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    4366-80 Mississippi Street

    San Diego, CA 92104
    • $6,700,000
    • STATUS: ACTIVE
    • ON SITE: 85 days
    • ID#: 200043813
    $6,700,000
    • 2
      BEDS
    • 0.32
      ACRES
    • 1
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    Rare opportunity to acquire a recently renovated and fully stabilized, 16-unit property. This luxury asset is located in one of San Diego’s most lucrative rental markets, University Heights. Constructed in 1956 and renovated in 2018, this property rests on an approximate 14,000 SF lot with 12,240 rentable SF. This property is comprised of two buildings, each on their own separate parcel with 100% two-bedroom / one-bathroom units. No resident manager is required as each 8-unit building has its own APN. These remodeled units include brand new interiors with stainless steel appliances, quartz countertops, and contemporary bathrooms. Exterior renovations include new roofs, signature wood façade, custom designed courtyard and more.

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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 © 2020 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/109833655
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    4366-80 Mississippi Street San Diego, CA 92104

    • Price: $6,700,000
    • Status: ACTIVE
    • ID#: 200043813
    2
    Beds
    1
    Baths
    0
    ½ Baths
    0.32
    Acres
    Neighborhood:
    North Park (92104)
    County:
    San Diego
    Area:
    North Park (92104)
    Property Description
    Rare opportunity to acquire a recently renovated and fully stabilized, 16-unit property. This luxury asset is located in one of San Diego’s most lucrative rental markets, University Heights. Constructed in 1956 and renovated in 2018, this property rests on an approximate 14,000 SF lot with 12,240 rentable SF. This property is comprised of two buildings, each on their own separate parcel with 100% two-bedroom / one-bathroom units. No resident manager is required as each 8-unit building has its own APN. These remodeled units include brand new interiors with stainless steel appliances, quartz countertops, and contemporary bathrooms. Exterior renovations include new roofs, signature wood façade, custom designed courtyard and more.
    Exterior Features

    Exterior Wood Fence Parking Spaces Parking Spaces Total 16

    Interior Features

    Floor Coverings Hardwood Floors Wood Heating Wall Laundry Owned Sq Ft Of Improvement 12240

    Property Features

    Actual Cap Rate 4.27 Actual Gross Scheduled Income 414360.0 Actual Operating Expense 138024 Assumable Finance 0 Buildings 2 Complex Features Bbq Gross Equity 6700000 Gross Multiplier 16.17 Have 16 Units Leased Apartments 16 Mandatory Remarks None Known Market Area Metro Uptown Monthly Rent Total 34530 Motive Want Sell Projected Cap Rate 4.5 Projected Gross Multiplier 15.55 Unit Number1 16 Unit Rent Total1 34530 Unit Rent1 2158 Zoning Rm-3-9

    Listing provided courtesy of Marcus & Millichap. Listing information © 2020 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 © 2020 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