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Alexander Pfleger
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P: 858.483.4687
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3612-3618 Fourth Ave.
San Diego, California CA 92103
Price: $2,695,000
ACTIVE Status, Bedrooms, Full Baths

Listing ID # 180061161

Property Description:

Prime redevelopment opportunity. Sellers have completed feasibility study which shows the potential to build 17-26 units using the 50% density bonus. Recently renovated with nearly $250,000 in upgrades, this four-unit multi-family is located in the heart of Hillcrest. Upgrades allow next buyer the opportunity to increase and collect rents while completing planning and permits. See supplemental remarks...All units are 2 bed/1 bath and include original hard wood floors, granite countertops, newer cabinets and stainless steel appliances, remodeled bathrooms and large spacious living areas. The building has an enclosed shared yard with upgraded landscaping, coin operated laundry and storage providing additional income and off street parking.

Primary Features

Community: HILLCREST
Neighborhood: Hillcrest
Complex/Park: N/A
Short Sale: no
Net Operating Income Projected: 80015
Number of Buildings: 2
Number of Units: 4
Tenant Pays: N/K
Complex Features: N/K
Security: N/K
Roof: Composition
Pool: N/K
Exterior: Wood
Heat Equipment: Wall/Gravity
Cooling: N/K

Interior Features

Levels: 2 Story
Total Stories: 2
Unit 1 Laundry Hook Ups: No
Unit 1 Number of Bedrooms: 2
Unit 1 Number of Full Baths: 1
Unit 1 Number Total Baths: 1
Unit 2 Laundry Hook Ups: No
Unit 2 Number of Bedrooms: 2
Unit 2 Number of Full Baths: 1
Unit 2 Number Total Baths: 1
Unit 3 Laundry Hook Ups: No
Unit 3 Number Bedrooms: 2
Unit 3 Number of Full Baths: 1
Unit 3 Number Total Baths: 1
Unit 4 Laundry Hook Ups: No
Unit 4 Number of Bedrooms: 2
Unit 4 Number of Full Baths: 1
Unit 4 Number Total Baths: 1

External Features

Entry Only: yes
Fencing: Other/Remarks
Frontage: N/K
Irrigation: Sprinklers
Lot Size: 7,500-10,889 SF
Parking for RV: None Known
Parking Garage Unit 1: Detached
Parking Garage Unit 2: Detached
Parking Garage Unit 3: Detached
Parking Garage Unit 4: Detached
Parking Non-Garage Unit 1: None Known
Parking Non-Garage Unit 2: None Known
Parking Non-Garage Unit 3: None Known
Parking Non-Garage Unit 4: None Known
Pool Heat: None Known
Unit 1 Exclusive Use Yard: no
Unit 2 Exclusive Use Yard: no
Unit 3 Exclusive Use Yard: no
Unit 4 Exclusive Use Yard: No

Location Information

Cross Street(s): Brookes
Market Area: Metro Uptown
Zip/Area: MISSION HILLS (92103)

Financial Details

Annual Expense Actual: 63985
Annual Expense Projected: 63985
Assessors Parcel Number: 452-285-17-00
Cap Rate Actual: 2.19
Cap Rate Projected: 2.76
Gross Rent Multiplier Act: 23.23
Gross Rent Multiplier Projected: 19.44
Gross Scheduled Income Actual: 120533
Gross Scheduled Income Projected: 144000
Other Fee Type: N/K
Other Income Actual: 2933
Other Income Projected: 3500
Sale/Rent: For Sale
Terms: Cash, Conventional, Exchange
Unit 1 Rent Actual: 2525
Unit 2 Rent Actual: 2525
Unit 3 Rent Actual: 2525
Unit 4 Rent Actual: 2525

Additional

Additional Property Use: N/K
Age Restrictions: N/K
Association ID: San Diego Association of REALTORS (SDAR)
Heat Source: Other/Remarks
Miscellaneous: N/K
Number of Units w/Garage: 4
Number of Units w/Range/Oven: 4
Number of Units w/Refrigerator: 4
Number Units w/Dishwashers: 4
Possession: Close of Escrow
Property Type: 2-4 UNITS
Sales Restrictions: N/K

Zoning Info


Listing courtesy of Compass
©2019 Sandicor, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from San Diego Multiple Listing Service (SDMLS). The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data updated on Thursday, February 21st, 2019 10:58:05 AM.

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Office: 858-483-4687 | Cell: 619-339-7334 | Email: [email protected] | CA BRE #01043581 | NMLS# 373603

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