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711 61st Street

San Diego, CA 92114
  • $2,000,000
  • STATUS: ACTIVE
  • ON SITE: 92 Days
  • ID#: 220012042
UPDATED: 73 min ago
$2,000,000
  • 3
    BEDS
  • 0.36
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

711 61st Street consists of 5,782 square feet of structures on a large 15,799 square foot lot. The unit mix is one 2 bedroom / 1 bath, five 1 bedroom / 1 bath, and five studio units. The subject property has three structures and 13 parking spaces. There are 10 legal units and an 11th unit for which permits are unknown. Two studios had been previously converted to 1 bedroom units. The property has onsite laundry and upside in rents as well as ADU potential. The property is in a predominately residential neighborhood.

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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/128813608
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711 61st Street San Diego, CA 92114

  • Price: $2,000,000
  • Status: ACTIVE
  • On Site: 92 Days
  • Updated: 73 min ago
  • ID#: 220012042
3
Beds
4
Baths
0
½ Baths
0.36
Acres
Neighborhood:
Encanto (92114)
County:
San Diego
Area:
Encanto (92114)
Property Description
711 61st Street consists of 5,782 square feet of structures on a large 15,799 square foot lot. The unit mix is one 2 bedroom / 1 bath, five 1 bedroom / 1 bath, and five studio units. The subject property has three structures and 13 parking spaces. There are 10 legal units and an 11th unit for which permits are unknown. Two studios had been previously converted to 1 bedroom units. The property has onsite laundry and upside in rents as well as ADU potential. The property is in a predominately residential neighborhood.
Exterior Features

Parking Spaces Total 13

Interior Features

Sq Ft Of Improvement 5782 Units With Ranges 11 Units With Refrigerators 11

Property Features

Actual Cap Rate 5.1 Actual Gross Operating Income 155662 Actual Gross Scheduled Income 160476.0 Actual Operating Expense 54251 Actual Vacancy And Credit Loss 4814 Assumable Finance 0 Buildings 3 Gross Equity 1000000 Gross Multiplier 12.5 Have Units Leased Apartments 11 Mandatory Remarks None Known Market Area Metro Central Monthly Rent Total 13273 Motive Want 1031 Other Income Source Laundry Projected Cap Rate 6.8 Projected Gross Multiplier 10.2 Projected Gross Operating Inc 190547 Projected Gross Scheduled Inc 196440 Projected Net Income 135066 Projected Operating Expense 54251 Projected Vacancy And Credit Loss 5893 Short Sale No Unit Number1 1 Unit Number2 5 Unit Number3 4 Unit Number4 1 Unit Rent Total1 1850 Unit Rent Total2 6250 Unit Rent Total3 4448 Unit Rent Total4 725 Unit Rent1 1850 Unit Rent2 1250 Unit Rent3 1112 Unit Rent4 725

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