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    3603 King Street

    La Mesa, CA 91941
    • $3,595,000
    • STATUS: ACTIVE
    • ON SITE: 62 days
    • ID#: 210020331
    UPDATED: 26 min ago
    $3,595,000
    • 5
      BEDS
    • 0.5
      ACRES
    • 3
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    3603 King Street in La Mesa consists of 12 spacious units totaling 11,232 square feet built in 1977 and situated on a 21,780 square foot lot. The strong unit mix consists of six 3 bedroom / 2 bath units and six 2 bedroom / 1 bath units. The Gross Scheduled Income for 2021 is $267,600 with additional upside in rents. The units have A/C and ceiling fans, share a common laundry room and there are 18 parking spaces. The units have been remodeled with newer plank flooring and newer kitchen cabinets. There are dishwashers in select units and electric wall heaters in all units. The apartments are located on a quiet street close to College Avenue, Broadway and the 94 Freeway. They are located close to transit, shopping, and Rolando Park. DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS.

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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/119478629
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    3603 King Street La Mesa, CA 91941

    • Price: $3,595,000
    • Status: ACTIVE
    • Updated: 26 min ago
    • ID#: 210020331
    5
    Beds
    3
    Baths
    0
    ½ Baths
    0.5
    Acres
    Neighborhood:
    La Mesa (91941)
    County:
    San Diego
    Area:
    La Mesa (91941)
    Property Description
    3603 King Street in La Mesa consists of 12 spacious units totaling 11,232 square feet built in 1977 and situated on a 21,780 square foot lot. The strong unit mix consists of six 3 bedroom / 2 bath units and six 2 bedroom / 1 bath units. The Gross Scheduled Income for 2021 is $267,600 with additional upside in rents. The units have A/C and ceiling fans, share a common laundry room and there are 18 parking spaces. The units have been remodeled with newer plank flooring and newer kitchen cabinets. There are dishwashers in select units and electric wall heaters in all units. The apartments are located on a quiet street close to College Avenue, Broadway and the 94 Freeway. They are located close to transit, shopping, and Rolando Park. DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS.
    Exterior Features

    Parking Spaces Total 18

    Interior Features

    Sq Ft Of Improvement 11232 Units With Dishwashers 3 Units With Ranges 12 Units With Refrigerators 12

    Property Features

    Actual Cap Rate 4.7 Actual Gross Operating Income 259572 Actual Gross Scheduled Income 267600.0 Actual Operating Expense 90713 Actual Vacancy And Credit Loss 8028 Assumable Finance 0 Buildings 2 Gross Equity 2300000 Gross Multiplier 13.4 Have Units Leased Apartments 12 Mandatory Remarks None Known Market Area East County Monthly Rent Total 22300 Motive Want Sell Other Income Source Laundry Projected Cap Rate 5.9 Projected Gross Multiplier 11.6 Projected Gross Operating Inc 301476 Projected Gross Scheduled Inc 310800 Projected Net Income 210764 Projected Operating Expense 90713 Projected Vacancy And Credit Loss 9324 Short Sale No Unit Number1 6 Unit Number2 6 Unit Rent Total1 12048 Unit Rent Total2 9852 Unit Rent1 2008 Unit Rent2 1642

    Listing provided courtesy of South Coast Commercial, Inc.. 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