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    225-227 4th Avenue

    Chula Vista, CA 91910
    • $1,800,000
    • STATUS: ACTIVE
    • ON SITE: 18 days
    • ID#: 210010217
    $1,800,000
    • 6
      BEDS
    • 0.28
      ACRES
    • 5
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    We are pleased to offer for sale the Homes on 4th, a 2020 newly constructed and recently renovated five (5) unit apartment community located in the heart of Chula Vista, CA. The subject property is situated on two (2) contiguous parcels totaling approximately 12,246 square feet. The northerly parcel consists of one (1) 2020 newly constructed Three-Bedroom/Two-Bath house with attached two-car garage totaling approximately 1,900 square feet. The southernly parcel consists of four (4) upgraded One-Bedroom/One-Bath units totaling approximately 2,282 square feet Residents enjoy covered off-street parking and a private community feel. The offering benefits from a desirable and convenient location in San Diego's Southbay. Added value exists through market rent stabilization and converting the rear storage room into a laundry facility to further increase the investors return and add to the desirability of this project by future residents. Exterior improvements include all new paint, vinyl windows, new plumbing and sewer lines, electrical panel and upgraded landscaping. Interior improvements include upgraded tile kitchen flooring and fixtures, and all new tiled showers and upgraded bathroom vanities. A new owner will benefit from both the renovations and new construction house through lower future capital expenditures, lower turnover costs and the ability to offer higher quality improvements to prospective renters. PLEASE CONTACT NICK TREJO FOR ANY INTERESTS OR QUESTION AT 619-933-2672 OR NTREJO@ACRECOMMERCIAL.COM

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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.welcometosandiegorealestate.com/homes/116275494
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    225-227 4th Avenue Chula Vista, CA 91910

    • Price: $1,800,000
    • Status: ACTIVE
    • ID#: 210010217
    6
    Beds
    5
    Baths
    0
    ½ Baths
    0.28
    Acres
    Neighborhood:
    Chula Vista (91910)
    County:
    San Diego
    Area:
    Chula Vista (91910)
    Property Description
    We are pleased to offer for sale the Homes on 4th, a 2020 newly constructed and recently renovated five (5) unit apartment community located in the heart of Chula Vista, CA. The subject property is situated on two (2) contiguous parcels totaling approximately 12,246 square feet. The northerly parcel consists of one (1) 2020 newly constructed Three-Bedroom/Two-Bath house with attached two-car garage totaling approximately 1,900 square feet. The southernly parcel consists of four (4) upgraded One-Bedroom/One-Bath units totaling approximately 2,282 square feet Residents enjoy covered off-street parking and a private community feel. The offering benefits from a desirable and convenient location in San Diego's Southbay. Added value exists through market rent stabilization and converting the rear storage room into a laundry facility to further increase the investors return and add to the desirability of this project by future residents. Exterior improvements include all new paint, vinyl windows, new plumbing and sewer lines, electrical panel and upgraded landscaping. Interior improvements include upgraded tile kitchen flooring and fixtures, and all new tiled showers and upgraded bathroom vanities. A new owner will benefit from both the renovations and new construction house through lower future capital expenditures, lower turnover costs and the ability to offer higher quality improvements to prospective renters. PLEASE CONTACT NICK TREJO FOR ANY INTERESTS OR QUESTION AT 619-933-2672 OR NTREJO@ACRECOMMERCIAL.COM
    Exterior Features

    Carports 4 Construction Stucco Parking CarportsGarages Parking Spaces Total 6 Roof Composition Units With Garages 1

    Interior Features

    Cooling Wall/Window Floor Coverings VinylWall To Wall Carpet Heating Wall Sq Ft Of Improvement 4182 Stories 1 Story Units With Dishwashers 1 Units With Disposals 5 Units With Ranges 5 Units With Refrigerators 5

    Property Features

    Actual Cap Rate 3.55 Actual Cash Flow 10545 Actual Cash On Cash 1.30 Actual Gardener Expense 1200 Actual Gas And Electric 212 Actual Gross Operating Income 98591 Actual Gross Scheduled Income 101640.0 Actual License Expense 91 Actual Maintenance Expense 2500 Actual Mgr Expense 4930 Actual Operating Expense 34699 Actual Taxes Expense 20606 Actual Total Expense 34699 Actual Total Pi Pay 53347 Actual Trash Expense 1581 Actual Vacancy And Credit Loss 3049 Actual Water Sewer Expense 2079 Assumable Finance 990000 Buildings 2 Existing Financing Conventional Gross Equity 1038000 Gross Multiplier 17.71 Have Apartments Leased Apartments 5 Mandatory Remarks None Known Market Area South Bay Monthly Rent Total 8470 Motive Want Sell Projected Annual Pi Expense 53347 Projected Cap Rate 4.26 Projected Cash Flow 23390 Projected Cash On Cash 2.89 Projected Fl Ins Expense 1500 Projected Fl Ins Expense1 1500 Projected Gardener Expense 1200 Projected Gas And Electric 212 Projected Gross Multiplier 15.66 Projected Gross Operating Inc 112111 Projected Gross Scheduled Inc 114960 Projected License Expense 91 Projected Maintenance Expense 2500 Projected Manager Expense 5606 Projected Net Income 76736 Projected Operating Expense 35375 Projected Other Income 600 Projected Taxes Expense 20606 Projected Total Expense 35375 Projected Trash Expense 1581 Projected Vacancy And Credit Loss 3449 Projected Water And Sewer Expense 2079 Sq Ft Source OwnerOther/Remarks Tenant Pays Electric Y Tenant Pays Gas Y Terms CashCash To New Loan Unit Number1 1 Unit Number2 2 Unit Number3 1 Unit Number4 1 Unit Rent Total1 3000 Unit Rent Total2 2840 Unit Rent Total3 1320 Unit Rent Total4 1310 Unit Rent1 3000 Unit Rent2 1420 Unit Rent3 1320 Unit Rent4 1310 Unit Type ApartmentFourplexFree Standing

    Listing provided courtesy of Acre Investment Real Estate. 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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