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

Multifamily Property For Sale

Island Avenue Apartments

1846 Island Avenue, San Diego, CA 92102

Price:
$1,495,000
No. Units:
18
Building Size:
9,600 SF
Price/Unit:
$83,055.56
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
2.5%
Cap Rate:
7.70%
Gross Rent Multiplier:
10
Occupancy:
100%
No. Stories:
3
Lot Size:
5,001 SF
Tax ID / APN #:
535-190-19-00
Find Out More...

Last Verified 11/13/2009 Listing ID 16446167

Highlights

23% Operating Expenses (Actual)!
7.7% CAP Rate (Actual)!
75% LTV Financing Available - 5.5%!

Excellent Cash Flow!
Many Upgraded & Remodeled Units!
Be Creative-Seller Wants Exchange!

Description

Stable property, always rented with waiting list. Excellent investment cash flow. Property features include newer roof (2004), repainted (2005), copper plumbing & upgraded wiring. Individual utility meters all units. Laundry equipment is owned generating appx. $200/mo. Many units remodeled (laminate flooring, kitchen cabinets, blinds, etc.). Property is Free & Clear.

I-5 South to Imperial Avenue. Panoramic view of downtown San Diego.

Financial Summary

Unit Mix Information

Debt & Equity Information

Actual
Year
2008
Scheduled Gross Income
$149,330
Operating Expenses
$34,404
Net Operating Income
$114,936

Description	No. Units	Avg. Mo. Rent	Sq. Ft.
Studio/1BA	12	$655	500
1BR/1BA	6	$730	600

Map of 1846 Island Avenue, San Diego, CA 92102 (San Diego County)

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Presented by

Pacific Investment Properties

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Contact Listing Broker

Peter Edelmuth (760) 431-7700

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Created 10/26/2009

Additional Information for 1846 Island Avenue, San Diego, CA 92102

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 1 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 - Island Avenue Apartments

1846 Island Avenue, San Diego, CA, 92102