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Browse More Listings in Multifamily For Sale, San Diego, CA or California

Multifamily Property For Sale

Fifth & Olive

2800-2808 Fifth Avenue / 430-468 Olive, San Diego, CA 92103

Prestigious Bankers Hill Investment Property

Price:
$1,749,000
No. Units:
11
Building Size:
6,741 SF
Price/Unit:
$159,000
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
2.5%
Cap Rate:
5%
Occupancy:
100%
No. Stories:
2
Year Built:
1940
Lot Size:
5,000 SF
Tax ID / APN #:
452.665.06.00
Find Out More...

Last Verified 10/12/2009 Listing ID 15270215

Highlights

Trophy Investment Property / Prestigious Bankers Hill Location
Tremendous Potential for Upside in Rents / Existing Rents are Below Market

Early Termination Clause in Existing Leases / Potential to Renegotiate with Existing Tenants - Great for Owner/User

Description

Fifth & Olive is an immaculate, pride of ownership, mixed-use property of distinction located in the prestigious, historic neighborhood of Bankers Hill. Excellent unit mix consisting of 4 residential units, 3 flexible commercial office suites, and 4 outstanding street retail spaces. A prime location and key walking neighborhood complete with a wealth of acclaimed restaurants, trendy boutiques, professional services and other life-style focused businesses. Residential units were completely refurbished a few short years ago; all have modern kitchens, in-unit laundry, hardwood floors, and excellent floorplans. The upstairs commercial suites are highly sought after by smaller, professional users. Long-term tenants; retail leases expire end of 2008 and February 2010. There is substantial upside rent potential. Excellent property for an owner/user/investor to consider. Property will be shown with accepted offer only. BROKERS OPEN 6/26 BETWEEN 9:30 & 1:00.

Bankers Hill, corner of Fifth Avenue and Olive Street - one block to famed Balboa Park, minutes to downtown, the San Diego Harbor and International Airport.

Financial Summary

Unit Mix Information

Actual
Year
2008
Scheduled Gross Income
$120,696
Effective Gross Income
$117,075
Operating Expenses
$29,250
Net Operating Income
$87,825
Pre-Tax Cash Flow
$87,825

Description	No. Units	Avg. Mo. Rent	Sq. Ft.
2br/1.5ba + Den Townhome	2	$1,850	1,328
2br/1.5ba Downstairs "Flat"	1	$1,750	1,151
1br/1ba Upstairs	1	$1,350	704
Upstairs Commercial Suites	3	$356	182
Street Retail	4	$548	255

Map of 2800-2808 Fifth Avenue / 430-468 Olive, San Diego, CA 92103 (San Diego County)

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Presented by

Willis Allen Real Estate

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Contact Listing Broker

Mimi McCoy (619) 459-1500

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Created 8/2/2007

Additional Information for 2800 5th Avenue, San Diego, CA 92103

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - Fifth & Olive

2800-2808 Fifth Avenue / 430-468 Olive, San Diego, CA, 92103