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375 S 49th Street

San Diego, CA 92113
  • $2,850,000
  • STATUS: ACTIVE
  • ON SITE: 555 Days
  • ID#: 230006123
UPDATED: 52 min ago
$2,850,000
  • 5
    BEDS
  • 0.41
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

375 S 49th Street is located in an Opportunity Zone and is part of the Complete Communities Plan. The property is situated on a large 17,694 square foot lot and has a strong unit mix of (4) 3 Bedroom / 2 Bathroom units appx 1,000 square feet and (6) 2 Bedroom / 1 Bathroom units appx 830 square feet. The 8,984 square foot structure built in 1971 has been thoroughly renovated 10 years ago, has onsite laundry facilities, and approximately 20 gated parking spaces with a rear entrance and frontage on S Willie James Jones Avenue. There is upside in the development potential on or over the parking lot. The kitchens and baths have tile, new cabinets, vanities, and appliances. The bedrooms have mirrored closet doors. The current $1,660,000 loan at 2.94% fixed until June 2026 can be assumed.

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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 © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.redtreerealty.com/homes/138260140
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375 S 49th Street San Diego, CA 92113

  • Price: $2,850,000
  • Status: ACTIVE
  • On Site: 555 Days
  • Updated: 52 min ago
  • ID#: 230006123
5
Beds
3
Baths
0
½ Baths
0.41
Acres
Neighborhood:
Logan Heights (92113)
County:
San Diego
Area:
Logan Heights (92113)
Property Description
375 S 49th Street is located in an Opportunity Zone and is part of the Complete Communities Plan. The property is situated on a large 17,694 square foot lot and has a strong unit mix of (4) 3 Bedroom / 2 Bathroom units appx 1,000 square feet and (6) 2 Bedroom / 1 Bathroom units appx 830 square feet. The 8,984 square foot structure built in 1971 has been thoroughly renovated 10 years ago, has onsite laundry facilities, and approximately 20 gated parking spaces with a rear entrance and frontage on S Willie James Jones Avenue. There is upside in the development potential on or over the parking lot. The kitchens and baths have tile, new cabinets, vanities, and appliances. The bedrooms have mirrored closet doors. The current $1,660,000 loan at 2.94% fixed until June 2026 can be assumed.
Exterior Features

Parking Spaces Total 20

Interior Features

Sq Ft Of Improvement 8984 Units With Ranges 10 Units With Refrigerators 10

Property Features

1st Loan Assumable Yes 1st Loan Balance 1660000 Actual Cap Rate 5.67 Actual Gross Operating Income 251529 Actual Gross Scheduled Income 259308.0 Actual Operating Expense 89867 Actual Vacancy And Credit Loss 7779 Assumable Finance 1660000 Buildings 1 Gross Equity 1180000 Gross Multiplier 11 Have Units Leased Apartments 10 Mandatory Remarks None Known Market Area Metro Central Monthly Rent Total 21609 Motive Want 1031 Present Loan 1660000 Projected Cap Rate 7.0 Projected Gross Multiplier 9.7 Projected Gross Operating Inc 288216 Projected Gross Scheduled Inc 294216 Projected Net Income 198349 Projected Operating Expense 89867 Projected Vacancy And Credit Loss 6000 Short Sale No Unit Number1 6 Unit Number2 4 Unit Rent Total1 11406 Unit Rent Total2 9176 Unit Rent1 1901 Unit Rent2 2294

San Diego MLS logo Listing provided courtesy of Benn Vogelsang of NorthMarq Multifamily: 415-250-4947. Listing information © 2024 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 © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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Red Tree Realty
4138 Napier St.
San Diego CA, 92110