Listing ID: 220013539
Price: $8,195,000
Status: ACTIVE
Address: 2104 Columbia
City: San Diego
State: California
Postal Code: 92101
SqFt: 4,712
County: San Diego
San Diego
CA
92101
2104 Columbia St is a class A, 2015 built 10 unit apartment building located in the heart of San Diego's "Little Italy" neighborhood. The unit mix consists of five 1 bed/1 bath units and five 2 bed/2 bath units. Each unit has 1 assigned space each, available through secured underground parking. There are four floorplan offerings in total for the tenants to select from. These range in square footage from 605 (118 sq ft balcony with daybed), 768 (82 sq ft balcony), 1062-1085 (285 sq ft deck) to 1288 (234 sq ft over 1 balcony and 1 deck). Due to its year built, rent control cap AB 1482 does not apply to the subject property, giving maximum ability for future owners to raise rents as they see fit.

Primary Features

County: San Diego
Property Type: Commercial-Residential Income

Interior

Cooling: Central Forced Air Gas
Floor Covering: Vinyl
Floors: Slab
Heating: Central Forced Air Gas
Laundry: Owned
Number of Baths (1): 1
Number of Baths (2): 2
Number of Bedrooms (1): 1
Number of Bedrooms (2): 2
Number of Stories: 3
SqFt of Improvement: 8215
SqFt Source: Tax Record
Unit Type: Condo

External

Entry Only: Yes
Exterior: Fully Landscaped
Lot Size: .25 Acres or less
Number of Buildings: 1
Number of Units: 10
Number of Units (1): 5
Number of Units (2): 5
Number of Units w/Disposals: 10
Number of Units w/Drapes: 10
Number of Units w/Garage: 10
Number of Units w/Ranges: 10
Number of Units w/Refrigerator: 10
Number Units w/Dishwashers: 10
Parking: Garages, Underground
Parking Spaces Total: 10
Roof: Composition

Location

Country: United States
Market Area: Metro Central
Zip/Area: SAN DIEGO DOWNTOWN (92101)

Additional

Age: 2015
Class: COMMERCIAL-RES INCOME
Have: units
Mandatory Remarks: None Known

Financial

Actual Gross Operating Income: 328998
Actual Gross Scheduled Income: 324480
Actual Operating Expense: 119391
Actual Other Income: 11232
Actual Vacancy & Credit Loss: 6714
Cap Rate Actual: 2.6
Cap Rate Projected: 3.7
Financial Info Source: Owner
Gross Equity: 3900000
Gross Multiplier: 24.4
Monthly Rent Total: 27040
Number of Leased Apartments: 10
Other Income Amount: 936
Other Income Source: MISC
Price/Unit: 819500
Projected Cash on Cash: 2.8
Projected Gross Multiplier: 19
Projected Gross Operating Income: 422607
Projected Gross Scheduled Income: 431232
Projected Net Income: 303216
Projected Operating Expense: 119391
Projected Vacancy & Credit Los: 8625
Sale/Rent: For Sale
Sales Restrictions: N/K
Short Sale: no
Tenant Pays Electric: L
Tenant Pays Gas: L
Tenant Pays Water: L
Terms: Cash, Cash to New Loan, Exchange Up
Unit Rent (1): 2437
Unit Rent (2): 2971
Unit Rent Total (1): 12185
Unit Rent Total (2): 14855

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 © 2022 San Diego MLS. Data updated on Thursday, June 30th, 2022 01:08:24 PM.
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Listing courtesy of South Coast Commercial, Inc.

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