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4903 Naples St

San Diego, CA 92110
  • $2,995,000
  • STATUS: ACTIVE
  • ON SITE: 102 Days
  • ID#: 240000613
$2,995,000
  • 4
    BEDS
  • 0.15
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Unique chance to own a multifamily asset nestled in the thriving Bay Park community. This property boasts a well-appointed 3BR/2BA single-family residence along with eight 1BR/1BA units, providing an attractive rental mix. Positioned for substantial rental income growth, its strategic location near Mission Bay, the University of San Diego, a plethora of shops and restaurants, downtown attractions, the new Tecolote Trolley Station, and historic Old Town ensures a steady demand from tenants. The property is situated steps away from the proposed Morena Corridor Project, setting the stage for anticipated growth and development. Seize this rare opportunity to invest in a property that combines immediate rental potential with a promising future in one of San Diego's most sought-after neighborhoods.

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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/146485502
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4903 Naples St San Diego, CA 92110

  • Price: $2,995,000
  • Status: ACTIVE
  • On Site: 102 Days
  • ID#: 240000613
4
Beds
3
Baths
0
½ Baths
0.15
Acres
Neighborhood:
Old Town Sd (92110)
County:
San Diego
Area:
Old Town Sd (92110)
Property Description
Unique chance to own a multifamily asset nestled in the thriving Bay Park community. This property boasts a well-appointed 3BR/2BA single-family residence along with eight 1BR/1BA units, providing an attractive rental mix. Positioned for substantial rental income growth, its strategic location near Mission Bay, the University of San Diego, a plethora of shops and restaurants, downtown attractions, the new Tecolote Trolley Station, and historic Old Town ensures a steady demand from tenants. The property is situated steps away from the proposed Morena Corridor Project, setting the stage for anticipated growth and development. Seize this rare opportunity to invest in a property that combines immediate rental potential with a promising future in one of San Diego's most sought-after neighborhoods.
Exterior Features

Carports 0 Construction FrameStucco Exterior Part FencedWood Fence Roof Composition Units With Garages 0

Interior Features

Cooling None Heating Wall Laundry Owned Sq Ft Of Improvement 5165 Stories 2 Story Units With Ranges 9 Units With Refrigerators 9

Property Features

Actual Cap Rate 2.7 Actual Cash Flow 81878 Actual Cash On Cash 2.7 Actual Gross Operating Income 133711 Actual Gross Scheduled Income 136440.0 Actual Operating Expense 51834 Actual Vacancy And Credit Loss 2729 Assumable Finance 0 Buildings 2 Financial Information Source Owner Gross Equity 2995000 Gross Multiplier 22 Have 9 Bay Park Units Leased Apartments 9 Mandatory Remarks None Known Market Area Metro Monthly Rent Total 11270 Motive Want Cash Out Other Income Amount 100 Other Income Source Laundry Present Loan 0 Projected Cap Rate 7.1 Projected Cash Flow 211649 Projected Cash On Cash 7.1 Projected Gross Multiplier 11.1 Projected Gross Operating Inc 263483 Projected Gross Scheduled Inc 268860 Projected Net Income 211649 Projected Operating Expense 51834 Projected Vacancy And Credit Loss 5377 Short Sale No Sq Ft Source Buyer to Verify Tenant Pays Electric y Tenant Pays Gas n Tenant Pays Water n Terms CashCash to New Loan Unit Number1 1 Unit Number2 8 Unit Rent Total1 2006 Unit Rent Total2 9240 Unit Rent1 2006 Unit Rent2 1155 Unit Type Apartment

San Diego MLS logo Listing provided courtesy of Seth Watje of Starker West, Inc.: 619-358-3748. 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 | Keller Williams La Jolla
4138 Napier St.
San Diego CA, 92110