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5115-5117 Naranja Street

San Diego, CA 92114
  • $1,750,000
  • STATUS: PENDING
  • ON SITE: 31 Days
  • ID#: 210027259
Pending
UPDATED: 75 min ago
$1,750,000
  • 6
    BEDS
  • 0.45
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

The Naranja Street Homes is an 8 unit apartment community located in the Valencia Park submarket of San Diego. Situated over two buildings on two separate parcels totaling 19,773 square feet the property consists of two 3 Bed/2 Bath units, four 2 Bed/1 Bath units, and two 1 Bed/1 Bath units. The subject property has eighteen on site parking spots and an on site laundry facilities with owned machines. The property has been well kept over the years but an opportunity exists to remodel the units and substantially increase rents. The property is located approximately 5 miles from Downtown San Diego and is a few blocks away from the 805 and 94 freeways providing residents easy access to employments centers, shopping, dining, and entertainment. Additionally, the subject property is across the street from the newer Market Creek Plaza giving residents easy access to grocery, dining, and shopping options. The Naranja Street Homes is a fantastic opportunity for an investor looking for a value add opportunity with solid rent growth moving forward.

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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 © 2021 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/121815487
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5115-5117 Naranja Street San Diego, CA 92114

  • Price: $1,750,000
  • Status: PENDING
  • Updated: 75 min ago
  • ID#: 210027259
6
Beds
4
Baths
0
½ Baths
0.45
Acres
Neighborhood:
Encanto (92114)
County:
San Diego
Area:
Encanto (92114)
Property Description
The Naranja Street Homes is an 8 unit apartment community located in the Valencia Park submarket of San Diego. Situated over two buildings on two separate parcels totaling 19,773 square feet the property consists of two 3 Bed/2 Bath units, four 2 Bed/1 Bath units, and two 1 Bed/1 Bath units. The subject property has eighteen on site parking spots and an on site laundry facilities with owned machines. The property has been well kept over the years but an opportunity exists to remodel the units and substantially increase rents. The property is located approximately 5 miles from Downtown San Diego and is a few blocks away from the 805 and 94 freeways providing residents easy access to employments centers, shopping, dining, and entertainment. Additionally, the subject property is across the street from the newer Market Creek Plaza giving residents easy access to grocery, dining, and shopping options. The Naranja Street Homes is a fantastic opportunity for an investor looking for a value add opportunity with solid rent growth moving forward.
Exterior Features

Parking Spaces Total 18

Interior Features

Sq Ft Of Improvement 5752

Property Features

Actual Cap Rate 4.69 Actual Cash Flow 20857 Actual Cash On Cash 3.41 Actual Gardener Expense 1440 Actual Gas And Electric 1400 Actual Gross Operating Income 137366 Actual Gross Scheduled Income 139140.0 Actual Maintenance Expense 8000 Actual Operating Expense 55215 Actual Other Expense 1000 Actual Pest Control Expense 700 Actual Prop Management 6868 Actual Taxes Expense 21606 Actual Total Expense 55215 Actual Total Pi Pay 61295 Actual Trash Expense 4800 Actual Vacancy And Credit Loss 4174 Actual Water Sewer Expense 7000 Assumable Finance 0 Buildings 2 Complex Features Other/Remarks Gross Equity 1750000 Gross Multiplier 12.58 Have Real Estate Mandatory Remarks None Known Market Area Metro Central Motive Want Sell Other Income Actual 2400 Present Loan 0 Projected Annual Pi Expense 61295 Projected Cap Rate 6.21 Projected Cash Flow 47451 Projected Cash On Cash 7.75 Projected Fl Ins Expense 2400 Projected Fl Ins Expense1 2400 Projected Gardener Expense 1440 Projected Gas And Electric 1400 Projected Gross Multiplier 10.42 Projected Gross Operating Inc 165360 Projected Gross Scheduled Inc 168000 Projected Maintenance Expense 8000 Projected Net Income 108746 Projected Operating Expense 56614 Projected Other Expense 1000 Projected Other Income 2400 Projected Pest Expense 700 Projected Property Mgmt Expense 8268 Projected Taxes Expense 21606 Projected Total Expense 56614 Projected Trash Expense 4800 Projected Vacancy And Credit Loss 5040 Projected Water And Sewer Expense 7000 Short Sale No Unit Number1 2 Unit Number2 4 Unit Number3 2 Unit Rent Total1 3255 Unit Rent Total2 5975 Unit Rent Total3 2365 Unit Rent1 1628 Unit Rent2 1494 Unit Rent3 1183

Listing provided courtesy of Acre Investment Real Estate. Listing information © 2021 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 © 2021 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