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2666-80 Boston Ave

San Diego, CA 92113
  • $3,150,000
  • STATUS: ACTIVE
  • ON SITE: 20 Days
  • ID#: 220000349
UPDATED: 11 min ago
$3,150,000
  • 1
    BEDS
  • 0.32
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

2666-80 Boston Ave are located in the submarket of Barrio Logan. The property consists of 14 one bedroom one bath units in seven different buildings. All units are duplexes with only one shared common walls. Vast majority of the rentals were renovated with new cabinets, quartz counter tops, and upgraded bathrooms in 2018. 4 off street parking spaces, common laundry room, as well as private storage for most units. Complexes are on two parcels totaling 13,999 sq. ft. which allows for multiple exit strategies. Current owner lives out of state and has not been proactive in bringing rents to market. There is a significant rental upside with minimal renovation costs needed. Additional room off alley to build some more units for even more value add potential. These units are in high demand due to their location within Barrio Logan and the very close proximity of the various employers like NASSCO, BAE Systems, General Dynamics, and Naval Bases.

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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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/124552317
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2666-80 Boston Ave San Diego, CA 92113

  • Price: $3,150,000
  • Status: ACTIVE
  • On Site: 20 Days
  • Updated: 11 min ago
  • ID#: 220000349
1
Beds
1
Baths
0
½ Baths
0.32
Acres
Neighborhood:
Logan Heights (92113)
County:
San Diego
Area:
Logan Heights (92113)
Property Description
2666-80 Boston Ave are located in the submarket of Barrio Logan. The property consists of 14 one bedroom one bath units in seven different buildings. All units are duplexes with only one shared common walls. Vast majority of the rentals were renovated with new cabinets, quartz counter tops, and upgraded bathrooms in 2018. 4 off street parking spaces, common laundry room, as well as private storage for most units. Complexes are on two parcels totaling 13,999 sq. ft. which allows for multiple exit strategies. Current owner lives out of state and has not been proactive in bringing rents to market. There is a significant rental upside with minimal renovation costs needed. Additional room off alley to build some more units for even more value add potential. These units are in high demand due to their location within Barrio Logan and the very close proximity of the various employers like NASSCO, BAE Systems, General Dynamics, and Naval Bases.
Exterior Features

Parking Spaces Total 4

Interior Features

Sq Ft Of Improvement 6601 Unit Furnished1 No

Property Features

Actual Cap Rate 3.33 Actual Gross Operating Income 175042 Actual Gross Scheduled Income 176736.0 Actual Operating Expense 69921 Actual Vacancy And Credit Loss 5414 Assumable Finance 0 Buildings 7 Gross Equity 0 Gross Multiplier 17.5 Have Apartments Mandatory Remarks None Known Market Area Metro Central Monthly Rent Total 15038 Motive Want 1031 Other Income Actual 3720 Other Income Amount 310 Projected Cap Rate 5.7 Projected Gross Multiplier 12.3 Projected Gross Operating Inc 248514 Projected Gross Scheduled Inc 252000 Projected Net Income 178593 Projected Operating Expense 69921 Projected Other Income 4200 Projected Vacancy And Credit Loss 7686 Unit Number1 14 Unit Rent Total1 14112 Unit Rent1 1008

Listing provided courtesy of South Coast Commercial, Inc.. Listing information © 2022 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 © 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