Listing ID: 220019646
Price: $7,995,000
Status: ACTIVE
Address: 2104 Columbia
City: San Diego
State: California
Postal Code: 92101
SqFt: 4,712
County: San Diego
San Diego
CA
92101
Market rents achievable within first 6 months due to new age of building and supportable rent comps, contact agent for lender info. 2104 Columbia St is a class A, 2015 built apartment complex located in the heart of Little Italy. 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. Ten On Columbia offers four floorplans in total. 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). Rent control cap AB 1482 does not apply to the subject property, offering an investor a 4% cap rate within first 6 months.

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: Apartment, Condo

External

Construction: Stucco
Entry Only: Yes
Exterior: Fully Landscaped, Wood Fence
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
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: 357704
Actual Gross Scheduled Income: 471324
Actual Operating Expense: 141795
Actual Vacancy & Credit Loss: 7300
Cap Rate Actual: 4
Financial Info Source: Owner
Fiscal Year From: 22
Fiscal Year To: 23
Gross Equity: 7995000
Gross Multiplier: 17
Monthly Rent Total: 39277
Number of Leased Apartments: 10
Price/Unit: 799500
Sale/Rent: For Sale
Sales Restrictions: N/K
Short Sale: no
Tenant Pays Electric: y
Tenant Pays Gas: y
Tenant Pays Water: n
Terms: Cash, Cash to New Loan
Unit Rent (1): 2723
Unit Rent (2): 3255
Unit Rent Total (1): 13615
Unit Rent Total (2): 16275

Zoning Info


Area Info


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Listing courtesy of South Coast Commercial, Inc.

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