Auburn Apartments is a 45 unit apartment building with an excellent mix of 44 two-bedroom, 1 bath units and 1 three-bedroom, one-bath unit. The property features many recent improvements including exterior paint, low-maintenance landscaping and approximately 75% of units renovated. Rents will be increased on the majority of units by 9/1/15 between $1,125 and $1,275. Auburn Apartments presents a solid investment opportunity at cap rate of 5.7% with rent increases in place and as high as 6.19% at market.
This extremely well maintained property offers unique all 38 two-bedroom/two bath units with extremely generous floor plans ranging from approximately 950 square feet to 1,200 square feet in size. Interiors include air condition and heat, spacious walk-in closets*, kitchen pantry*, coat closet*, full equipped kitchens and additional outside storage. The property has benefited from approximately $400,000 dollars in recent capital improvements, including new roofs, exterior paint, low water use landscaping, resurfaced parking lot, and solar panels. As units' turnover, additional upside can be realized by further upgrading the unit interiors. Community amenities include a swimming pool with solar heating, gazebo, laundry facilities, barbeque, secured building and gated parking. The property is best appreciated by touring it in person. A drive-by does not tell the story - plus the entry is locked. Please contact me to set up a time to see a unit.
512-520 32nd St. offers an excellent opportunity to purchase an investment property in the rapidly improving submarket of San Diego known as Logan Heights. This mixed use property includes 7 residential units and a commercial space currently being rented by a church. The unit mix is ideal with one 2 bedroom/1 bath, and six 1 bedroom/1 bath units and there is ample on-site parking. Two of the 1 bedroom units are stand alone cottages and command a rent premium as a result and pay for all their utilities, including water. All windows on the entire property were replaced in the last few years and renovations have been done to about half of the units. Additional income can be generated from the on-site laundry along with the 2 garages and 2 storage containers that are on property. There is value to be added as all the current rents are significantly under market. The property has a great location with easy access to both the 94 and 15 freeways within minutes. Plus the property is walking distance to one of the main thoroughfares in Logan, Market St.
NORTH PACIFIC BEACH COTTAGES major renovations & better than new! Light, bright & airy! Granite counters, wood laminate floors, tile floors, all new kitchens & bathrooms! Opens onto central courtyard. Lighted ceiling fans throughout! Eating area off kitchen, all new kitchens with granite counters & brand new self-cleaning gas range/stove, new refrigerator, new dishwasher, new never-been-used designer cupboards & cabinets, new faucets, stainless sink. New greenhouse window over sink (2 units) lets you grow herbs or flowers! New bathrooms with beautiful new shower, sink & cabinet, flooring, window, fixtures & granite counters. In bedroom new ceiling fans, mirrored closet door, new window coverings. Fresh new paint throughout! Each unit opens onto a central park-like patio area which is shaded by an ancient Italian Stone Pine tree. 1466-1470 enjoy private back patios. The front garden is filled with organically grown lemon, orange, nectarine, avocado trees & a raspberry bush! New drip system for low water use. Many low water native plants & succulents. Banana tree. Sunset to dawn security lighting in parking area, throughout comple
3551 and 3555 Front Street includes a professional office building with nine suites as well as a 1 br house. On site parking for 11 cars, with wide alley access. Lush rear and side gardens. House renting for $2,145 per month and has a lease. The zoning MR-1000 allows for development of residential units for up to one unit per 1,000 square feet of property. With two parcels, the potential could accommodate up to 12 residential units. Pride of ownership property in Hillcrest. Victorian appeal; The Moore House exemplifies Queen Anne style architecture. Its exterior is adorned with Eastlake style ornamentation. Charming interiors with kitchen and basement, which is one of the suites. Rear entry with enclosed porch. Spacious open enjoyment of space. South west exposure on the high side of Front Street.
Completely remodeled duplex recently received Final Map for Twinhomes. No HOA (might be possible for healthcare-type facility) & No Mello Roos fees. Each Twinhome has 4 bedrooms & 3 baths on a quiet Cul-De-Sac corner lot near world renowned Lacosta Spa & numerous medical facilities. CC&R's but NO HOA fees open possiblities of healthcare type facility. NO Mello Roos fees. Terrific community for an investment property. Each twinhome sells for $675,000. Rare opportunity to Buy both twinhomes! Located across from a private Alzheimer-care home.
Pride of ownership units. Architecturally beautiful low rise apartments. Southern exposure on hill top. Vintage appeal; meticulously maintained. Three studios with one bath; one two story 2brm/1.5bath; seven 1br/1bath; two 2br/1bath. Varied features in each unit (patio, rear entry, Murphy bed, balcony). 5 parking spaces on alley; 6 garages, 5 parking spaces on Georgia St. Some tenants are very long term residents. Please do not disturb residents. Shown with accepted offer. Listing agent has dozens and dozens of interior photos, available to qualified buyers. This is a once in a generation opportunity to buy a classic building in one of the best areas of San Diego! CAP RATE ON PROJECTED = 5.75% GRM ON PROJECTED = 17.4
Welcome to the neighborhood! This high visibility, well maintained property overlooks Wabash Park and features clean, updated architectural elements. Unit mix is two 1 bedroom units upstairs (leases M-M), and a ~1,100 s.f. commercial space at street level (lease exp. 8/31/15). The shared upstairs covered patio space is perfect for entertaining. 3356 Lincoln has a hidden staircase leading to a 1 car garage underneath that could easily be used as another room (no curb cut). SDG&E almost finished placing wires underground. Easy, close freeway access. Walking distance (0.5 mile) to North Park restaurants, shops, and everything it has to offer. Great opportunity for an owner user to live upstairs and work downstairs. Definitely a neighborhood gem. All reasonable offers will be considered.
Extremely rare opportunity for an investor or owner occupier to buy an attractive, cash flowing, turn-key 4 plex in the increasingly sought after Imperial Beach community. Newly renovated 2bed/1.5bath spacious units with 4 garages. Upgraded kitchen with new bottom cabinets and new counter tops. New laminate flooring in bedrooms and white tile throughout units. All new dual pane windows. New exterior landscaping and interior paint. **Renovations just completed, two units rented at $1450, other two units are currently being marketed at $1,450, currently reviewing several applications. Income in financial details assumes fully rented and seller will deliver property fully occupied per buyers request.
Four-plex of three 2-bdrm units, one 3-bdrm unit, with complete rehab THIS year; -100% occupied; long-term tenants: the oldest, ELEVEN years; the newest, three years; -New exterior paint, new interior paint in all units; -New wood floors in all living rooms and many bedrooms; -Solid wood kitchen cabinets, re-stained, re-varnished; -New kitchen and bathroom counters; -Cement walkways and grounds power washed, acid washed to look new/clean; -Laundry room is redone, new washer and dryer; -NO deferred maintenance; -Drought-tolerant landscape in rear garden. -Convenient location to 805, 94 and 15 fwys; -This area is one of the better pockets in 92105; -Priced at $899,000, a 6.8% cap.