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    3424 & 3434 Monroe St

    Carlsbad, CA 92008
    • $2,950,000
    • STATUS: ACTIVE
    • ON SITE: 74 days
    • ID#: 200038374
    UPDATED: 24 min ago
    $2,950,000
    • 2
      BEDS
    • N/A
      ACRES
    • 1
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    3424 & 3434 Monroe St is comprised of two contiguous 4-plexes in the highly desirable neighborhood of Carlsbad. Resting on a 15,726 SF lot, there is 6,524 rentable SF comprised of (8) two bedroom/ one-bathroom units. 3424 & 3434 Monroe Street offers investors the unique opportunity to acquire a value-add asset in a rarely traded neighborhood. The cottage style 4-plexes feature coin operated laundry, 8 covered carport parking spaces, a communal courtyard, and an abundance of storage space. This asset can be renovated to maximize cash flow or continue to be well maintained and operate as is. Carlsbad is one of San Diego County’s most desirable cities to live in. It is home to some of California’s most famous beaches, top rated schools, attractions, and restaurants. This coastal community attracts high quality tenants that will continue to keep vacancy rates low and rent increases steady. Being within walking distance to Carlsbad High School, this property is well positioned with the investor’s longevity in mind.

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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 © 2020 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/108747385
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    3424 & 3434 Monroe St Carlsbad, CA 92008

    • Price: $2,950,000
    • Status: ACTIVE
    • Updated: 24 min ago
    • ID#: 200038374
    2
    Beds
    1
    Baths
    0
    ½ Baths
    N/A
    Acres
    Neighborhood:
    Carlsbad (92008)
    County:
    San Diego
    Area:
    Carlsbad (92008)
    Property Description
    3424 & 3434 Monroe St is comprised of two contiguous 4-plexes in the highly desirable neighborhood of Carlsbad. Resting on a 15,726 SF lot, there is 6,524 rentable SF comprised of (8) two bedroom/ one-bathroom units. 3424 & 3434 Monroe Street offers investors the unique opportunity to acquire a value-add asset in a rarely traded neighborhood. The cottage style 4-plexes feature coin operated laundry, 8 covered carport parking spaces, a communal courtyard, and an abundance of storage space. This asset can be renovated to maximize cash flow or continue to be well maintained and operate as is. Carlsbad is one of San Diego County’s most desirable cities to live in. It is home to some of California’s most famous beaches, top rated schools, attractions, and restaurants. This coastal community attracts high quality tenants that will continue to keep vacancy rates low and rent increases steady. Being within walking distance to Carlsbad High School, this property is well positioned with the investor’s longevity in mind.
    Exterior Features

    Carports 8

    Interior Features

    Sq Ft Of Improvement 6524

    Property Features

    Actual Cap Rate 3.85 Actual Gross Operating Income 173481 Actual Gross Scheduled Income 177300.0 Actual Operating Expense 59977 Assumable Finance 0 Buildings 2 Gross Equity 0 Gross Multiplier 16.64 Have 8 Value Add Units Mandatory Remarks None Known Market Area Coastal North Motive Want 1031 Exchange Other Income Actual 1500 Other Income Source Laundry Projected Cap Rate 4.76 Projected Gross Multiplier 14.29 Projected Gross Operating Inc 201708 Projected Gross Scheduled Inc 206400 Projected Net Income 140320 Projected Operating Expense 61388 Projected Other Income 1500 Projected Vacancy And Credit Loss 6192 Unit Number1 8 Unit Rent1 1725-2100

    Listing provided courtesy of Marcus & Millichap. Listing information © 2020 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 © 2020 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