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Alexander Pfleger
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P: 858.483.4687
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12370 Parkside St
Lakeside, California CA 92040
Price: $1,195,000
ACTIVE Status, Bedrooms, Full Baths
9,622 SqFt
Listing ID # 190022318

Property Description:

CBRE is pleased to offer for sale Parkside Apartments, a 6-unit apartment complex immediately across from the newly built Sheriff substation. The units feature all 2 bedroom 2 bath layouts with over 940 square feet of living space, in-unit washer-dryer hookups, air conditioner wall units and kitchens with bay windows. The building offers a low maintenance pitched roof design, freshly painted stucco exterior and minimal landscaping upkeep. The staircases were also recently upgraded. With under market rents, this asset offers substantial rental upside of over $300 avg. per unit per month. The East County submarket was recently identified by CBRE Econometric Advisors as the highest rent growth and lowest vacancy submarket in San Diego county.

Primary Features

Market Area: East County
Short Sale: no
Number of Buildings: 1
Number of Units: 6
Construction: Stucco
Roof: Composition
Cooling: Wall/Window
Parking: Spaces

Interior Features

Number of Baths (1): 2
Number of Baths (2): 2
Number of Baths (3): 2
Number of Baths (4): 2
Number of Baths (5): 2
Number of Baths (6): 2
Number of Bedrooms (1): 2
Number of Bedrooms (2): 2
Number of Bedrooms (3): 2
Number of Bedrooms (4): 2
Number of Bedrooms (5): 2
Number of Bedrooms (6): 2
Stories: 2 Story

External Features

Entry Only: No

Location Information

Zip/Area: LAKESIDE (92040)

Financial Details

Actual Gross Oper Income: 84264
Actual Gross Scheduled Income: 87264
Actual Operating Expense: 30069
Actual Vacancy & Credit Loss: 2618
Assessors Parcel Number: 394-110-21-00
Cap Rate Actual: 4.57
Cap Rate Projected: 6.43
Gross Equity: 455000
Gross Multiplier: 14
Monthly Rent Total: 7272
Price/Unit: 199000
Projected Cash on Cash: 7.29
Projected Gross Multiplier: 10.71
Projected Gross Operating Income: 108252
Projected Gross Scheduled Income: 111600
Projected Net Income: 76835
Projected Operating Expense: 31417
Projected Vacancy & Credit Los: 3348
Sale/Rent: For Sale
Unit Rent (1): 1275
Unit Rent (2): 1275
Unit Rent (3): 1100
Unit Rent (4): 1300
Unit Rent (5): 1100
Unit Rent (6): 1220

Additional

Association ID: San Diego Association of REALTORS (SDAR)
Have: 6 units
Mandatory Remarks: None Known
Number of Stories: 2
Number of Units (1): 1
Number of Units (2): 2
Number of Units (3): 3
Number of Units (4): 4
Number of Units (5): 5
Number of Units (6): 6
Sales Restrictions: N/K
SqFt of Improvement: 5664
SqFt Source: Tax Record
Unit Type: Apartment

Zoning Info


Listing courtesy of CBRE
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) services provided by SDMLS and CRMLS. 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. © 2019 San Diego Multiple Listing Service, Inc. © 2019 California Regional Multiple Listing Service. Data updated on Tuesday, June 18th, 2019 02:23:08 PM.

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The Fair Housing Act prohibits discrimination in housing based on color, race, religion, national origin, sex, familial status, or disability.

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.

Information Deemed Reliable But Not Guaranteed. 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. This information, including square footage, while not guaranteed, has been acquired from sources believed to be reliable.

Last Updated: 2019-05-20

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