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4109 Park Pl

San Diego, CA 92116
  • $3,850,000
  • STATUS: ACTIVE
  • ON SITE: 21 Days
  • ID#: 220027944
UPDATED: 66 min ago
$3,850,000
  • 10
    BEDS
  • 0.14
    ACRES
  • 7
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

We are pleased to present this opportunity to acquire a 7-unit apartment complex located in the Kensington neighborhood of San Diego. The property was newly remodeled and features an ideal unit mix of one (1) two- bedroom/two-bath, two (2) two-bedroom/ one-bath, four (4) one-bedroom/one-bath units totaling approximately 4,735 square feet. New ownership has the opportunity to acquire an asset boasting incredible rents with room to increase post acquisition. An investor has the opportunity to add an ADU in the garage to increase gross rents over 15%. The Park Place apartments are adjacent to Kensington Park and one block from Adams Avenue. From fine dining, coffee shops, to amazing schools, Kensington has something for everyone. With most properties in this area being single family homes, this asset offers the investor a unique opportunity to corner the market. This is an absolute must see asset with many improvements made to the interior and exterior of the property. The Park Place apartments have a central location that is near Kensington Village, Starbucks, Ponce’s, and many other restaurants.

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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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/134724502
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4109 Park Pl San Diego, CA 92116

  • Price: $3,850,000
  • Status: ACTIVE
  • On Site: 21 Days
  • Updated: 66 min ago
  • ID#: 220027944
10
Beds
7
Baths
0
½ Baths
0.14
Acres
Neighborhood:
Normal Heights (92116)
County:
San Diego
Area:
Normal Heights (92116)
Property Description
We are pleased to present this opportunity to acquire a 7-unit apartment complex located in the Kensington neighborhood of San Diego. The property was newly remodeled and features an ideal unit mix of one (1) two- bedroom/two-bath, two (2) two-bedroom/ one-bath, four (4) one-bedroom/one-bath units totaling approximately 4,735 square feet. New ownership has the opportunity to acquire an asset boasting incredible rents with room to increase post acquisition. An investor has the opportunity to add an ADU in the garage to increase gross rents over 15%. The Park Place apartments are adjacent to Kensington Park and one block from Adams Avenue. From fine dining, coffee shops, to amazing schools, Kensington has something for everyone. With most properties in this area being single family homes, this asset offers the investor a unique opportunity to corner the market. This is an absolute must see asset with many improvements made to the interior and exterior of the property. The Park Place apartments have a central location that is near Kensington Village, Starbucks, Ponce’s, and many other restaurants.
Exterior Features

Exterior Fully Landscaped Parking Spaces Total 6 Units With Garages 2

Interior Features

Laundry Owned Sq Ft Of Improvement 4735 Stories 2 Story Unit Furnished1 No Unit Furnished2 No Unit Furnished3 No Unit Furnished4 No Unit Furnished5 No Unit Furnished6 No Unit Furnished7 No Units With Dishwashers 7 Units With Disposals 7 Units With Ranges 7 Units With Refrigerators 7

Property Features

Actual Cap Rate 3.98 Actual Gross Scheduled Income 226500.0 Actual Operating Expense 73470 Assumable Finance 0 Buildings 1 Complex Features Bbq Gross Equity 0 Gross Multiplier 17 Have Na Leased Apartments 7 Mandatory Remarks None Known Market Area Metro Uptown Monthly Rent Total 18875 Motive Want Na Other Income Actual 6840 Other Income Amount 11220 Other Income Source Laundry Projected Cap Rate 5.02 Projected Gross Scheduled Inc 265800 Projected Net Income 193110.69 Projected Operating Expense 75935 Projected Other Income 11220 Short Sale No Tenant Pays Electric Y Tenant Pays Gas Y Unit Number1 1 Unit Number2 1 Unit Number3 1 Unit Number4 1 Unit Number5 1 Unit Number6 1 Unit Number7 2 Unit Rent Total1 3150 Unit Rent Total2 2395 Unit Rent Total3 2350 Unit Rent Total4 2995 Unit Rent Total5 2495 Unit Rent Total6 2495 Unit Rent Total7 3195 Unit Rent1 2995 Unit Rent2 2395 Unit Rent3 2350 Unit Rent4 2995 Unit Rent5 2495 Unit Rent6 2450 Unit Rent7 3195 Zoning R-4:Multip

San Diego MLS logo Listing provided courtesy of Homecoin.Com: [IDXCONTACTINFORMATION]. Listing information © 2022 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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
 
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The Neuman Team Real Estate Inc.
516 5th Avenue
San Diego CA, 92101