Listing ID: 220007049
Sold For: $7,360,625
Status: SOLD
Sold Date: 6/23/2022
Address: 4566 36th Street
City: San Diego
State: California
Postal Code: 92116
SqFt: 16,625
County: San Diego
San Diego
CA
92116
Laurel Manor offers an investor 20% upside in rents in the rapidly accelerating rental market of Normal Heights. Located at 4566 36th Street, the 13,862 square foot structure built in 1973 is situated on a 16,625 square foot lot just over a block from Adams Avenue. The property features one 2Bd/2Ba, six 2Bd/1Ba, fourteen 1Bd/1Ba, and one studio unit. The common areas boast a pool, laundry facilities, 14 surface parking spaces, 2 single car garages and 2 double car garages. Most of the units have undergone remodeling in the last 10 years.
Primary Features
County:
San Diego
Property Type:
Commercial-Residential Income
Interior
Number of Baths (1):
2
Number of Baths (2):
1
Number of Baths (3):
1
Number of Baths (4):
1
Number of Bedrooms (1):
2
Number of Bedrooms (2):
2
Number of Bedrooms (3):
1
Number of Stories:
2
SqFt of Improvement:
13862
External
Entry Only:
No
Number of Buildings:
1
Number of Units:
22
Number of Units (1):
1
Number of Units (2):
6
Number of Units (3):
14
Number of Units (4):
1
Number of Units w/Garage:
4
Number of Units w/Ranges:
22
Number of Units w/Refrigerator:
22
Parking Spaces Total:
20
Location
Country:
United States
Market Area:
Metro Uptown
Zip/Area:
NORMAL HEIGHTS (92116)
Additional
Age:
1973
Class:
COMMERCIAL-RES INCOME
Have:
Units
Mandatory Remarks:
None Known
Financial
Actual Gross Operating Income:
471862
Actual Gross Scheduled Income:
486456
Actual Operating Expense:
192743
Actual Vacancy & Credit Loss:
14594
Cap Rate Actual:
3.5
Cap Rate Projected:
4.66
Financing:
Cash
Gross Equity:
5975000
Gross Multiplier:
16.4
Monthly Rent Total:
40538
Number of Leased Apartments:
22
Other Income Source:
Gar/Lndry
Price per SqFt of Improvements:
575.31
Price/Unit:
362500
Projected Gross Multiplier:
13.7
Projected Gross Operating Income:
564540
Projected Gross Scheduled Income:
582000
Projected Operating Expense:
192743
Projected Vacancy & Credit Los:
17460
Sale/Rent:
For Sale
Sales Restrictions:
N/K
Short Sale:
no
SP$/LP$:
0.92
Unit Rent (1):
633
Unit Rent (2):
1989
Unit Rent (3):
1886
Unit Rent (4):
1171
Unit Rent Total (1):
633
Unit Rent Total (2):
11934
Unit Rent Total (3):
26404
Unit Rent Total (4):
1171
Zoning Info
Area Info
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