Listing ID: 220023807
Price: $5,495,000
Status: ACTIVE
Address: 4675 Louisiana
City: San Diego
State: California
Postal Code: 92116
County: San Diego
San Diego
CA
92116
We are pleased to present 4675 Louisiana Street Apartments for sale in San Diego's charming University Heights neighborhood. The property was originally constructed in 1967 and has been well maintained with some significant capital improvements completed in recent years. While the units are clean and in good condition, there is significant rental upside through interior renovations. The units are a combination of one and two-bedroom floor plans. Property amenities include a common laundry room, secured entry, reserved parking and additional storage. Located in a charming residential pocket, the property is just one block from million-dollar homes along Panorama Drive with sweeping canyon views. The neighborhood is a walker's paradise with a plethora of trendy restaurants, coffee shops, bars and shops along Adams Avenue and Park Blvd. Residents are walking distance to the popular Trolley Barn Park with a playground, picnic area and summer concert series. 4675 Louisiana is located just one block west of Texas Street, a major north-south thoroughfare with direct access to Interstate 8. The subject has excellent proximity to major employment centers in Mission Valley, Downtown San Diego, Kearny Mesa and beyond.

Primary Features

County: San Diego
Property Type: Commercial-Residential Income

Interior

Cooling: None
Heating: Wall
Laundry: Leased
Number of Baths (1): 1
Number of Baths (2): 1
Number of Baths (3): 2
Number of Bedrooms (1): 1
Number of Bedrooms (2): 2
Number of Bedrooms (3): 2
Number of Stories: 2
SqFt of Improvement: 10050
SqFt Source: Buyer to Verify, Owner
Unit Type: Apartment

External

Construction: Frame, Stucco
Entry Only: No
Exterior: Metal Fence
Number of Buildings: 1
Number of Units: 13
Number of Units (1): 4
Number of Units (2): 8
Number of Units (3): 1
Parking: Garages, Spaces
Parking Spaces Total: 13

Location

Country: United States
Market Area: Metro Uptown
Zip/Area: NORMAL HEIGHTS (92116)

Additional

Age: 1967
Class: COMMERCIAL-RES INCOME
Have: 13 Units
Mandatory Remarks: None Known

Financial

Actual Gross Scheduled Income: 228160
Actual Operating Expense: 112844
Cap Rate Actual: 2.03
Cap Rate Projected: 4.68
Financial Info Source: Owner
Gross Equity: 4100000
Gross Multiplier: 23.7
Price/Unit: 422692
Projected Gross Multiplier: 14.4
Sale/Rent: For Sale
Sales Restrictions: N/K
Short Sale: no
Unit Rent (1): 1650
Unit Rent (2): 1377
Unit Rent (3): 1400
Unit Rent Total (1): 6600
Unit Rent Total (2): 11013
Unit Rent Total (3): 1400

Zoning Info


Area Info


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Listing courtesy of Eric D. Comer, Broker

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