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3854 50th Street

San Diego, CA 92105
  • $2,550,000
  • STATUS: ACTIVE
  • ON SITE: 52 Days
  • ID#: 240021564
$2,550,000
  • 3
    BEDS
  • 0.29
    ACRES
  • 2
    BATHS
  • 1
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

3854 50th Street is a 10-unit apartment complex that consists of 5,696 rentable SF situated on a 12,502 SF lot with over 16 parking spaces. The unit mix consists of 2 well laid out 2 Bed / 1.5 Bath units and 8 spacious 1 Bed / 1 Bath units, most of which have been remodeled with newer flooring, kitchens and bathrooms as well as security doors. The property was built in 1980 and features newer windows, laundry facilities, and a clean exterior. There is additional income from Utility Billback from the tenants and upside in the current rents. This is a true value add deal.

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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/155041736
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3854 50th Street San Diego, CA 92105

  • Price: $2,550,000
  • Status: ACTIVE
  • On Site: 52 Days
  • ID#: 240021564
3
Beds
2
Baths
1
½ Baths
0.29
Acres
Neighborhood:
East San Diego (92105)
County:
San Diego
Area:
East San Diego (92105)
Property Description
3854 50th Street is a 10-unit apartment complex that consists of 5,696 rentable SF situated on a 12,502 SF lot with over 16 parking spaces. The unit mix consists of 2 well laid out 2 Bed / 1.5 Bath units and 8 spacious 1 Bed / 1 Bath units, most of which have been remodeled with newer flooring, kitchens and bathrooms as well as security doors. The property was built in 1980 and features newer windows, laundry facilities, and a clean exterior. There is additional income from Utility Billback from the tenants and upside in the current rents. This is a true value add deal.
Exterior Features

Parking Spaces Total 16

Interior Features

Sq Ft Of Improvement 5696 Units With Ranges 10 Units With Refrigerators 10

Property Features

Actual Cap Rate 5.0 Actual Gross Operating Income 197414 Actual Gross Scheduled Income 203520.0 Actual Operating Expense 70194 Actual Vacancy And Credit Loss 6106 Assumable Finance 0 Buildings 1 Gross Equity 1225000 Gross Multiplier 12.5 Have Units Leased Apartments 10 Mandatory Remarks None Known Market Area Metro Uptown Monthly Rent Total 16960 Motive Want Sell Projected Cap Rate 6.3 Projected Gross Multiplier 10.7 Projected Gross Operating Inc 231054 Projected Gross Scheduled Inc 238200 Projected Net Income 160860 Projected Operating Expense 70194 Projected Vacancy And Credit Loss 7146 Short Sale No Unit Number1 2 Unit Number2 8 Unit Rent Total1 3526 Unit Rent Total2 13384 Unit Rent1 1763 Unit Rent2 1673

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