Listing ID: 210028440
Price: $5,535,000
Status: Active
Address: 526 Anderson Pl.
City: San Diego
State: California
Postal Code: 92103
County: San Diego
San Diego
CA
92103
Prime Hillcrest location a few blocks from Balboa Park! Two Spanish-style buildings. Large units with high ceilings. All kitchens and most bathrooms have been tastefully remodeled. Seller installed a $45k solar water heating system with four large storage tanks to provide hot water to tenants and laundry, making utility bills much lower than average. Owner resurfaced the roof and then painted/sealed it with white reflective silicone. He reported that the roof temperature dropped more than 40 degrees. Residents report that their summer interior temperature dropped 10 degrees. Their lower A/C bills makes the asset more desirable and boosts the rent potential. On premises owners workshop and storage area. Owner reports vacancy loss is less than 1% over past several years. One resident of 7 1/2 years states that parking is not a problem. 6th St. has no meters. 5th St. has meters. Some pay for one hour parking just prior to the meter requirements ending and are good for the rest of the night and just drive away in the morning. The resident manager is the seller's sister. She is currently credited $9,000/year for her resident manager services.

Primary Features

County: San Diego
Property Sub Type: Commercial/Residential
Property Type: Commercial Sale

Interior

External

Number Of Buildings: 2

Location

Country: US
MLS Area Major: 92103 - Mission Hills

Additional

Days On Market: 10
List Agent State License: 00918512
Number Of Units Total: 16
Parcel Number: 4522820600

Financial

Cap Rate: 3.3
Gross Scheduled Income: 311820
Insurance Expense: 4800
Maintenance Expense: 12000
Net Operating Income: 181579
Operating Expense: 124005
Other Income 1: 240
Total Expenses: 124005
Trash Expense: 4000
Water Sewer Expense: 11200

Zoning Info


Area Info


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Based on information from CARETS as of Tuesday, October 19th, 2021 04:58:57 PM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

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Listing courtesy of Terry Moore, DRE #00918512 from Apartment Consultants, Inc.
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Listing courtesy of Terry Moore, DRE #00918512 from Apartment Consultants, Inc.

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