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5547-5553 Shasta Lane

La Mesa, CA 91941
  • $3,400,000
  • STATUS: ACTIVE
  • ON SITE: 76 Days
  • ID#: 220013560
UPDATED: 15 min ago
$3,400,000
  • 5
    BEDS
  • 0.37
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
La Mesa (91941)
Type:
Multi-Family
County:
San Diego
Area:
La Mesa (91941)

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Description

The Shasta Apartments represent an opportunity for an investor to buy an asset that has a great unit mix, year built and highly desirable location. With current rents at about 71% of market rate, a future owner can also increase cash flow simply by raising rents each year and at each lease turn can reset market rents. Located north of interstate 8, the Shasta apartments are uniquely located near Mission Trails and Lake Murray. The studio units are so large and functional that an owner can also adjust their configuration to represent a 1 bedroom unit with ease.

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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/129383411
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5547-5553 Shasta Lane La Mesa, CA 91941

  • Price: $3,400,000
  • Status: ACTIVE
  • On Site: 76 Days
  • Updated: 15 min ago
  • ID#: 220013560
5
Beds
4
Baths
0
½ Baths
0.37
Acres
Neighborhood:
La Mesa (91941)
County:
San Diego
Area:
La Mesa (91941)
Property Description
The Shasta Apartments represent an opportunity for an investor to buy an asset that has a great unit mix, year built and highly desirable location. With current rents at about 71% of market rate, a future owner can also increase cash flow simply by raising rents each year and at each lease turn can reset market rents. Located north of interstate 8, the Shasta apartments are uniquely located near Mission Trails and Lake Murray. The studio units are so large and functional that an owner can also adjust their configuration to represent a 1 bedroom unit with ease.
Exterior Features

Carports 0 Construction Stucco Exterior Part Landscaped Parking Spaces Parking Spaces Total 22 Roof Tile Units With Garages 0

Interior Features

Cooling Wall/Window Floor Coverings Vinyl Floors Wood Heating Wall Sq Ft Of Improvement 6339 Stories 2 Story Unit Furnished1 No Unit Furnished2 No Unit Furnished3 No Units With Dishwashers 11 Units With Disposals 11 Units With Drapes 11 Units With Ranges 11 Units With Refrigerators 0

Property Features

Actual Gross Operating Income 179081 Actual Gross Scheduled Income 182736.0 Actual Operating Expense 69169 Actual Vacancy And Credit Loss 3655 Assumable Finance 0 Buildings 2 Existing Financing Conventional Financial Information Source Owner Gross Equity 2000000 Gross Multiplier 18.6 Have Units Mandatory Remarks None Known Market Area East County Monthly Rent Total 15228 Motive Want Sell Other Income Actual 0 Other Income Amount 0 Other Income Source 0 Present Loan 0 Projected Cap Rate 5.3 Projected Cash On Cash 4.7 Projected Gross Multiplier 13.3 Projected Gross Scheduled Inc 254940 Projected Net Income 180672 Short Sale No Sq Ft Source Tax Record Tenant Pays Electric L Tenant Pays Gas L Tenant Pays Water L Terms CashCash To New LoanExchange Up Unit Number1 8 Unit Number2 2 Unit Number3 1 Unit Rent Total1 9752 Unit Rent Total2 2876 Unit Rent Total3 2600 Unit Rent1 1219 Unit Rent2 1438 Unit Rent3 2600

San Diego MLS logo Listing provided courtesy of South Coast Commercial, Inc.: 619-226-6011. 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