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    3770 40th Street

    San Diego, CA 92105
    • $2,400,000
    • STATUS: Active
    • ON SITE: 211 days
    • ID#: 200009027
    UPDATED: 24 min ago
    $2,400,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Commercial
    County:

    School Ratings & Info

    Description

    Pleased to present for sale this 10 Unit Garden Style Apartment Building built in 1986 and located in the high demand Cherokee Point Rental Community of San Diego, CA. The subject property boasts convenient access to the 8, 15 and 805 Freeways. The property sits adjacent to the 15 Freeway but with the elevation the freeway traffic is practically muted.. The unit mix comprises eight (8) spacious 1BR/1BA units and two 2BR/1BA units. All of the units have been upgraded to some degree with modern flooring, cabinets, counter tops and windows. Seller is in the process of installing a new roof as well. A new Investor will be taking possession of a very well maintained building with little to no differed maintenance. With the new rent control bill a new owner will still be able to raise rents by more than 7% per year thus continuing to improve the cash on cash return for the investment. Currently Rents are about 13% below market.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-21T07:26:54.69. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Camargo & Wilson Realty Team | Realty ONE Group Southwest. Licensed in the State of California, USA.

    www.tophomefinders.com/homes/103469636
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    3770 40th Street San Diego, CA 92105

    • Price: $2,400,000
    • Status: Active
    • Updated: 24 min ago
    • ID#: 200009027
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    County:
    San Diego
    Property Description
    Pleased to present for sale this 10 Unit Garden Style Apartment Building built in 1986 and located in the high demand Cherokee Point Rental Community of San Diego, CA. The subject property boasts convenient access to the 8, 15 and 805 Freeways. The property sits adjacent to the 15 Freeway but with the elevation the freeway traffic is practically muted.. The unit mix comprises eight (8) spacious 1BR/1BA units and two 2BR/1BA units. All of the units have been upgraded to some degree with modern flooring, cabinets, counter tops and windows. Seller is in the process of installing a new roof as well. A new Investor will be taking possession of a very well maintained building with little to no differed maintenance. With the new rent control bill a new owner will still be able to raise rents by more than 7% per year thus continuing to improve the cash on cash return for the investment. Currently Rents are about 13% below market.
    Exterior Features

    Lot Size Units Square Feet

    Property Features

    Cap Rate 4.27 Country Us Gross Scheduled Income 156020.00 Net Operating Income 102560.00 Operating Expense 53460.00 Other Income1 500.00 Property Sub Type Commercial/Residential Total Monthly Rent 12960 Zoning R-3 Rm

    Listing provided courtesy of Thomas Mccartin of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-21T07:26:54.69. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Camargo & Wilson Realty Team | Realty ONE Group Southwest. Licensed in the State of California, USA.

     
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    Camargo & Wilson Realty Team | Realty ONE Group Southwest
    41463 Margarita Road, Suite 100
    Temecula CA, 92591