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3643-49 Logan Ave

San Diego, CA 92113
  • $1,795,000
  • STATUS: ACTIVE
  • ON SITE: 27 Days
  • ID#: 240008218
UPDATED: 77 min ago
$1,795,000
  • 8
    BEDS
  • 0.16
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Presenting 3643-49 Logan Avenue, a multifamily investment gem comprising five units, three of which are newly constructed, situated on a 6,956 square foot lot. With a favorable 6.1% cap rate and a low down payment financing option, this property offers an accessible entry point and promising returns for investors. The newly built structure is designed for modern living, featuring separately metered utilities, solar panels, and a detached laundry facility to minimize operational costs and maximize profitability. Notably, the new construction units are exempt from AB 1482 Rent Control Restrictions for the next 15 years. Each unit is thoughtfully equipped with practical amenities such as stainless steel appliances, mini-split A/C units, and individual water heaters, all within a secure gated complex. Additionally, two original units present opportunities for further value optimization, providing a diverse mix of rental income streams.

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San Diego MLS logo 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 © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/149699088
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3643-49 Logan Ave San Diego, CA 92113

  • Price: $1,795,000
  • Status: ACTIVE
  • On Site: 27 Days
  • Updated: 77 min ago
  • ID#: 240008218
8
Beds
4
Baths
0
½ Baths
0.16
Acres
Neighborhood:
Logan Heights (92113)
County:
San Diego
Area:
Logan Heights (92113)
Property Description
Presenting 3643-49 Logan Avenue, a multifamily investment gem comprising five units, three of which are newly constructed, situated on a 6,956 square foot lot. With a favorable 6.1% cap rate and a low down payment financing option, this property offers an accessible entry point and promising returns for investors. The newly built structure is designed for modern living, featuring separately metered utilities, solar panels, and a detached laundry facility to minimize operational costs and maximize profitability. Notably, the new construction units are exempt from AB 1482 Rent Control Restrictions for the next 15 years. Each unit is thoughtfully equipped with practical amenities such as stainless steel appliances, mini-split A/C units, and individual water heaters, all within a secure gated complex. Additionally, two original units present opportunities for further value optimization, providing a diverse mix of rental income streams.
Exterior Features

Carports 1 Construction Stucco Exterior Block Fence Parking CarportsSpaces Roof Composition

Interior Features

Cooling Wall/Window Floor Coverings Vinyl Floors Slab Laundry Leased Sq Ft Of Improvement 3560 Stories 2 Story

Property Features

Actual Cap Rate 6.1 Actual Gross Scheduled Income 150600.0 Actual Operating Expense 38663 Assumable Finance 0 Buildings 2 Complex Features None Existing Financing Other/Remarks Financial Information Source Owner Gross Equity 1795000 Gross Multiplier 11.9 Have Low Maintenanc Cash Flow Mandatory Remarks None Known Market Area Metro Central Motive Want Cash Out Other Income Source Laundry Projected Cap Rate 6.9 Projected Gross Multiplier 10.9 Projected Gross Scheduled Inc 165120 Projected Net Income 123155 Special None Sq Ft Source Owner Tenant Pays Electric Y Tenant Pays Water Y Unit Number1 2 Unit Number2 1 Unit Number3 1 Unit Number4 1 Unit Rent Total1 6200 Unit Rent Total2 2600 Unit Rent Total3 1700 Unit Rent Total4 1600 Unit Rent1 3100 Unit Rent2 2600 Unit Rent3 1700 Unit Rent4 1600 Unit Type Other/Remarks Zoning R-3:RESTRI

San Diego MLS logo Listing provided courtesy of Nicholas Azoff of Starker West, Inc.: 858-867-3714. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo 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 © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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The Neuman Team
516 5th Avenue
San Diego CA, 92101