Listing ID: 210023140
Price: $6,000,000
Status: PENDING
Address: 4170 52nd St.
City: San Diego
State: California
Postal Code: 92105
SqFt: 19,051
Acres: 0.440
County: San Diego
San Diego
CA
92105
Welcome to Fairway Apartments! Excellent Investment Opportunity with tons of upside potential! This property features 26 units, 13 (2 Br) and 13 (1 Br) units with gated and secured parking, Gated community pool and directly across from Colina Del Sol Golf Course! This complex has a great open design with sweeping views of San Diego to the West and the Golf Course to the East. Situated in 3 buildings, this complex sits atop a knoll with plenty of breeze and located within close proximity of SDSU, public transportation, shopping and so much more. Many of the 1 Br units are very large and many of the units have been dialed in and spruced up over time. There is huge potential to add horse power to these value add units.

Primary Features

County: San Diego
Property Type: Commercial-Residential Income
Zoning: RM1-3

Interior

Cooling: None
Floor Covering: Tile, Vinyl
Floors: Slab, Wood
Heating: Wall
Laundry: Leased
Number of Baths (1): 1
Number of Baths (2): 1
Number of Bedrooms (1): 1
Number of Bedrooms (2): 2
Number of Stories: 2
SqFt of Improvement: 22818
SqFt Source: Buyer to Verify, Owner, Tax Record
Stories: 2 Story
Unit Type: Apartment

External

Construction: Stucco
Entry Only: No
Exterior: Front Sprinklers, Fully Landscaped, Metal Fence, Satellite Dish
Lot Size: .25 through .50 Acres
Number of Buildings: 3
Number of Carports: 26
Number of Units: 26
Number of Units (1): 13
Number of Units (2): 13
Number of Units w/Ranges: 26
Parking: Carports, Spaces
Parking Spaces Total: 30
Roof: Rock/Gravel

Location

Country: United States
Market Area: Metro Uptown
Zip/Area: EAST SAN DIEGO (92105)

Additional

Age: 61
Class: COMMERCIAL-RES INCOME
Have: 26 units
Mandatory Remarks: None Known
Special: None

Financial

Actual Gross Scheduled Income: 371256
Actual Operating Expense: 168961
Cap Rate Actual: 2.7
Cap Rate Projected: 5.7
Financial Info Source: Accountant
Gross Equity: 6000000
Gross Multiplier: 16.16
Monthly Rent Total: 30938
Number of Leased Apartments: 25
Price/Unit: 230769
Projected Annual P & I Expense: 185000
Projected Gross Multiplier: 11.36
Projected Gross Scheduled Income: 528000
Projected Net Income: 343000
Projected Operating Expense: 185000
Sale/Rent: For Sale
Sales Restrictions: N/K
Terms: Cash, Exchange Up
Unit Rent (1): 1278
Unit Rent (2): 1193
Unit Rent Total (1): 16614
Unit Rent Total (2): 14316

Zoning Info


Area Info


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Listing courtesy of Coldwell Banker West

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