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    5061-5071 72nd Street

    San Diego, CA 92115
    • $2,299,999
    • STATUS: ACTIVE
    • ON SITE: 40 days
    • ID#: 200038078
    UPDATED: 11 min ago
    $2,299,999
    • 8
      BEDS
    • 0.66
      ACRES
    • 6
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    Shovel ready- Located 1 mile to SDSU. 1 Block to bus line or walk to trolley Best in class! Project fully entitled. 15 units 3/2 and one unit 2/2. Two units designated as low income. Completion date is 2021. Project to serve demand for surrounding area. Each Unit to have sub meter for individual water/sewer billing. Currently Zoned for 17 units. City Council to vote on Communities Housing Solutions this fall and is expected to allow this project to have an FAR of 8.0 with as many units on the site as can fit (within constraints of the codes). Property delivered approved plans & Permitting fees. DIFF Excluded Seller paid ROW ($3,088) ,Water/Sewer ($92,583), SD Unified, ($65,336) Planning ($14,987), RTCIP ($25,960), DEMO ($1418) Water Meter,Sewer, Fire, SDGE to property. 199k Diff is deferred until December 2022 Seller to provide design details, permits, building costs, and all reports upon accepted offer. Rents & Expenses are Projected. Renderings in photo Gallery.

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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/108699641
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    5061-5071 72nd Street San Diego, CA 92115

    • Price: $2,299,999
    • Status: ACTIVE
    • Updated: 11 min ago
    • ID#: 200038078
    8
    Beds
    6
    Baths
    0
    ½ Baths
    0.66
    Acres
    Neighborhood:
    San Diego (92115)
    County:
    San Diego
    Area:
    San Diego (92115)
    Property Description
    Shovel ready- Located 1 mile to SDSU. 1 Block to bus line or walk to trolley Best in class! Project fully entitled. 15 units 3/2 and one unit 2/2. Two units designated as low income. Completion date is 2021. Project to serve demand for surrounding area. Each Unit to have sub meter for individual water/sewer billing. Currently Zoned for 17 units. City Council to vote on Communities Housing Solutions this fall and is expected to allow this project to have an FAR of 8.0 with as many units on the site as can fit (within constraints of the codes). Property delivered approved plans & Permitting fees. DIFF Excluded Seller paid ROW ($3,088) ,Water/Sewer ($92,583), SD Unified, ($65,336) Planning ($14,987), RTCIP ($25,960), DEMO ($1418) Water Meter,Sewer, Fire, SDGE to property. 199k Diff is deferred until December 2022 Seller to provide design details, permits, building costs, and all reports upon accepted offer. Rents & Expenses are Projected. Renderings in photo Gallery.
    Exterior Features

    Carports 0 Construction DrywallFrameLath/PlasterOther/RemarksStucco Exterior All Auto SprinklersCable AvailableFully LandscapedWood Fence Lot Dimensions Approx 180' X 160' Parking Spaces Parking Spaces Total 15 Roof Composition Units With Garages 0

    Interior Features

    Cooling Central Forced Air GasHeat Pump Floor Coverings HardwoodTileWall To Wall Carpet Floors Other/RemarksWood Heating Central Forced Air ElecHeat Pump Laundry Owned Sq Ft Of Improvement 17650 Stories 2 Story Unit Furnished1 0 Unit Furnished2 0 Unit Furnished3 0 Units With Dishwashers 0 Units With Disposals 16 Units With Drapes 0 Units With Ranges 16 Units With Refrigerators 16

    Property Features

    Actual Gross Scheduled Income 40800.0 Actual Operating Expense 12240 Assumable Finance 0 Buildings 2 Complex Features Other/Remarks Existing Financing Clear Financial Information Source Limited InfoOwner Flood Zone Known Hazard Gross Equity 2299 Gross Multiplier 40 Have Units Leased Apartments 0 Mandatory Remarks None Known Market Area Metro Uptown Monthly Rent Total 3400 Motive Want Sell Projected Annual Pi Expense 260088 Projected Cap Rate 4.5 Projected Cash Flow 66355 Projected Cash On Cash 2.6 Projected Fl Ins Expense1 4500.00 Projected Gardener Expense 2000.00 Projected Gas And Electric 1500 Projected Gross Multiplier 15 Projected Gross Operating Inc 456893 Projected Gross Scheduled Inc 487224 Projected License Expense 300.00 Projected Maintenance Expense 11250.00 Projected Manager Expense 14400.00 Projected Net Income 326443 Projected Operating Expense 132650 Projected Other Expense 11000 Projected Other Income 6000 Projected Pest Expense 1000 Projected Property Mgmt Expense 9600.00 Projected Supplies Expense .00 Projected Taxes Expense 73000.00 Projected Total Expense 132650 Projected Trash Expense 4800.00 Projected Vacancy And Credit Loss 14617 Projected Water And Sewer Expense 2600 Short Sale No Sq Ft Source Plans Tenant Pays Electric Y Tenant Pays Gas Y Tenant Pays Water Y Terms Cash Unit Number1 13 Unit Number2 2 Unit Number3 1 Unit Rent Total1 33800 Unit Rent Total2 3002 Unit Rent Total3 2000 Unit Rent1 2700 Unit Rent2 1501 Unit Rent3 2000 Unit Type Apartment Zoning Rm 1-1

    Listing provided courtesy of Countywide Homeloan Ofsocalinc. 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