Marcus & Millichap is pleased to offer for sale, 333 North Juniper Street, an 18-unit apartment complex located in Escondido, California. Built in 1962, the subject property is situated on 0.35 acres. The property is comprised of eighteen, one-bedroom/one-bath units totaling approximately 7,506 rentable square feet. The complex consists of a two-story wood frame and stucco building, with a concrete slab foundation and a flat roof. Residents also enjoy garages and covered parking. This property is an opportunity for an investor to purchase a solid investment in a booming rental location. The new owner will enjoy the security of having the property situated near comparable apartment complexes, local shopping and restaurants. With upside in rents, this offering is perfect for a long-term investor seeking a pride of ownership property.
Rare find. A detached commercial storefront with two detached homes each are 1 bd. 1 ba, 500sf with private backyards. The houses each have a new roof, new paint, hardwood floors, recently renovated, nicely landscaped and show very well. The store rents for $2,060, one home rents for $850 and the other for $895. Additionally there is a billboard sign that rents for $400 a month. Very easy to rent.
Marcus & Millichap is pleased to present, The Wilsonian Hotel, a 36-unit complex located at 1545 2nd Avenue, in Downtown San Diego. Built in 1913, the property features furnished loft apartments (select units have private bathrooms), with on-site laundry facilities and a community kitchen. This property is an opportunity for an investor to purchase a solid investment in a strong rental submarket. The new owner will enjoy the security of having the property situated near local shopping and restaurants, endless employment opportunities, as well as having easy access to Interstate 5 and Highway 163. This offering is perfect for a long-term investor seeking a pride of ownership multifamily investment.
Kenora Terrace is well-located within a single-family residential neighborhood near multiple retail centers, schools and major freeways. Built in 1979, 87% of the homes are 2-bedroom units and 13% are 3-bedroom units, a distinct advantage in this family-oriented community where competitors have a higher concentration of one bedroom units. With a very sizeable gap between rents at Kenora Terrace and competing properties of similar quality, significant value can be added by increasing rents to market, as well as through a comprehensive program of interior upgrades (11 units have only been partially renovated to date). In addition, new ownership should benefit from continuing strong apartment fundamentals in a submarket which has enjoyed historically low vacancies and limited new construction. Reis predicts rents in the submarket to grow nearly 14% through 2017, while vacancy is projected to average 1.4% per year over the same period. Price $6,210,000 Price per unit $135,000 Price per SF $153 IN-PLACE CAP RATE 5.3% MARKET RENT CAP RATE 6.1% FULLY-RENOVATED CAP RATE 6.7% In-place GRM 11.20 Market rent GRM 10.32 Fully-renovated GRM 9.80
Amazing home and two units at 4462 Arch Street (University Heights) The main home is perfect for owner, 2 bedroom features cherry wood cabinetry and granite kitchen and bath.The home has been completely updated and is cozy. Property is on a very quiet street and offers a sanctuary for long-term tenants or simplify your life by living in the front house while enjoying solid income on the back units. Property is a couple blocks to Park and very close to Trader Joes and neighborhood shopping centers. Very close to 163 and many San Diego attractions. The home and units have been tastefully redone and are very charming. The home and units units boast views of canyon. There is plenty of hardscaped areas to enjoy parties. Great neighborhood and people! Rents( each unit is a two bedroom): Unit 1: 856SF $2,400 ( owner occupied) Unit 2: 800SF $1,500 Unit 3: 700SF $1,500 *tax records show 5bedrooms total
Auburn Hills was built in 1993 and has seventeen (17) units of which almost 50% have been renovated with new tile, counters and flooring. It is a two story apartment building with under building parking secured by motorized gate. The property is impeccably maintained by the current owner and is an opportunity for an investor to acquire a turn-key property. There is also a fantastic opportunity to assume the loan which has a rate of 4.78% with over 8 years left 25 year amortization. This building is situated on .49 acres and features a desirable unit mix of twelve (12) 2Bdr/1.5Bath units and five (5) 3Bdr/1.5Bath + loft units totaling 13,700 rentable square feet. Additionally, the property has on-site laundry facilities, and a subterranean garage. The property has a gated security entrance and the units have private balconies. In addition, low vacancy rates throughout central San Diego will continue to put pressure on apartment demand and rental rates. This investment offering has tremendous upside potential for the investor who wants to capitalize on all the benefits that the booming rental location has to offer.
Bread and butter 13 Unit property mix of 2BR and 3BR --- FOR MORE INFORMATION GO TO ATTACHMENTS AND FOLLOW LINK TO REGISTER AND DOWNLOAD CA AND DETAILED MARKETING PACKAGE. -- DO NOT GO ON PROPERTY -- DO NOT CONTACT TENANTS OR MANAGER -- PROPERTY WILL BE SHOWN WITH ACCEPTED OFFER ONLY --
583-585 Melba Road was built in 1964 and consists of one detached, two story duplex, plus a non conforming unit. The unit mix is comprised of one three bedroom/one bath unit, one two bedroom/one bath unit, and one one bedroom/one bath non conforming unit. Two of the units have fireplaces and the property has a laundry area that is used by the residents for storage.
Marcus & Millichap is pleased to present a 10-unit garden-style apartment complex located at 4065 Wightman Street in the subdivision known as City Heights in San Diego, California. Built in 1979, this well maintained property is located in one of San Diego's most stable and in-demand rental markets. The historical vacancy of the surrounding area is less than four-percent. The property is located within walking distance to the newer City Heights Urban Village and Recreation Center. Also within walking distance are several schools and churches, as well as shops along University Avenue and El Cajon Boulevard. The property has convenient access to several public transportation lines as well as Interstates 15, 805, 94 and 8. The vacancy forecast for the area is below four-percent and rents are expected to continue to climb. San Diego has one of the nation's highest affordability gaps ensuring the need for rental housing far into the future. THE PROPERTY IS OFFERED FOR SALE ALONG WITH 7 UNITS LOCATED @ 4522 ALTADENA AVENUE.
Marcus & Millichap is pleased to present a seven-unit garden-style apartment complex located at 4524 Altadena Avenue in the subdivision known as Talmadge in San Diego, California. Built in 1959, this well maintained property is located in one of San Diego's most stable and in-demand rental markets. The historical vacancy of the surrounding area is less than three-percent. The property is located within walking distance to the shops and restaurants along El Cajon Boulevard. In addition, there are several churches and schools in the neighborhood. This property has convenient access to several public transportation lines as well as the 15, 8 and 94 Interstates. The property is well maintained by long-term ownership. The unit mix consists of one separate one-bedroom/one-bath house; four, one-bedroom/one-bath and two, two-bedroom/one-bath units. THE PROPERTY IS BEING OFFERED ALONG WITH 4065 WIGHTMAN AVENUE.