814 4th Street

    Coronado, CA 92118
    • $3,650,000
    • STATUS: ACTIVE
    • ON SITE: 23 days
    • ID#: 200012760
    UPDATED: 53 min ago
    $3,650,000
    • 3
      BEDS
    • N/A
      ACRES
    • 3
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    Take a look at this extremely rare investment opportunity located in the highly sought after and rarely traded city of Coronado, CA. Available are Ten Garden Style Apartment Units that have been well maintained by long term ownership. Two of the 10 units have been recently renovated. This is an excellent opportunity for a savvy investor to Renovate the remaining units while bringing the rents up to market and achieving close to a 5% Cap Rate. Nearby Renovated Units are achieving rents 40% Higher than The Subject Property. The Property has 2 Structures on a .16 ACRE Lot. The Pitched Roofs were replaced in the mid 2000’s and the Seller believes that they were 35 Year Shingles.

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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 © 2020 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/104157998

    814 4th Street Coronado, CA 92118

    • Price: $3,650,000
    • Status: ACTIVE
    • Updated: 53 min ago
    • ID#: 200012760
    3
    Beds
    3
    Baths
    0
    ½ Baths
    N/A
    Acres
    Neighborhood:
    Coronado (92118)
    County:
    San Diego
    Area:
    Coronado (92118)
    Property Description
    Take a look at this extremely rare investment opportunity located in the highly sought after and rarely traded city of Coronado, CA. Available are Ten Garden Style Apartment Units that have been well maintained by long term ownership. Two of the 10 units have been recently renovated. This is an excellent opportunity for a savvy investor to Renovate the remaining units while bringing the rents up to market and achieving close to a 5% Cap Rate. Nearby Renovated Units are achieving rents 40% Higher than The Subject Property. The Property has 2 Structures on a .16 ACRE Lot. The Pitched Roofs were replaced in the mid 2000’s and the Seller believes that they were 35 Year Shingles.
    Exterior Features

    Parking Spaces Total 10 Units With Garages 2

    Interior Features

    Sq Ft Of Improvement 4818 Unit Furnished1 0 Unit Furnished2 0 Unit Furnished3 0 Units With Refrigerators 10

    Property Features

    Actual Cap Rate 2.03 Actual Gross Scheduled Income 141000.0 Actual Operating Expense 71348 Assumable Finance 0 Buildings 2 Complex Features None Gross Equity 3620000 Gross Multiplier 25 Have 10 Apartment Units Leased Apartments 10 Mandatory Remarks None Known Market Area South Bay Monthly Rent Total 11750 Motive Want Exchange Other Income Amount 368 Other Income Source Gar/Laund Projected Cap Rate 4.81 Projected Gross Multiplier 14.93 Projected Gross Scheduled Inc 244440 Projected Net Income 175714 Projected Operating Expense 75777 Projected Other Income 7050 Tenant Pays Electric Y Tenant Pays Gas Y Tenant Pays Water N Unit Number1 2 Unit Number2 7 Unit Number3 1 Unit Rent Total1 2025 Unit Rent Total2 8750 Unit Rent Total3 975 Unit Rent1 $975-$1050 Unit Rent2 $1000-$1650 Unit Rent3 975

    Listing provided courtesy of Marcus & Millichap. Listing information © 2020 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 © 2020 San Diego MLS, Inc. Licensed in the state of California.
     
    Neuman & Neuman Real Estate Inc.
    516 5th Avenue
    San Diego CA, 92101