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4586 Idaho St

San Diego, CA 92116
  • $3,415,000
  • STATUS: PENDING
  • ON SITE: 27 Days
  • ID#: 220018449
Pending
UPDATED: 20 min ago
$3,415,000
  • 13
    BEDS
  • 0.16
    ACRES
  • 13
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

This property is well located in the highly desirable neighborhood of North Park with an excellent walk score of 88. Constructed in 1985 this property hosts a desirable unit mix of (6) 2BR/2BA units and (1) 1BR/1BA unit. With a large average square footage of 813, all 7 units feature W/D in-unit, fireplaces, a parking space (1:1 parking ratio) and their own one car garage. Two of the units have direct access to their garage. Two of the units have recently undergone renovations, leaving the remaining five units to be upgraded as desired by the new owner to achieve leading market rents, further pushing cash flow. In addition to the rent roll, the property yields an additional monthly income of $415 to cover utility costs. The 7 single car garages on site offer additional demand for tenancy as well as potential investment upside for ADU garage conversions. Remaining upside in rents presents an opportunity for the new owner to take advantage of this high demand location and push cash flow through consistent annual rent increases or renovating units and raising rents to leading market rents upon vacancy. OM provided upon request.

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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/130982713
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4586 Idaho St San Diego, CA 92116

  • Price: $3,415,000
  • Status: PENDING
  • On Site: 27 Days
  • Updated: 20 min ago
  • ID#: 220018449
13
Beds
13
Baths
0
½ Baths
0.16
Acres
Neighborhood:
Normal Heights (92116)
County:
San Diego
Area:
Normal Heights (92116)
Property Description
This property is well located in the highly desirable neighborhood of North Park with an excellent walk score of 88. Constructed in 1985 this property hosts a desirable unit mix of (6) 2BR/2BA units and (1) 1BR/1BA unit. With a large average square footage of 813, all 7 units feature W/D in-unit, fireplaces, a parking space (1:1 parking ratio) and their own one car garage. Two of the units have direct access to their garage. Two of the units have recently undergone renovations, leaving the remaining five units to be upgraded as desired by the new owner to achieve leading market rents, further pushing cash flow. In addition to the rent roll, the property yields an additional monthly income of $415 to cover utility costs. The 7 single car garages on site offer additional demand for tenancy as well as potential investment upside for ADU garage conversions. Remaining upside in rents presents an opportunity for the new owner to take advantage of this high demand location and push cash flow through consistent annual rent increases or renovating units and raising rents to leading market rents upon vacancy. OM provided upon request.
Exterior Features

Construction Stucco Parking GaragesSpaces Parking Spaces Total 7 Units With Garages 7

Interior Features

Laundry Owned Sq Ft Of Improvement 5693 Stories 2 Story

Property Features

Actual Cap Rate 2.28 Actual Cash On Cash 1.3% Actual Gross Operating Income $150180 Actual Gross Scheduled Income 145200.0 Actual Operating Expense $68713 Actual Taxes Expense 1.23219% Actual Vacancy And Credit Loss 0 Assumable Finance 0 Buildings 1 Complex Features Other/Remarks Gross Equity 2350000 Gross Multiplier 22.74 Have 7 Units To Sell Leased Apartments 7 Mandatory Remarks None Known Market Area Metro Uptown Monthly Rent Total 12100 Motive Want Cash Out Other Income Actual $4980 Other Income Amount $415 Other Income Source Utilities Projected Cap Rate 2.67 Projected Cash On Cash 1.9% Projected Gross Multiplier 20.73 Projected Gross Operating Inc $160867 Projected Gross Scheduled Inc $159720 Projected Net Income $91137 Projected Operating Expense $69729 Projected Other Income $4980 Projected Vacancy And Credit Loss $3833 Short Sale No Sq Ft Source Tax Record Unit Number1 1 Unit Number2 1 Unit Number3 1 Unit Number4 1 Unit Number5 1 Unit Number6 1 Unit Number7 1 Unit Rent Total1 2600 Unit Rent Total2 1975 Unit Rent Total3 1580 Unit Rent Total4 1595 Unit Rent Total5 1635 Unit Rent Total6 1269 Unit Rent Total7 1445 Unit Rent1 2600 Unit Rent2 1975 Unit Rent3 1580 Unit Rent4 1595 Unit Rent5 1635 Unit Rent6 1269 Unit Rent7 1445

San Diego MLS logo Listing provided courtesy of Apartment Consultants, Inc.. 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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Neuman & Neuman Real Estate Inc.
516 5th Avenue
San Diego CA, 92101