4459 Fanuel Street

    San Diego, CA 92109
    • $6,995,000
    • STATUS: PENDING
    • ON SITE: 171 days
    • ID#: 180028559
    Pending
    UPDATED: 61 min ago
    $6,995,000
    • 1
      BEDS
    • N/A
      ACRES
    • 1
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    4459 Fanuel Street is a master leased and fully renovated 17 unit property located in the heart of Pacific Beach in San Diego. This turnkey asset is comprised of 17 beautifully renovated studio apartments. The property has a well landscaped courtyard, 9 off street parking spaces, a single car garage, and on-site laundry. Previously operated as a vacation rental apartment complex, in April of 2017 the mental health company, Solara Health, signed a master net lease for the entire complex to provide a residence and on-site care facility to their clients. Solara Health has built out their office and treatment center on Garnet Avenue located just around the corner from the subject property. In addition to having their offices just a 40 yard walk from the subject property, Solara Health has been using large amounts of capital to improve the property. Currently, Solara health is on a 3 year lease that commenced April of 2017 with two (3) year options and rent increases of 3% every year.

    Monthly Payment Calculator

    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 © 2018 San Diego MLS, Inc. Licensed in the state of California.
    www.triolorealty.com/homes/84034934

    4459 Fanuel Street San Diego, CA 92109

    • Price: $6,995,000
    • Status: PENDING
    • Updated: 61 min ago
    • ID#: 180028559
    1
    Beds
    1
    Baths
    0
    ½ Baths
    N/A
    Acres
    Neighborhood:
    Pacific Beach (92109)
    County:
    San Diego
    Area:
    Pacific Beach (92109)
    Property Description
    4459 Fanuel Street is a master leased and fully renovated 17 unit property located in the heart of Pacific Beach in San Diego. This turnkey asset is comprised of 17 beautifully renovated studio apartments. The property has a well landscaped courtyard, 9 off street parking spaces, a single car garage, and on-site laundry. Previously operated as a vacation rental apartment complex, in April of 2017 the mental health company, Solara Health, signed a master net lease for the entire complex to provide a residence and on-site care facility to their clients. Solara Health has built out their office and treatment center on Garnet Avenue located just around the corner from the subject property. In addition to having their offices just a 40 yard walk from the subject property, Solara Health has been using large amounts of capital to improve the property. Currently, Solara health is on a 3 year lease that commenced April of 2017 with two (3) year options and rent increases of 3% every year.
    Interior Features

    Sq Ft Of Improvement 6608

    Property Features

    Actual Cap Rate 5.39 Actual Gross Scheduled Income 420240 Actual Operating Expense 43124.43 Assumable Finance 0 Gross Equity 0 Gross Multiplier 0 Have N/A Mandatory Remarks None Known Market Area Coastal South Motive Want Cash Out Projected Cap Rate 5.57 Projected Gross Scheduled Inc 432847.20 Unit Number1 17 Unit Rent1 2060

    Listing provided courtesy of Marcus & Millichap. Listing information © 2018 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 © 2018 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