Listing ID: 220015041SD
Price: $9,120,000
Status: Active
Address: 5101 Towle Court
City: San Diego
State: California
Postal Code: 92105
County: San Diego
San Diego
CA
92105
The Royal Apartments feature 48 approximately 365 sq ft studio apartments built between 1963 and 1965 situated on two parcels totaling approximately 45,537 sq ft. The property features 44 parking spaces, a pool, laundry facilities, and consists of two buildings with pitched roofs. One of the units is used as an onsite office, there was a recent large landscaping project completed, many of the tenants are long term, and all tenants are month to month. There is more than 64% upside in the current rents. The units feature a mix of faux wood, vinyl plank, and carpeted flooring and some bathrooms have been remodeled. Large cabinets separate the living and sleeping areas in the units. Routine maintenance has been performed during long term ownership but there is a great opportunity for value add for a new owner. There is assumable financing at 2.84% fixed for 3 more years or buyer to purchase free and clear by paying seller's prepayment penalty.

Primary Features

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

Interior

External

Number Of Buildings: 2
Parking Total: 44

Location

Country: US
MLS Area Major: 92105 - East San Diego

Additional

Days On Market: 13
List Agent State License: 01883437
Number Of Units Total: 48
Parcel Number: 4725311800

Financial

Cap Rate: 3.21
Gross Scheduled Income: 552636
Net Operating Income: 292981
Operating Expense: 243075

Zoning Info


Area Info


© 2022. The multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. All data, including but not limited to all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Last updated Thursday, June 30th, 2022.

Based on information from CARETS as of Thursday, June 30th, 2022 02:13:07 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.

Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Listing Agent: Benn Vogelsang, DRE #01883437 from South Coast Commercial, Inc. 619-226-6011
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Listing Agent: Benn Vogelsang, DRE #01883437 from South Coast Commercial, Inc. 619-226-6011
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Listing Agent: Benn Vogelsang, DRE #01883437 from South Coast Commercial, Inc. 619-226-6011

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