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5073-79 Lotus Street

San Diego, CA 92107
  • $2,395,000
  • STATUS: ACTIVE
  • ON SITE: 56 Days
  • ID#: 220024897
UPDATED: 20 min ago
$2,395,000
  • 5
    BEDS
  • N/A
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 2,150
    SQFT
  • $1,114
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1951
County:

School Ratings & Info

Description

*Significant Price Reduction* We are pleased to present the Lotus Street Apartments, a fully renovated four unit offering located two blocks from the sand in the coastal neighborhood of Ocean Beach San Diego. This property is comprised of a 2 bed/ 1 bath unit, three 1 bed/ 1 bath units and four garages situated on a 5,009 square foot lot. Renovated in 2022, upgrades include high end cabinetry, new central A/C and heating in each unit, new flooring, appliances, electrical, tankless water heaters, new roofs, plumbing and more. In addition, current rents are strong generating $12K+ month. This offering is ideal for the investor seeking a low maintenance, fully renovated asset in an irreplaceable Southern California location two blocks from the Ocean.

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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/133568530
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5073-79 Lotus Street San Diego, CA 92107

  • Price: $2,395,000
  • Status: ACTIVE
  • On Site: 56 Days
  • Updated: 20 min ago
  • ID#: 220024897
5
Beds
4
Baths
0
½ Baths
N/A
Acres
2,150
SQFT
$1,114
$/SQFT
1951
Built
Neighborhood:
Ocean Beach
County:
San Diego
Area:
Ocean Beach (92107)
Property Description
*Significant Price Reduction* We are pleased to present the Lotus Street Apartments, a fully renovated four unit offering located two blocks from the sand in the coastal neighborhood of Ocean Beach San Diego. This property is comprised of a 2 bed/ 1 bath unit, three 1 bed/ 1 bath units and four garages situated on a 5,009 square foot lot. Renovated in 2022, upgrades include high end cabinetry, new central A/C and heating in each unit, new flooring, appliances, electrical, tankless water heaters, new roofs, plumbing and more. In addition, current rents are strong generating $12K+ month. This offering is ideal for the investor seeking a low maintenance, fully renovated asset in an irreplaceable Southern California location two blocks from the Ocean.
Exterior Features

Exterior Stucco Fencing Other/Remarks Roof Other/Remarks Unit1 Exclusive Use Yard Yes Unit2 Exclusive Use Yard Yes Unit3 Exclusive Use Yard No Unit4 Exclusive Use Yard No Units With Garages 4 Units With Patios 4

Interior Features

Cooling Central Forced Air Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Half Baths Unit4 0 Stories 2 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1 Unit1 Laundry Hook Ups Yes Unit2 Laundry Hook Ups Yes Unit3 Laundry Hook Ups Yes Unit4 Laundry Hook Ups Yes Units With Cooling 4 Units With Dishwashers 4 Units With Dryers 4 Units With Fireplaces 0 Units With Range Oven 4 Units With Refrigerators 4 Units With Washers 4

Property Features

Actual Cap Rate 4.35 Additional Property Use Ormks Age Restrictions N/K Annual Expense Actual 37774 Association ID San Diego Association Of Realtors (Sdar) Buildings 2 Cfd Mello Roos Fee 0.0 Community San Diego Complex Park Na Cross Streets Abbott Gross Rent Multiplier Actual 16.36 Gross Scheduled Income Actual 146400 Mandatory Remarks None Known Market Area Coastal South Monthly Total Fees 0 Other Fees 0.0 Other Income Actual 0 Sales Restrictions N/K Security Other/Remarks Short Sale No Tenant Pays ElectricityGas/Propane Terms Other/Remarks Unit Number For Unit1 5073 Unit Number For Unit2 5075 Unit Number For Unit3 5077 Unit Number4 5079 Unit1 Deposit 0 Unit1 Occupied Tenant Unit1 Projected Rent 2900.0 Unit1 Rent Actual 2900.0 Unit2 Deposit 0 Unit2 Occupied Tenant Unit2 Projected Rent 3500.0 Unit2 Rent Actual 3500.0 Unit3 Deposit 0 Unit3 Occupied Tenant Unit3 Projected Rent 2900 Unit3 Rent Actual 2900.0 Unit4 Deposit 0 Unit4 Occupied Tenant Unit4 Projected Rent 2900 Unit4 Rent Actual 2900.0 Zoning R-4

San Diego MLS logo Listing provided courtesy of Acre Investment Real Estate: [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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Neuman & Neuman Real Estate Inc.
516 5th Avenue
San Diego CA, 92101