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    5021 - 5029 Logan Avenue

    San Diego, CA 92113
    • $5,100,000
    • STATUS: ACTIVE
    • ON SITE: 206 days
    • ID#: 200015416
    $5,100,000
    • 7
      BEDS
    • 0.61
      ACRES
    • 5
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    We are pleased to present the Solmelia Condominiums, a 1997 Built - gated community of (14) Three Bed / Two Bath condos and (7) Two Bed / Two bath condos and (18) Garages on a 26,531 SF lot with additional off-street parking. Current ownership is 95% of the HOA (21 out of 22 total units). All units are in great condition and tenants share pride of ownership. All units were built condo spec with forced AC/Heat, granite countertops, updated kitchens/baths from gut conversion in 2006. Pitched roofs, garages, new dual pane vinyl windows included. Located in an Opportunity Zone.

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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/104727592
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    5021 - 5029 Logan Avenue San Diego, CA 92113

    • Price: $5,100,000
    • Status: ACTIVE
    • ID#: 200015416
    7
    Beds
    5
    Baths
    0
    ½ Baths
    0.61
    Acres
    Neighborhood:
    Logan Heights (92113)
    County:
    San Diego
    Area:
    Logan Heights (92113)
    Property Description
    We are pleased to present the Solmelia Condominiums, a 1997 Built - gated community of (14) Three Bed / Two Bath condos and (7) Two Bed / Two bath condos and (18) Garages on a 26,531 SF lot with additional off-street parking. Current ownership is 95% of the HOA (21 out of 22 total units). All units are in great condition and tenants share pride of ownership. All units were built condo spec with forced AC/Heat, granite countertops, updated kitchens/baths from gut conversion in 2006. Pitched roofs, garages, new dual pane vinyl windows included. Located in an Opportunity Zone.
    Exterior Features

    Carports 0 Parking Spaces Total 14 Units With Garages 18

    Interior Features

    Sq Ft Of Improvement 17794 Unit Furnished1 0 Unit Furnished2 0 Unit Furnished3 0 Units With Dishwashers 21 Units With Disposals 21 Units With Ranges 21 Units With Refrigerators 21

    Property Features

    Actual Cap Rate 5.25 Actual Cash On Cash 4.3 Actual Gross Scheduled Income 433584.0 Actual Operating Expense 169640 Assumable Finance 0 Buildings 5 Gross Equity 3400000 Gross Multiplier 11.8 Have 21 Condo Spec 3'S And 2'S Mandatory Remarks None Known Market Area Metro Central Monthly Rent Total 36132 Motive Want Cash Out / Exchange Projected Cap Rate 5.6 Projected Cash On Cash 5.3 Projected Gross Multiplier 10.9 Projected Gross Scheduled Inc 460800 Short Sale No Tenant Pays Electric Y Tenant Pays Water N Unit Number1 7 Unit Number2 14 Unit Number3 1 Unit Rent Total1 10500 Unit Rent Total2 25312 Unit Rent Total3 1400 Unit Rent1 1500 Unit Rent2 1808 Unit Rent3 1400 Zoning Rm

    Listing provided courtesy of South Coast Commercial, Inc.. 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