3590 Arey Drive 30 (S/L Level Town Homes See List)

    San Diego, CA 92154
    • $8,884,500
    • STATUS: ACTIVE
    • ON SITE: 263 days
    • ID#: 190005465
    UPDATED: 62 min ago
    $8,884,500
    • 3
      BEDS
    • 5.5
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    REDUCED $400,000. The last model match $329,000!! Hold with upside on rents, or sell off! Great Investment Opportunity Bulk Sale. 30 Single level (S/L) Town Homes. all are 3 bedroom investor owned and have Ocean Views (some units) and breezes. Washer dryer connections in the units. Units are rented below the market rents (+/-$2,000). Value added deal Potential for upside selling off individual units. Potential 5% cap with upside on value. Income potential is $756,000. See attachment for list of units and floor plans.

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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/91242106

    3590 Arey Drive 30 (S/L Level Town Homes See List) San Diego, CA 92154

    • Price: $8,884,500
    • Status: ACTIVE
    • Updated: 62 min ago
    • ID#: 190005465
    3
    Beds
    0
    Baths
    0
    ½ Baths
    5.5
    Acres
    Neighborhood:
    Otay Mesa (92154)
    County:
    San Diego
    Area:
    Otay Mesa (92154)
    Property Description
    REDUCED $400,000. The last model match $329,000!! Hold with upside on rents, or sell off! Great Investment Opportunity Bulk Sale. 30 Single level (S/L) Town Homes. all are 3 bedroom investor owned and have Ocean Views (some units) and breezes. Washer dryer connections in the units. Units are rented below the market rents (+/-$2,000). Value added deal Potential for upside selling off individual units. Potential 5% cap with upside on value. Income potential is $756,000. See attachment for list of units and floor plans.
    Exterior Features

    Construction StuccoOther/Remarks Exterior Cable AvailableFully LandscapedPart FencedWood FenceRemarks Lot Dimensions Approx 239580 Parking Spaces Parking Spaces Total 60 Roof Composition

    Interior Features

    Cooling Other Floor Coverings TileVinylWall To Wall CarpetOther/Remarks Floors Slab Heating Baseboard Sq Ft Of Improvement 32130 Stories 1 Story Units With Disposals 30 Units With Ranges 30

    Property Features

    Actual Cap Rate 4.02 Actual Cash Flow 373622 Actual Gross Scheduled Income 561658 Actual Operating Expense 188037 Assumable Finance 0 Buildings 5 Complex Features Other/Remarks Existing Financing Other/Remarks Financial Information Source Owner Fiscal Year From 01 Fiscal Year To 12 Gross Equity 6000000 Gross Multiplier 16.25 Have 30 3 Br Level Town Homes Leased Apartments 30 Mandatory Remarks None Known Market Area South Bay Monthly Rent Total 1560 Motive Want Development Opportunity Projected Cap Rate 4.95 Projected Cash Flow 460515 Projected Cash On Cash 5 Projected Gross Operating Inc 756000 Projected Gross Scheduled Inc 756000 Projected Net Income 460515 Projected Operating Expense 295485 Short Sale No Special Other/Remarks Sq Ft Source Tax Record Tenant Pays Electric Y Tenant Pays Gas Y Tenant Pays Water Y Terms CashCash To New Loan Unit Number1 30 Unit Type Other/Remarks

    Listing provided courtesy of Wolf Real Estate Group. 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