ultra modern and sleek apartment building in the center of Little Italy; Downtown San Diego's hottest and most developing neighborhood! A world class asset surpassing every expectation for Southern California’s high-end real estate and truly a unique phenomenon anywhere in the globe, this penthouse is highly cultivated and detail rich, with sweeping views of the San Diego Bay and Pacific Ocean. Not only is it first in class, it also generates substantial income from the 17 apartment units to which it soars above. The offering is the ENTIRE building, which includes the nearly 7,000 sq. ft. penthouse (interior and exterior) in addition to 4 x 2 bedroom units, 12 x 1 bedroom units and a ground floor studio. While the building has verifiable income today, the possibilities are endless as entire floors can be adapted for other use types: convert a floor for employees’ office space, host out of town guests, run your own bed and breakfast, the options are truly endless!

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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 © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/120791342
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    1929 Columbia St San Diego, CA 92101

    • Price: $13,250,000
    • Status: ACTIVE
    • Updated: 65 min ago
    • ID#: 210024197
    6
    Beds
    7
    Baths
    0
    ½ Baths
    0.12
    Acres
    Neighborhood:
    San Diego Downtown (92101)
    County:
    San Diego
    Area:
    San Diego Downtown (92101)
    Property Description
    Wealth Accumulation has never been so beautiful with this architecturally daring ultra modern and sleek apartment building in the center of Little Italy; Downtown San Diego's hottest and most developing neighborhood! A world class asset surpassing every expectation for Southern California’s high-end real estate and truly a unique phenomenon anywhere in the globe, this penthouse is highly cultivated and detail rich, with sweeping views of the San Diego Bay and Pacific Ocean. Not only is it first in class, it also generates substantial income from the 17 apartment units to which it soars above. The offering is the ENTIRE building, which includes the nearly 7,000 sq. ft. penthouse (interior and exterior) in addition to 4 x 2 bedroom units, 12 x 1 bedroom units and a ground floor studio. While the building has verifiable income today, the possibilities are endless as entire floors can be adapted for other use types: convert a floor for employees’ office space, host out of town guests, run your own bed and breakfast, the options are truly endless!
    Exterior Features

    Carports 0 Construction BlockStucco Exterior Fully Landscaped Parking Garages Parking Spaces Total 9 Roof Other/Remarks

    Interior Features

    Cooling Central Forced Air Elec Floor Coverings Other/Remarks Floors Slab Heating Central Forced Air Elec Laundry Owned Sq Ft Of Improvement 13984 Units With Dishwashers 18 Units With Disposals 18 Units With Ranges 18 Units With Refrigerators 18

    Property Features

    Actual Cap Rate 3.34 Actual Cash On Cash 3.34 Actual Gas And Electric 9000 Actual Gross Operating Income 690967 Actual Gross Scheduled Income 711598.0 Actual Maintenance Expense 16200 Actual Operating Expense 248087 Actual Other Expense 19542 Actual Prop Management 20729 Actual Taxes Expense 163736 Actual Total Expense 248087 Actual Trash Expense 6000 Actual Water Sewer Expense 4320 Assumable Finance 0 Buildings 1 Complex Features Elevator Existing Financing Other/Remarks Financial Information Source Owner Fiscal Year From 21 Fiscal Year To 21 Gross Equity 0 Gross Multiplier 18.62 Have 17 Units + Ph Mandatory Remarks None Known Market Area Metro Central Monthly Rent Total 57307 Motive Want Sell Other Income Amount 23914 Other Income Source ParkEtc. Projected Cap Rate 3.63 Projected Cash On Cash 3.63 Projected Fl Ins Expense 8560 Projected Fl Ins Expense1 8560 Projected Gas And Electric 9000 Projected Gross Multiplier 17.63 Projected Gross Operating Inc 729580 Projected Gross Scheduled Inc 751414 Projected Maintenance Expense 16200 Projected Net Income 480335 Projected Operating Expense 249245 Projected Other Expense 19542 Projected Other Income 23614 Projected Property Mgmt Expense 21887 Projected Taxes Expense 163736 Projected Total Expense 249245 Projected Trash Expense 6000 Projected Vacancy And Credit Loss 21834 Projected Water And Sewer Expense 4320 Sq Ft Source Plans Tenant Pays Electric Y Tenant Pays Gas Y Tenant Pays Water Y Terms CashOwner May Carry 1StOwner May Carry 2NdExchange DownExchange Up Unit Number1 1 Unit Number2 12 Unit Number3 4 Unit Number4 1 Unit Rent Total1 1500 Unit Rent Total2 24782 Unit Rent Total3 11025 Unit Rent Total4 20000 Unit Rent1 1500 Unit Rent2 2200 Unit Rent3 2775 Unit Rent4 20000 Unit Type Apartment Zoning Commercial

    Listing provided courtesy of Compass. Listing information © 2021 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 © 2021 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