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2250-54 Garnet Ave

San Diego, CA 92109
  • $3,000,000
  • STATUS: ACTIVE
  • ON SITE: 37 Days
  • ID#: 220016929
UPDATED: 57 min ago
$3,000,000
  • 10
    BEDS
  • 0.14
    ACRES
  • 5
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Construction Complete, fully renovated, and rented. Incredible opportunity- ready to generate cash! All units are 2bed/1baths. Bungalow (Detached) 929sf w/ private laundry. Four-Plex has 2 units on first level and 2 units on second level. First level units are 646sf each - Second level units are 722sf each. Renovations include new waterproof flooring throughout, new kitchen cabinets, quartz countertops, new appliances, new built-ins throughout, upgraded electrical. Two of the five units were updated in the past 6 years. Three of the five units were renovated (2022) throughout. Additional renovations completed by the seller: Exterior paint, roof replacement, updated electrical, hedge trimming, parking space expansion, Hardscape cleaning, Laundry room renovation. Zoning may allow additional non-residential uses. See zoning info in documents tab. All units are rented - two units are on month to month and below market rent (raised this year). Three units are in 12 month leases (expire 2023). Opportunity to increase revenue: Units 2254 & 2254 1/2 are below market rent on Month to Month (Increase annual income ~$19,800), add coin laundry to increase revenue, add water meters.

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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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/130498745
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2250-54 Garnet Ave San Diego, CA 92109

  • Price: $3,000,000
  • Status: ACTIVE
  • On Site: 37 Days
  • Updated: 57 min ago
  • ID#: 220016929
10
Beds
5
Baths
0
½ Baths
0.14
Acres
Neighborhood:
Pacific Beach (92109)
County:
San Diego
Area:
Pacific Beach (92109)
Property Description
Construction Complete, fully renovated, and rented. Incredible opportunity- ready to generate cash! All units are 2bed/1baths. Bungalow (Detached) 929sf w/ private laundry. Four-Plex has 2 units on first level and 2 units on second level. First level units are 646sf each - Second level units are 722sf each. Renovations include new waterproof flooring throughout, new kitchen cabinets, quartz countertops, new appliances, new built-ins throughout, upgraded electrical. Two of the five units were updated in the past 6 years. Three of the five units were renovated (2022) throughout. Additional renovations completed by the seller: Exterior paint, roof replacement, updated electrical, hedge trimming, parking space expansion, Hardscape cleaning, Laundry room renovation. Zoning may allow additional non-residential uses. See zoning info in documents tab. All units are rented - two units are on month to month and below market rent (raised this year). Three units are in 12 month leases (expire 2023). Opportunity to increase revenue: Units 2254 & 2254 1/2 are below market rent on Month to Month (Increase annual income ~$19,800), add coin laundry to increase revenue, add water meters.
Exterior Features

Carports 0 Construction BrickDrywallFrameLath/PlasterStucco Exterior Front SprinklersFully LandscapedMetal Fence Parking Spaces Parking Spaces Total 5 Roof Composition Units With Garages 0

Interior Features

Cooling Wall/Window Heating Wall Sq Ft Of Improvement 3817 Stories 2 Story Unit Furnished1 No Unit Furnished2 No Unit Furnished3 No Unit Furnished4 No Unit Furnished5 No Units With Dishwashers 3 Units With Disposals 3 Units With Drapes 5 Units With Ranges 5 Units With Refrigerators 5

Property Features

Actual Cap Rate 4.16 Actual Gardener Expense 840 Actual Gas And Electric 1185 Actual Gross Scheduled Income 155400.0 Actual License Expense 75 Actual Operating Expense 13065.35 Actual Prop Management 15540 Actual Taxes Expense 1970.96 Actual Trash Expense 2208 Actual Water Sewer Expense 6432.27 Assumable Finance 0 Buildings 2 Existing Financing Clear Gross Equity 3000000 Gross Multiplier 19.3 Have Real Estate Leased Apartments 5 Mandatory Remarks None Known Market Area Coastal South Monthly Rent Total 12950 Motive Want Cash Out - Seller May Carry Present Loan 0 Projected Annual Pi Expense 2400 Projected Cap Rate 3.5 Projected Cash Flow 105369 Projected Fl Ins Expense 2400 Projected Gardener Expense 840 Projected Gas And Electric 1185 Projected Gross Scheduled Inc 175200 Projected Net Income 105369 Projected Operating Expense 50031 Projected Taxes Expense 36966 Projected Trash Expense 2208 Projected Water And Sewer Expense 6432.27 Short Sale No Sq Ft Source Taped Tenant Pays Electric Y Tenant Pays Gas Y Tenant Pays Water N Terms CashOther/Remarks Unit Number1 1 Unit Number2 1 Unit Number3 1 Unit Number4 1 Unit Number5 1 Unit Rent1 3400 Unit Rent2 2140 Unit Rent3 1810 Unit Rent4 2800 Unit Rent5 2800 Unit Type Apartment Zoning Co-1-2

San Diego MLS logo Listing provided courtesy of Realty And Design Of San Diego. Listing information © 2022 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 © 2022 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