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3845 Chamoune Ave

San Diego, CA 92105
  • $5,150,000
  • STATUS: ACTIVE
  • ON SITE: 15 Days
  • ID#: 210030993
UPDATED: 41 min ago
$5,150,000
  • 6
    BEDS
  • 0.29
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

We are pleased to offer for sale 3845 Chamoune Avenue, a 22 unit apartment complex located in the heart of City Heights. The property consists of 22 legal units: 20 (1br/1ba) apartments, 1 (2br/2ba) apartment and 1 (3br/1ba) apartment. Over the recent past, Ownership has performed many capital improvements which include, but are not limited to, new exterior stucco/paint, new windows (select units), roof work, full interior remodel of 17 units, etc. The property is located in the center of San Diego County and is extremely convenient to all San Diego has to offer both on foot and via car/public transportation. Other amenities include ample off street parking and laundry facilities (leased). This is a rare opportunity in a HOT market to purchase a building and obtain a new first trust deed with close to 35% down and still cash flow well...There is also room to push rents throughout. Please call LA for additional information and/or questions/inquiries...

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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 © 2021 San Diego MLS, Inc. Licensed in the state of California.
www.themarellygroup.com/homes/123183333
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3845 Chamoune Ave San Diego, CA 92105

  • Price: $5,150,000
  • Status: ACTIVE
  • On Site: 15 Days
  • Updated: 41 min ago
  • ID#: 210030993
6
Beds
4
Baths
0
½ Baths
0.29
Acres
Neighborhood:
East San Diego (92105)
County:
San Diego
Area:
East San Diego (92105)
Property Description
We are pleased to offer for sale 3845 Chamoune Avenue, a 22 unit apartment complex located in the heart of City Heights. The property consists of 22 legal units: 20 (1br/1ba) apartments, 1 (2br/2ba) apartment and 1 (3br/1ba) apartment. Over the recent past, Ownership has performed many capital improvements which include, but are not limited to, new exterior stucco/paint, new windows (select units), roof work, full interior remodel of 17 units, etc. The property is located in the center of San Diego County and is extremely convenient to all San Diego has to offer both on foot and via car/public transportation. Other amenities include ample off street parking and laundry facilities (leased). This is a rare opportunity in a HOT market to purchase a building and obtain a new first trust deed with close to 35% down and still cash flow well...There is also room to push rents throughout. Please call LA for additional information and/or questions/inquiries...
Exterior Features

Construction Stucco Exterior None Parking Spaces Parking Spaces Total 19 Roof Composition Units With Garages 0

Interior Features

Cooling None Floor Coverings Other/Remarks Floors Other/Remarks Heating Wall Laundry Leased Sq Ft Of Improvement 9350 Stories 2 Story Unit Furnished1 No Unit Furnished2 No Unit Furnished3 No

Property Features

Actual Cap Rate 5.0 Actual Cash On Cash 4.5% Actual Gross Scheduled Income 402720.0 Actual Operating Expense 133856 Actual Vacancy And Credit Loss 12082 Assumable Finance 0 Buildings 2 Complex Features None Existing Financing Other/Remarks Financial Information Source Other/Remarks Gross Equity 1800000 Gross Multiplier 12.8 Have Units Mandatory Remarks None Known Market Area Metro Uptown Monthly Rent Total 33030 Motive Want 1031 Other Income Amount 530 Projected Cap Rate 5.8 Projected Cash On Cash 6.9% Projected Gross Multiplier 11.5 Projected Gross Scheduled Inc 449100 Projected Net Income 299452 Projected Operating Expense 136175 Projected Vacancy And Credit Loss 13473 Short Sale No Special Other/Remarks Sq Ft Source Tax Record Terms CashCash To Existing LoanCash To New LoanOther/Remarks Unit Number1 20 Unit Number2 1 Unit Number3 1 Unit Rent Total1 29405 Unit Rent Total2 1625 Unit Rent Total3 2000 Unit Rent1 $1475-$1525 Unit Rent2 1625 Unit Rent3 2000 Unit Type Apartment

Listing provided courtesy of The Browar Group. Listing information © 2021 San Diego MLS Inc. Source: SDMLS
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 © 2021 San Diego MLS, Inc. Licensed in the state of California.
 
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The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003