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    3137-3143 Valle Ave.

    San Diego, CA 92113
    • $1,890,000
    • STATUS: ACTIVE
    • ON SITE: 20 days
    • ID#: 210010520
    Price Reduced
    $1,890,000
    • 15
      BEDS
    • 0.32
      ACRES
    • 9
      BATHS
    • 2
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    The Valle Avenue Apartment Homes is an excellent 5 unit investment opportunity in the San Diego rental market. This is an attractive property located in Logan Heights, which is about 3.5 miles from Downtown. The property consists of 4 detached buildings spread out on a large double lot totaling 14,068 sq. ft. The majority of units have been meticulously renovated throughout and have record setting rents for the neighborhood. The unit mix consists of (1) 4-Bed/3-Bath Detached House, (1) 3-Bed/2.5-Bath Town-Home, (1) 3-Bed/1.5- Bath Town-Home, (1) 3-Bed/2-Bath Detached Unit connected to the garages, and (1) 2-Bed/1-Bath Detached House all totaling approximately 5,683 sq. ft. There are 12 on-site parking spaces and (3) single car garages. Each unit has its own laundry hooks-ups and equipment. Unit upgrades include stainless steel appliances, granite counter tops, new light fixtures, recessed lighting, hardwood floors, plank flooring, dimmer switches, new cabinets, soft close drawers, high quality doors, wood beams, improved hardware, dishwashers, tailor made crown molding, 2 inch blinds, two toned paint, and insulation of interior walls. There is also added shelving, high end closet doors, walk-in closets, USB charging ports, bathroom & shower tiles, and many one off handmade unit accessories. Property upgrades include dual paned vinyl windows and sliding glass doors, custom fencing, security gates, concrete work, custom woodwork, low maintenance landscaping, front yard trellis, private yards, patios, and deck spaces.

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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/116354468
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    3137-3143 Valle Ave. San Diego, CA 92113

    • Price: $1,890,000
    • Status: ACTIVE
    • ID#: 210010520
    15
    Beds
    9
    Baths
    2
    ½ Baths
    0.32
    Acres
    Neighborhood:
    Logan Heights (92113)
    County:
    San Diego
    Area:
    Logan Heights (92113)
    Property Description
    The Valle Avenue Apartment Homes is an excellent 5 unit investment opportunity in the San Diego rental market. This is an attractive property located in Logan Heights, which is about 3.5 miles from Downtown. The property consists of 4 detached buildings spread out on a large double lot totaling 14,068 sq. ft. The majority of units have been meticulously renovated throughout and have record setting rents for the neighborhood. The unit mix consists of (1) 4-Bed/3-Bath Detached House, (1) 3-Bed/2.5-Bath Town-Home, (1) 3-Bed/1.5- Bath Town-Home, (1) 3-Bed/2-Bath Detached Unit connected to the garages, and (1) 2-Bed/1-Bath Detached House all totaling approximately 5,683 sq. ft. There are 12 on-site parking spaces and (3) single car garages. Each unit has its own laundry hooks-ups and equipment. Unit upgrades include stainless steel appliances, granite counter tops, new light fixtures, recessed lighting, hardwood floors, plank flooring, dimmer switches, new cabinets, soft close drawers, high quality doors, wood beams, improved hardware, dishwashers, tailor made crown molding, 2 inch blinds, two toned paint, and insulation of interior walls. There is also added shelving, high end closet doors, walk-in closets, USB charging ports, bathroom & shower tiles, and many one off handmade unit accessories. Property upgrades include dual paned vinyl windows and sliding glass doors, custom fencing, security gates, concrete work, custom woodwork, low maintenance landscaping, front yard trellis, private yards, patios, and deck spaces.
    Exterior Features

    Construction BrickDrywallFrameStucco Exterior Cable AvailablePart LandscapedRv ParkingWood FenceWood Deck Parking GaragesRv ParkingSpaces Parking Spaces Total 12 Roof Composition Units With Garages 3

    Interior Features

    Cooling Wall/Window Floor Coverings HardwoodTileVinyl Floors SlabWood Heating Wall Laundry Owned Sq Ft Of Improvement 5683 Stories 1 Story2 Story Units With Dishwashers 5 Units With Disposals 5 Units With Ranges 5 Units With Refrigerators 5

    Property Features

    Actual Cap Rate 5.28 Actual Gross Operating Income 135024 Actual Gross Scheduled Income 139200.0 Actual Operating Expense 35266 Actual Vacancy And Credit Loss 4176 Assumable Finance 0 Buildings 4 Existing Financing Conventional Financial Information Source Owner Fiscal Year From 20 Fiscal Year To 21 Gross Equity 0 Gross Multiplier 13.58 Have 5 Apartment Homes Leased Apartments 5 Mandatory Remarks None Known Market Area Metro Central Monthly Rent Total 11600 Motive Want Sell Other Income Source Garages Projected Cap Rate 6.73 Projected Gross Multiplier 10.57 Projected Gross Operating Inc 174636 Projected Gross Scheduled Inc 178800 Projected Net Income 127268 Projected Operating Expense 47368 Projected Other Income 1200 Projected Vacancy And Credit Loss 5364 Short Sale No Special Rent Control Sq Ft Source Buyer To VerifyOwner Tenant Pays Electric Y Tenant Pays Gas Y Tenant Pays Water N Terms CashCash To New LoanExchange DownExchange Up Unit Number1 1 Unit Number2 1 Unit Number3 1 Unit Number4 1 Unit Number5 1 Unit Rent Total1 3100 Unit Rent Total2 3300 Unit Rent Total3 1550 Unit Rent Total4 1300 Unit Rent Total5 2350 Unit Rent1 3100 Unit Rent2 3300 Unit Rent3 1550 Unit Rent4 1300 Unit Rent5 2350 Unit Type Apartment Zoning Rm-1-1

    Listing provided courtesy of Acre Investment Real Estate. 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