2830-2912 E 8th

    National City, CA 91950
    • $1,850,000
    • STATUS: ACTIVE
    • ON SITE: 145 days
    • ID#: 190034791
    $1,850,000
    • 18
      BEDS
    • 0.37
      ACRES
    • 10
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    We are pleased to present 10 units in National City residing on four parcels. The subject properties consist of 3 u at 1427 Roosevelt, 1 - 3bed/1ba & 2 - 1bed/1ba units on a 4,311 sq. ft lot. A duplex at 2830 E 8th, 2 - 2bed/1ba on a 2,276 sq. ft lot. A 900 sq. ft 2bed/1ba single family home at 2840 E Roosevelt on a 2,277 sq. ft lot. Four units at 2908-2912 E 8th consisting of 2 - 3bed/1ba & 2 Studios on a 7,410 sq. ft lot. Combined building and lot square footage are 5,657 & 16,274 respectively. The 3 parcels on E 8th are contiguous. The property is fully occupied with most of the tenants being long term, the rents are slightly below market providing rental upside for the future owner through rent stabilization. The layout and separate parcels also create a unique exit strategy should the future owner decide to sell of the properties individually. This is an ideal investment opportunity for the value-add investor or an exchange buyer looking for a high cash-flow investment in a developing market

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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 © 2019 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/96228129

    2830-2912 E 8th National City, CA 91950

    • Price: $1,850,000
    • Status: ACTIVE
    • ID#: 190034791
    18
    Beds
    10
    Baths
    0
    ½ Baths
    0.37
    Acres
    Neighborhood:
    National City (91950)
    County:
    San Diego
    Area:
    National City (91950)
    Property Description
    We are pleased to present 10 units in National City residing on four parcels. The subject properties consist of 3 u at 1427 Roosevelt, 1 - 3bed/1ba & 2 - 1bed/1ba units on a 4,311 sq. ft lot. A duplex at 2830 E 8th, 2 - 2bed/1ba on a 2,276 sq. ft lot. A 900 sq. ft 2bed/1ba single family home at 2840 E Roosevelt on a 2,277 sq. ft lot. Four units at 2908-2912 E 8th consisting of 2 - 3bed/1ba & 2 Studios on a 7,410 sq. ft lot. Combined building and lot square footage are 5,657 & 16,274 respectively. The 3 parcels on E 8th are contiguous. The property is fully occupied with most of the tenants being long term, the rents are slightly below market providing rental upside for the future owner through rent stabilization. The layout and separate parcels also create a unique exit strategy should the future owner decide to sell of the properties individually. This is an ideal investment opportunity for the value-add investor or an exchange buyer looking for a high cash-flow investment in a developing market
    Exterior Features

    Units With Garages 2

    Interior Features

    Sq Ft Of Improvement 5657 Units With Dishwashers 10 Units With Refrigerators 10

    Property Features

    Actual Cap Rate 5.2 Actual Gross Operating Income 151855 Actual Gross Scheduled Income 156552 Actual Operating Expense 54733 Actual Total Expense 54733 Actual Vacancy And Credit Loss 4697 Assumable Finance 0 Buildings 8 Complex Features Other/Remarks Gross Equity 1150000 Gross Multiplier 11.8 Have 10 Units Leased Apartments 10 Mandatory Remarks None Known Market Area South Bay Monthly Rent Total 13046 Motive Want 1031 Exchange Projected Cap Rate 5.5 Projected Gross Multiplier 11.4 Projected Gross Operating Inc 156849 Projected Gross Scheduled Inc 161700 Projected Net Income 102116 Projected Operating Expense 54733 Projected Total Expense 54733 Projected Vacancy And Credit Loss 4851 Unit Number1 1 Unit Number10 1 Unit Number2 1 Unit Number3 1 Unit Number4 1 Unit Number5 1 Unit Number6 1 Unit Number7 1 Unit Number8 1 Unit Number9 1 Unit Rent Total1 1350 Unit Rent Total10 1025 Unit Rent Total2 1250 Unit Rent Total3 1650 Unit Rent Total4 900 Unit Rent Total5 1675 Unit Rent Total6 875 Unit Rent Total7 1350 Unit Rent Total8 1750 Unit Rent Total9 1275 Unit Rent1 1350 Unit Rent10 1025 Unit Rent2 1250 Unit Rent3 1650 Unit Rent4 900 Unit Rent5 1675 Unit Rent6 875 Unit Rent7 1350 Unit Rent8 1750 Unit Rent9 1275 Zoning Various

    Listing provided courtesy of South Coast Commercial, Inc.. Listing information © 2019 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 © 2019 San Diego MLS, Inc. Licensed in the state of California.
     
    Neuman & Neuman Real Estate Inc.
    516 5th Avenue
    San Diego CA, 92101