Listing ID: 210020516
Sold For: $4,250,000
Status: SOLD
Sold Date: 1/24/2022
Address: 1479-1499 J Street
City: San Diego
State: California
Postal Code: 92101
SqFt: 4,552
County: San Diego
San Diego
CA
92101
REDUCED PRICE! Continuously renovated and upgraded since 2012, Isaac Lyon provides an investor the opportunity to purchase a “turn key” apartment building in an irreplaceable downtown location. There are several new multifamily projects within a three-block radius that have recently been completed or are under construction. These new projects have dramatically improved the immediate neighborhood and are attract high quality tenants. The property is comprised of 16 one-bedroom and studio units in two buildings located on a 4,552 square foot lot with 1 parking space. Isaac Lyon boasts an exceptional and convenient location, providing accessibility to the exciting 24-hour live-work-play environment in Downtown San Diego. The location is convenient to the Trolley, I-5, SR-163 and 94-freeway.
Primary Features
County:
San Diego
Price Before Reduction:
4480000
Price Reduction Date:
2021-11-01T22:06:04+00:00
Property Type:
Commercial-Residential Income
Zoning:
CCPD-NC
Interior
Cooling:
Wall/Window
Floor Covering:
Hardwood
Number of Baths (1):
1
Number of Baths (2):
1
Number of Baths (3):
1
Number of Bedrooms (3):
1
Number of Stories:
2
SqFt of Improvement:
5500
SqFt Source:
Buyer to Verify, Owner
Unit Type:
Apartment
External
Entry Only:
No
Exterior:
Metal Fence
Lot Dimensions Approximate:
65' X 69'
Lot Size:
.25 Acres or less
Number of Buildings:
2
Number of Units:
16
Number of Units (1):
1
Number of Units (2):
7
Number of Units (3):
8
Location
Country:
United States
Market Area:
Metro Central
Zip/Area:
SAN DIEGO DOWNTOWN (92101)
Additional
Class:
COMMERCIAL-RES INCOME
Have:
16 Units
Mandatory Remarks:
None Known
Financial
Actual Gross Scheduled Income:
286500
Actual Operating Expense:
102102
Cap Rate Actual:
4.3
Cap Rate Projected:
4.82
Financial Info Source:
Owner
Financing:
Cash to Existing Loan
Gross Equity:
1800000
Gross Multiplier:
14.99
Price/Unit:
268438
Projected Gross Multiplier:
13.89
Sale/Rent:
For Sale
Sales Restrictions:
N/K
Short Sale:
no
SP$/LP$:
0.99
Unit Rent (1):
1275
Unit Rent (2):
1412
Unit Rent (3):
1589
Zoning Info
Area Info
Request More Information - Listing ID 210020516
Data services provided by IDX Broker
