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673-75 65th Street

San Diego, CA 92114
  • $2,390,000
  • STATUS: ACTIVE
  • ON SITE: 66 Days
  • ID#: 220024627
UPDATED: 58 min ago
$2,390,000
  • 3
    BEDS
  • 0.27
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

673-75 65th Street consists of 5,688 square feet of structures built in 1961 on a large 11,770 square foot lot. The unit mix is two 2 bedroom / 1 bath units in the rear structure and eight 1 bedroom / 1 bath units in the front structure. The subject property has two structures and 10 parking spaces. Most units have been renovated and received rent increases. The property has onsite laundry and upside in rents as well as ADU potential. The property is in a predominately residential neighborhood. This area is close to major freeways and downtown San Diego and provides tenants an affordable place to live with easy access to all of San Diego via the San Diego Trolley, public transportation, and freeway access. The property is two blocks from Encanto Elementary School, the Encanto Park and Recreation Center and Verna Quinn Athletic Fields, an easy walk for the tenants.

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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/133472904
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673-75 65th Street San Diego, CA 92114

  • Price: $2,390,000
  • Status: ACTIVE
  • On Site: 66 Days
  • Updated: 58 min ago
  • ID#: 220024627
3
Beds
2
Baths
0
½ Baths
0.27
Acres
Neighborhood:
Encanto (92114)
County:
San Diego
Area:
Encanto (92114)
Property Description
673-75 65th Street consists of 5,688 square feet of structures built in 1961 on a large 11,770 square foot lot. The unit mix is two 2 bedroom / 1 bath units in the rear structure and eight 1 bedroom / 1 bath units in the front structure. The subject property has two structures and 10 parking spaces. Most units have been renovated and received rent increases. The property has onsite laundry and upside in rents as well as ADU potential. The property is in a predominately residential neighborhood. This area is close to major freeways and downtown San Diego and provides tenants an affordable place to live with easy access to all of San Diego via the San Diego Trolley, public transportation, and freeway access. The property is two blocks from Encanto Elementary School, the Encanto Park and Recreation Center and Verna Quinn Athletic Fields, an easy walk for the tenants.
Exterior Features

Parking Spaces Total 10

Interior Features

Sq Ft Of Improvement 5688 Units With Ranges 10 Units With Refrigerators 10

Property Features

Actual Cap Rate 4.1 Actual Gross Operating Income 154591 Actual Gross Scheduled Income 159372.0 Actual Operating Expense 56459 Actual Vacancy And Credit Loss 4781 Assumable Finance 0 Buildings 2 Gross Equity 1690000 Gross Multiplier 15 Have Units Leased Apartments 10 Mandatory Remarks None Known Market Area Metro Central Monthly Rent Total 13281 Motive Want 1031 Other Income Source Laundry Present Loan 700000 Projected Cap Rate 6.1 Projected Cash On Cash 11.4 Projected Gross Operating Inc 202711 Projected Gross Scheduled Inc 208980 Projected Net Income 146252 Projected Operating Expense 56459 Projected Vacancy And Credit Loss 6269 Short Sale No Tenant Pays Electric Y Tenant Pays Gas Y Tenant Pays Water N Unit Number1 2 Unit Number2 8 Unit Rent Total1 3410 Unit Rent Total2 9656 Unit Rent1 1705 Unit Rent2 1207

San Diego MLS logo Listing provided courtesy of Northmarq Multifamily: [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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The Neuman Team Real Estate Inc.
516 5th Avenue
San Diego CA, 92101