Listing ID: 200015416
Price: $5,100,000
Status: PENDING
Address: 5021 - 5029 Logan Avenue
City: San Diego
State: California
Postal Code: 92113
SqFt: 26,531
County: San Diego
San Diego
CA
92113
We are pleased to present the Solmelia Condominiums, a 1997 Built - gated community of (14) Three Bed / Two Bath condos and (7) Two Bed / Two bath condos and (18) Garages on a 26,531 SF lot with additional off-street parking. Current ownership is 95% of the HOA (21 out of 22 total units). All units are in great condition and tenants share pride of ownership. All units were built condo spec with forced AC/Heat, granite countertops, updated kitchens/baths from gut conversion in 2006. Pitched roofs, garages, new dual pane vinyl windows included. Located in an Opportunity Zone.
Primary Features
County:
San Diego
Price Before Reduction:
5150000
Price Reduction Date:
2020-07-21T01:40:36+00:00
Property Type:
Commercial-Residential Income
Zoning:
RM
Interior
Number of Baths (1):
2
Number of Baths (2):
2
Number of Baths (3):
1
Number of Bedrooms (1):
2
Number of Bedrooms (2):
3
Number of Bedrooms (3):
2
Number of Stories:
2
SqFt of Improvement:
17794
External
Entry Only:
No
Number of Buildings:
5
Number of Units:
21
Number of Units (1):
7
Number of Units (2):
14
Number of Units (3):
1
Number of Units w/Disposals:
21
Number of Units w/Garage:
18
Number of Units w/Ranges:
21
Number of Units w/Refrigerator:
21
Number Units w/Dishwashers:
21
Parking Spaces Total:
14
Location
Country:
United States
Market Area:
Metro Central
Zip/Area:
LOGAN HEIGHTS (92113)
Additional
Age:
1997
Class:
COMMERCIAL-RES INCOME
Have:
21 Condo Spec 3's and 2's
Mandatory Remarks:
None Known
Financial
Actual Cash on Cash:
4.3
Actual Gross Scheduled Income:
433584
Actual Operating Expense:
169640
Cap Rate Actual:
5.25
Cap Rate Projected:
5.6
Gross Equity:
3400000
Gross Multiplier:
11.8
Monthly Rent Total:
36132
Price/Unit:
242
Projected Cash on Cash:
5.3
Projected Gross Multiplier:
10.9
Projected Gross Scheduled Income:
460800
Sale/Rent:
For Sale
Sales Restrictions:
N/K
Short Sale:
no
Tenant Pays Electric:
Y
Tenant Pays Water:
N
Unit Rent (1):
1500
Unit Rent (2):
1808
Unit Rent (3):
1400
Unit Rent Total (1):
10500
Unit Rent Total (2):
25312
Unit Rent Total (3):
1400
Zoning Info
Area Info
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