Listing ID: NDP2301963
Price: $5,450,000
Status: ACTIVE
Address: 3280 Reynard Way
City: San Diego
State: California
Postal Code: 92103
SqFt: 13,789
Acres: 0.317
County: San Diego
San Diego
CA
92103
First time on the Market!! Location, Location, Location!!! Value Add Potential for Investors. This 14 Unit Apartment complex is centrally located in Mission Hills between Bankers Hill and Hillcrest area of San Diego. Minutes from Balboa Park and Downtown San Diego. Property is fully leased, with 3 newly renovated units leased at Market Rent. Most of the units are below market rents, giving the new owner the ability to increase rents overtime and maximize the value. Ideal unit mix of 6 (2bed/2bath) and 8 (1bed/1bath). Each unit includes one detached garage. Property has 20 total garage spaces, with 6 of them collecting additional income. New exterior paint and improvements just completed at the property. Property is located minutes from 5 freeway and 163 freeway making it an ideal location with a dense and desirable rental market. This is a rare opportunity for an investor to enjoy a stream of income in a highly desirable area with great value add potential from maximizing to market rents. The close proximity to shopping, restaurants, major freeways and San Diegos best activities makes this property the ideal location for potential renters.First time on the Market!! Location, Location, Location!!! Value Add Potential for Investors. This 14 Unit Apartment complex is centrally located in Mission Hills between Bankers Hill and Hillcrest area of San Diego. Minutes from Balboa Park and Downtown San Diego. Property is fully leased, with 3 newly renovated units leased at Market Rent. Most of the units are below market rents, giving the new owner the ability to increase rents overtime and maximize the value. Ideal unit mix of 6 (2bed/2bath) and 8 (1bed/1bath). Each unit includes one detached garage. Property has 20 total garage spaces, with 6 of them collecting additional income. New exterior paint and improvements just completed at the property. Property is located minutes from 5 freeway and 163 freeway making it an ideal location with a dense and desirable rental market. This is a rare opportunity for an investor to enjoy a stream of income in a highly desirable area with great value add potential from maximizing to market rents. The close proximity to shopping, restaurants, major freeways and San Diegos best activities makes this property the ideal location for potential renters.
Primary Features
County:
San Diego
Property Type:
2-4 Units
Zoning:
Assessor
Interior
External
Entry Only:
no
Neighborhood:
Mission Hills
Number of Buildings:
2
Number of Units:
14
Pool:
N/K
Site:
Curbs, Sidewalks
Location
Zip/Area:
MISSION HILLS (92103)
Additional
Property Type:
2-4 UNITS
Supplement:
First time on the Market!! Location, Location, Location!!! Value Add Potential for Investors. This 14 Unit Apartment complex is centrally located in Mission Hills between Bankers Hill and Hillcrest area of San Diego. Minutes from Balboa Park and Downtown San Diego. Property is fully leased, with 3 newly renovated units leased at Market Rent. Most of the units are below market rents, giving the new owner the ability to increase rents overtime and maximize the value. Ideal unit mix of 6 (2bed/2bath) and 8 (1bed/1bath). Each unit includes one detached garage. Property has 20 total garage spaces, with 6 of them collecting additional income. New exterior paint and improvements just completed at the property. Property is located minutes from 5 freeway and 163 freeway making it an ideal location with a dense and desirable rental market. This is a rare opportunity for an investor to enjoy a stream of income in a highly desirable area with great value add potential from maximizing to market rents. The close proximity to shopping, restaurants, major freeways and San Diegos best activities makes this property the ideal location for potential renters.
Financial
Annual Expense Actual:
74098
Cap Rate Actual:
3.3
CFD/Mello-Roos Fee Reflct:
Year
Gross Scheduled Income Actual:
269580
Sale/Rent:
For Sale
Terms:
Cash, Conventional
Zoning Info
Area Info
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