Description
DRIVE BY ONLY, DO NOT DISTURB THE TENANTS. ProForma CAP Rate of 7.28% With a ProForma GRM of 7.93. Current CAP Rate of 6.01% with current GRM of 8.59. ProForma CAP Rate is based on leveling off under market rents. Huge upside in under market rents. Rental comparable illustrates 97% occupancy area. Property has onsite management. Property is Currently Configured as 11 Units, With (1) Non- Conforming Unit. Value-add Opportunity Though Leasing Out This Currently Unused Space. Buyer to Verify Feasibility During Their Inspection. Tremendous Upside Through Leasing Out Vacant Space at Market Rent. Attractive Unit Mix of; (1) two-bedroom unit, (4) one- bedroom units, (6) studio and (1) NC studio units. The current ownership focus has been on quality improvements of the property. Laundry Space is Currently Not Being Utilized. Investor Has an Opportunity to Add Passive Monthly Income and Add Another Tenant Amenity. Large Lot With Ample Onsite Parking. Fenced Lot on the East Side Of The Property Has a Potential For Future Development of Additional Income Producing Units or Increased Onsite Parking. Buyer to Verify Feasibility During Their Inspection. DRIVE BY ONLY, DO NOT DISTURB THE TENANTS. ProForma CAP Rate of 7.28% With a ProForma GRM of 7.93. Current CAP Rate of 6.01% with current GRM of 8.59. ProForma CAP Rate is based on leveling off under market rents. Huge upside in under market rents. Rental comparable illustrates 97% occupancy area. Property has onsite management. Property is Currently Configured as 11 Units, With (1) Non- Conforming Unit. Value-add Opportunity Though Leasing Out This Currently Unused Space. Buyer to Verify Feasibility During Their Inspection. Tremendous Upside Through Leasing Out Vacant Space at Market Rent. Attractive Unit Mix of; (1) two-bedroom unit, (4) one- bedroom units, (6) studio and (1) NC studio units. The current ownership focus has been on quality improvements of the property. Laundry Space is Currently Not Being Utilized. Investor Has an Opportunity to Add Passive Monthly Income and Add Another Tenant Amenity. Large Lot With Ample Onsite Parking. Fenced Lot on the East Side Of The Property Has a Potential For Future Development of Additional Income Producing Units or Increased Onsite Parking. Buyer to Verify Feasibility During Their Inspection.
-
3BEDS
-
0.45ACRES
-
0BATHS
-
01/2 BATHS
School Ratings & Info
Description
DRIVE BY ONLY, DO NOT DISTURB THE TENANTS. ProForma CAP Rate of 7.28% With a ProForma GRM of 7.93. Current CAP Rate of 6.01% with current GRM of 8.59. ProForma CAP Rate is based on leveling off under market rents. Huge upside in under market rents. Rental comparable illustrates 97% occupancy area. Property has onsite management. Property is Currently Configured as 11 Units, With (1) Non- Conforming Unit. Value-add Opportunity Though Leasing Out This Currently Unused Space. Buyer to Verify Feasibility During Their Inspection. Tremendous Upside Through Leasing Out Vacant Space at Market Rent. Attractive Unit Mix of; (1) two-bedroom unit, (4) one- bedroom units, (6) studio and (1) NC studio units. The current ownership focus has been on quality improvements of the property. Laundry Space is Currently Not Being Utilized. Investor Has an Opportunity to Add Passive Monthly Income and Add Another Tenant Amenity. Large Lot With Ample Onsite Parking. Fenced Lot on the East Side Of The Property Has a Potential For Future Development of Additional Income Producing Units or Increased Onsite Parking. Buyer to Verify Feasibility During Their Inspection. DRIVE BY ONLY, DO NOT DISTURB THE TENANTS. ProForma CAP Rate of 7.28% With a ProForma GRM of 7.93. Current CAP Rate of 6.01% with current GRM of 8.59. ProForma CAP Rate is based on leveling off under market rents. Huge upside in under market rents. Rental comparable illustrates 97% occupancy area. Property has onsite management. Property is Currently Configured as 11 Units, With (1) Non- Conforming Unit. Value-add Opportunity Though Leasing Out This Currently Unused Space. Buyer to Verify Feasibility During Their Inspection. Tremendous Upside Through Leasing Out Vacant Space at Market Rent. Attractive Unit Mix of; (1) two-bedroom unit, (4) one- bedroom units, (6) studio and (1) NC studio units. The current ownership focus has been on quality improvements of the property. Laundry Space is Currently Not Being Utilized. Investor Has an Opportunity to Add Passive Monthly Income and Add Another Tenant Amenity. Large Lot With Ample Onsite Parking. Fenced Lot on the East Side Of The Property Has a Potential For Future Development of Additional Income Producing Units or Increased Onsite Parking. Buyer to Verify Feasibility During Their Inspection.
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 © 2023 San Diego MLS, Inc. Licensed in the state of California.