3053-69 Madison Avenue

    San Diego, CA 92116
    • $2,190,000
    • STATUS: SOLD
    • ON SITE: 281 days
    • ID#: 180039040
    Sold - 11/09/2018
    $2,190,000
    SOLD - 11/09/2018
    • 6
      BEDS
    • 0.16
      ACRES
    • 3
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    Well kept older 9 unit apartment property in North Park/University Heights. 5 garages with new roll up doors, front and back doors, on site laundry, and large owner storage. Long term tenants. Great area. Rents are low. Market cap rate is for bringing units to market rent without significant upgrades to the units. Greater potential from significant upgrading.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS, Inc. Licensed in the state of California.
    www.triolorealty.com/homes/85674860

    3053-69 Madison Avenue San Diego, CA 92116

    • Price: $2,375,000
    • Status: SOLD
    • Updated: 74 min ago
    • ID#: 180039040
    6
    Beds
    3
    Baths
    0
    ½ Baths
    0.16
    Acres
    Neighborhood:
    Normal Heights (92116)
    County:
    San Diego
    Area:
    Normal Heights (92116)
    Property Description
    Well kept older 9 unit apartment property in North Park/University Heights. 5 garages with new roll up doors, front and back doors, on site laundry, and large owner storage. Long term tenants. Great area. Rents are low. Market cap rate is for bringing units to market rent without significant upgrades to the units. Greater potential from significant upgrading.
    Exterior Features

    Parking Garages Units With Garages 5

    Interior Features

    Sq Ft Of Improvement 0 Units With Ranges 9 Units With Refrigerators 9

    Property Features

    Actual Cap Rate 2.12 Actual Cash Flow 66052 Actual Cash On Cash .025 Actual Gardener Expense 1500 Actual Gas And Electric 575 Actual Gross Operating Income 106888 Actual Gross Scheduled Income 111342 Actual License Expense 96 Actual Maintenance Expense 7080 Actual Mgr Expense 8999 Actual Operating Expense 56524 Actual Pest Control Expense 480 Actual Taxes Expense 2026 Actual Total Expense 29898 Actual Trash Expense 0 Actual Vacancy And Credit Loss 4454 Actual Water Sewer Expense 4843 Assumable Finance 0 Buildings 1 Gross Equity 2375000 Gross Multiplier 21.33 Have 9 Unit Apartment Building Leased Apartments 9 Mandatory Remarks None Known Market Area Metro Uptown Monthly Rent Total 8300 Motive Want Sell Other Income Actual 348 Other Income Amount 29 Other Income Source Laundry Present Loan 0 Projected Annual Pi Expense 36481 Projected Cap Rate 4.25 Projected Cash Flow 64224 Projected Cash On Cash 3.41 Projected Fl Ins Expense 2501 Projected Fl Ins Expense1 3150 Projected Gardener Expense 1500 Projected Gas And Electric 575 Projected Gross Multiplier 14.48 Projected Gross Operating Inc 157478 Projected Gross Scheduled Inc 164040 Projected License Expense 96 Projected Maintenance Expense 7080 Projected Net Income 100954 Projected Operating Expense 56524 Projected Other Income 9900 Projected Property Mgmt Expense 8999 Projected Taxes Expense 25312 Projected Total Expense 53835 Projected Trash Expense 0 Projected Vacancy And Credit Loss 6562 Projected Water And Sewer Expense 4846 Short Sale No Unit Number1 2 Unit Number2 6 Unit Number3 1 Unit Rent Total1 1850 Unit Rent Total2 5550 Unit Rent Total3 900 Unit Rent1 925 Unit Rent2 925 Unit Rent3 900

    Listing provided courtesy of Apartment Consultants, Inc.. Listing information © 2019 San Diego MLS, Inc.
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS, Inc. Licensed in the state of California.
     
    Keller Williams - Triolo Realty Group
    12780 High Bluff Drive, Suite 130
    San Diego CA, 92130