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Listing ID: 210030993
Price: $5,150,000
Status: PENDING
Address: 3845 Chamoune Ave
City: San Diego
State: California
Postal Code: 92105
SqFt: 12,518
County: San Diego
San Diego
CA
92105
We are pleased to offer for sale 3845 Chamoune Avenue, a 22 unit apartment complex located in the heart of City Heights. The property consists of 22 legal units: 20 (1br/1ba) apartments, 1 (2br/2ba) apartment and 1 (3br/1ba) apartment. Over the recent past, Ownership has performed many capital improvements which include, but are not limited to, new exterior stucco/paint, new windows (select units), roof work, full interior remodel of 17 units, etc. The property is located in the center of San Diego County and is extremely convenient to all San Diego has to offer both on foot and via car/public transportation. Other amenities include ample off street parking and laundry facilities (leased). This is a rare opportunity in a HOT market to purchase a building and obtain a new first trust deed with close to 35% down and still cash flow well...There is also room to push rents throughout. Please call LA for additional information and/or questions/inquiries...

Primary Features

County: San Diego
Property Type: Commercial-Residential Income

Interior

Cooling: None
Floor Covering: Other/Remarks
Floors: Other/Remarks
Heating: Wall
Laundry: Leased
Number of Baths (1): 1
Number of Baths (2): 2
Number of Baths (3): 1
Number of Bedrooms (1): 1
Number of Bedrooms (2): 2
Number of Bedrooms (3): 3
Number of Stories: 2
SqFt of Improvement: 9350
SqFt Source: Tax Record
Stories: 2 Story
Unit Type: Apartment

External

Construction: Stucco
Entry Only: Yes
Exterior: None
Number of Buildings: 2
Number of Units: 22
Number of Units (1): 20
Number of Units (2): 1
Number of Units (3): 1
Parking: Spaces
Parking Spaces Total: 19
Roof: Composition

Location

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

Additional

Age: 1971
Amenities: None
Class: COMMERCIAL-RES INCOME
Have: Units
Mandatory Remarks: None Known
Special: Other/Remarks

Financial

Actual Cash on Cash: 4.5%
Actual Gross Scheduled Income: 402720
Actual Operating Expense: 133856
Actual Vacancy & Credit Loss: 12082
Cap Rate Actual: 5
Cap Rate Projected: 5.8
Financial Info Source: Other/Remarks
Gross Equity: 1800000
Gross Multiplier: 12.8
Monthly Rent Total: 33030
Other Income Amount: 530
Price/Unit: 234091
Projected Cash on Cash: 6.9%
Projected Gross Multiplier: 11.5
Projected Gross Scheduled Income: 449100
Projected Net Income: 299452
Projected Operating Expense: 136175
Projected Vacancy & Credit Los: 13473
Sale/Rent: For Sale
Sales Restrictions: N/K
Short Sale: no
Terms: Cash, Cash to Existing Loan, Cash to New Loan, Other/Remarks
Unit Rent (1): $1475-$1525
Unit Rent (2): 1625
Unit Rent (3): 2000
Unit Rent Total (1): 29405
Unit Rent Total (2): 1625
Unit Rent Total (3): 2000

Zoning Info


Area Info


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Listing courtesy of The Browar Group

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