Listing ID: 210023165
Price: $6,000,000
Status: ACTIVE
Address: 4514 Bancroft St
City: San Diego
State: California
Postal Code: 92116
SqFt: 11,738
Acres: 0.270
County: San Diego
San Diego
CA
92116
Rare opportunity to acquire a fully leased, 18-unit property on a very large lot in coveted Normal Heights one of San Diego’s best rental markets. This property is an outstanding investment opportunity. Additionally, this is an extremely large lot for neighborhood, which makes this rare find for a developer. Plenty of parking. Current rents below market. One unit is discounted for the onsite manager. Immediate potential for increased GSI. Do not disturb the occupants. Shown with accepted offer.

Primary Features

County: San Diego
Property Type: Commercial-Residential Income
Zoning: RM-1-2

Interior

Number of Baths (1): 1
Number of Baths (2): 1
Number of Baths (3): 1
Number of Baths (4): 1
Number of Baths (5): 1
Number of Baths (6): 1
Number of Baths (7): 1
Number of Bedrooms (1): 2
Number of Bedrooms (2): 1
Number of Bedrooms (3): 1
Number of Bedrooms (4): 1
Number of Bedrooms (5): 1
Number of Bedrooms (6): 1
Number of Bedrooms (7): 2
Number of Stories: 2
SqFt of Improvement: 7000

External

Entry Only: No
Number of Buildings: 1
Number of Units: 18
Number of Units (1): 1
Number of Units (2): 3
Number of Units (3): 1
Number of Units (4): 9
Number of Units (5): 1
Number of Units (6): 2
Number of Units (7): 1
Number of Units w/Disposals: 18
Number of Units w/Drapes: 18
Number of Units w/Ranges: 18
Number of Units w/Refrigerator: 18

Location

Country: United States
Market Area: Metro Uptown
Zip/Area: NORMAL HEIGHTS (92116)

Additional

Class: COMMERCIAL-RES INCOME
Have: 18 Units
Mandatory Remarks: None Known

Financial

Actual Gross Scheduled Income: 257040
Actual Insurance F&L Expense: 4417
Actual Operating Expense: 77112
Actual Taxes Expense: 16676
Cap Rate Actual: 3
Cap Rate Projected: 4.01
Gross Equity: 6000000
Gross Multiplier: 17.01
Number of Leased Apartments: 18
Price/Unit: 333333
Projected Gross Scheduled Income: 352800
Sale/Rent: For Sale
Sales Restrictions: N/K
Short Sale: no
Unit Rent (1): 850
Unit Rent (2): 1125
Unit Rent (3): 1195
Unit Rent (4): 1200
Unit Rent (5): 1250
Unit Rent (6): 1300
Unit Rent (7): 1350
Unit Rent Total (1): 850
Unit Rent Total (2): 3375
Unit Rent Total (3): 1195
Unit Rent Total (4): 10800
Unit Rent Total (5): 1250
Unit Rent Total (6): 2600
Unit Rent Total (7): 1350

Zoning Info


Area Info


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Listing courtesy of Andy Hsu & Associates

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