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3917-31 Hamilton Street

San Diego, CA 92104
  • $3,995,000
  • STATUS: ACTIVE
  • ON SITE: 17 Days
  • ID#: 240012707
$3,995,000
  • 3
    BEDS
  • 0.32
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

We are pleased to present The Hamilton Bungalows at 3917-3931 Hamilton Street in prime North Park, San Diego, California. With a successful history as vacation rentals and currently operating as long-term rentals, Hamilton Street is composed of all bungalow units with no shared walls. The property boasts one of the most coveted areas of southern California and a mix of vintage interiors to fully renovated units. This is a boutique style apartment community units features concrete and granite countertops, stainless steel appliances, dual pane windows, refinished dark hardwood flooring and A/C. serious attention to detail and meticulous care from ownership. The property is comprised of a single 2-bedroom /1-bath casita (approximately 850SF), eight 1-bedroom / 1-bath casitas (approximately 500SF), and a single non-conforming studio unit and laundry room that was converted from two single car garages. One of the vacation rentals is still in operation and proves an easy model to increase income almost 20% if desired without any further upgrades to the property.

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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/151352986
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3917-31 Hamilton Street San Diego, CA 92104

  • Price: $3,995,000
  • Status: ACTIVE
  • On Site: 17 Days
  • ID#: 240012707
3
Beds
3
Baths
0
½ Baths
0.32
Acres
Neighborhood:
North Park (92104)
County:
San Diego
Area:
North Park (92104)
Property Description
We are pleased to present The Hamilton Bungalows at 3917-3931 Hamilton Street in prime North Park, San Diego, California. With a successful history as vacation rentals and currently operating as long-term rentals, Hamilton Street is composed of all bungalow units with no shared walls. The property boasts one of the most coveted areas of southern California and a mix of vintage interiors to fully renovated units. This is a boutique style apartment community units features concrete and granite countertops, stainless steel appliances, dual pane windows, refinished dark hardwood flooring and A/C. serious attention to detail and meticulous care from ownership. The property is comprised of a single 2-bedroom /1-bath casita (approximately 850SF), eight 1-bedroom / 1-bath casitas (approximately 500SF), and a single non-conforming studio unit and laundry room that was converted from two single car garages. One of the vacation rentals is still in operation and proves an easy model to increase income almost 20% if desired without any further upgrades to the property.
Exterior Features

Carports 0 Construction Stucco Exterior Fully LandscapedMetal Fence Parking Spaces Total 16 Units With Garages 2

Interior Features

Cooling Wall/Window Floor Coverings Hardwood Floors Wood Heating Wall Laundry Owned Sq Ft Of Improvement 5225 Stories 1 Story Unit Furnished1 No Unit Furnished2 No Unit Furnished3 No Units With Dishwashers 10 Units With Disposals 10 Units With Drapes 10 Units With Ranges 10 Units With Refrigerators 10

Property Features

1st Loan Balance 1700000 Actual Cap Rate 3.97 Actual Cash Flow 29585 Actual Cash On Cash 29585 Actual Gross Operating Income 246259 Actual Gross Scheduled Income 243360.0 Actual Operating Expense 87839 Actual Total Pi Pay 128835 Actual Vacancy And Credit Loss 7301 Assumable Finance 0 Buildings 11 Complex Features BBQ Existing Financing Clear Financial Information Source Owner Fiscal Year From 22 Fiscal Year To 23 Gross Equity 0 Gross Multiplier 16.42 Have 9 + 1* Units Leased Apartments 10 Mandatory Remarks None Known Market Area Metro Uptown Monthly Rent Total 20280 Motive Want exchange Other Income Actual 10200 Other Income Amount 10200 Other Income Source garage/par Projected Annual Pi Expense 128835 Projected Cap Rate 5.0 Projected Cash Flow 70721 Projected Cash On Cash 70721 Projected Gross Multiplier 13.87 Projected Gross Operating Inc 289560 Projected Gross Scheduled Inc 288000 Projected Net Income 199556 Projected Operating Expense 90004 Projected Other Income 10200 Projected Vacancy And Credit Loss 8640 Short Sale No Special None Sq Ft Source Tax Record Tenant Pays Electric y Tenant Pays Gas y Tenant Pays Water n Unit Number1 1 Unit Number2 8 Unit Number3 1 Unit Rent Total1 2650 Unit Rent Total2 16024 Unit Rent Total3 1600 Unit Rent1 2650 Unit Rent2 2003 Unit Rent3 1600

San Diego MLS logo Listing provided courtesy of Conor Brennan of Marcus & Millichap: 720-841-8139. 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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San Diego CA, 92101