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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Listing courtesy of South Coast Commercial, Inc.

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