Listing ID: 210027258
Price: $5,700,000
Status: PENDING
Address: 4335-39 Hilltop Dr
City: San Diego
State: California
Postal Code: 92102
Acres: 1.180
County: San Diego
San Diego
CA
92102
The Hilltop Cove Apartments is a 24 unit apartment community located in the Chollas View submarket of San Diego. Situated over four separate buildings on a 1.18 acre parcel the property consists of twenty four 3 Bed/2 Bath units. The subject property has forty four on site parking spots and two on site laundry facilities with owned machines. The property has been well kept over the years but an opportunity exists to remodel the units and substantially increase rents. The property is located approximately 5 miles from Downtown San Diego and is a few blocks away from the 805 and 94 freeways providing residents easy access to employments centers, shopping, dining, and entertainment. The Hilltop Cove Apartments is a fantastic opportunity for an investor looking for a value add opportunity with solid rent growth moving forward.

Primary Features

County: San Diego
Property Type: Commercial-Residential Income

Interior

Number of Baths (1): 2
Number of Bedrooms (1): 3
Number of Stories: 2
SqFt of Improvement: 24000

External

Entry Only: No
Number of Buildings: 4
Number of Units: 24
Number of Units (1): 24
Parking Spaces Total: 44
Projected Gas & Electric: 6000

Location

Country: United States
Market Area: Metro Central
Zip/Area: SAN DIEGO (92102)

Additional

Age: 1985
Amenities: Other/Remarks
Class: COMMERCIAL-RES INCOME
Have: Real Estate
Mandatory Remarks: None Known

Financial

Actual Cash Flow: 39569
Actual Cash on Cash: 1.98
Actual Gardener Expense: 1440
Actual Gas & Electric Expense: 6000
Actual Gross Operating Income: 423318
Actual Gross Scheduled Income: 428988
Actual Insurance F&L Expense: 7200
Actual Maintenance Expense: 24000
Actual Manager Expense: 6000
Actual Operating Expense: 184104
Actual Other Expense: 3000
Actual Other Income: 7200
Actual Pest Control Expense: 2500
Actual Property Management Expense: 21166
Actual Taxes Expense: 70198
Actual Total Expense: 184104
Actual Total P&I Pay: 199645
Actual Trash Expense: 7600
Actual Vacancy & Credit Loss: 12870
Actual Water/Sewer Expense: 35000
Cap Rate Actual: 4.2
Cap Rate Projected: 7.36
Gross Equity: 5700000
Gross Multiplier: 13.29
Price/Unit: 237500
Projected Annual P & I Expense: 199645
Projected Cash Flow: 219649
Projected Cash on Cash: 11.01
Projected F&L Insurange Expense: 7200
Projected Gardener Expense: 1440
Projected Gross Multiplier: 9.21
Projected Gross Operating Income: 607824
Projected Gross Scheduled Income: 619200
Projected Maintenance Expense: 19200
Projected Manager Expense: 6000
Projected Net Income: 419294
Projected Operating Expense: 188530
Projected Other Expense: 3000
Projected Other Income: 7200
Projected Pest Expense: 2500
Projected Prop Management Expense: 30391
Projected Taxes Expense: 70198
Projected Total Expense: 188530
Projected Trash Expense: 7600
Projected Vacancy & Credit Los: 18576
Projected Water/Sewer Expense: 35000
Sale/Rent: For Sale
Sales Restrictions: N/K
Short Sale: no
Unit Rent (1): 1490
Unit Rent Total (1): 35749

Zoning Info


Area Info


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, noncommercial 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) service provided by San Diego MLS. 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. Compilation © 2019 San Diego MLS. Data updated on Tuesday, October 19th, 2021 03:11:08 PM.
#IDX-detailsPropertyPhoto, #IDX-modernMain, #IDX-detailsHead, .IDX-detailsshowcaseSlides, #IDX-detailsHead, .IDX-detailsshowcaseSlides
Listing courtesy of Acre Investment Real Estate

Request More Information - Listing ID 210027258

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Data services provided by IDX Broker
{"page":"listing","idxID":"c010","listingID":"210027258","extra":"4335-39-Hilltop-Dr-San-Diego-CA-92102","type":"moreinfo"}
https://www.century21award.com
details.php
https://search.century21award.com
details
http://century21award.idxbroker.com/idx/results/listings?pt=sfr