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1609-1623 E 10th St 8 Unit Apartment Building $1,975,000 ($246,875/Unit) 5.04% Cap Rate National City, CA 91950
Investment Highlights
- Desirable unit mix
- Several property upgrades
- Strong in-place income
Executive Summary
8 maintained and performing multifamily units offering a desirable unit mix of one and two bedroom units; a strong in-place cap rate; and potential to increase the income. The property consists of four one bedroom units and four two-bedroom, one bath units. The property includes many upgrades including new electrical panels, new vinyl windows, and interior upgrades. Ample on-site parking. Convenient location near shopping, transit and major employment centers. Walkable to Plaza Blvd shopping district and bus routes. Bus provides access to 8th Street Transit Center providing providing access to most of the county. Further, the location offers convenient access to major employment centers such as Paradise Valley Hospital and medical services, Mile of Cars, Gaylord Resort and Convention Center, and Naval Base San Diego. Please drive by without disturbing the tenants. Contact listing agent for the Offering Memorandum.
Property Facts
| Price | $1,975,000 | Apartment Style | Low-Rise |
| Price Per Unit | $246,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 5.04% | Building Size | 4,894 SF |
| Gross Rent Multiplier | 12 | Average Occupancy | 99% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.84/1,000 SF |
| Zoning | RM-3-High Density Res - multiple residential | ||
| Price | $1,975,000 |
| Price Per Unit | $246,875 |
| Sale Type | Investment |
| Cap Rate | 5.04% |
| Gross Rent Multiplier | 12 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 4,894 SF |
| Average Occupancy | 99% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.84/1,000 SF |
| Zoning | RM-3-High Density Res - multiple residential |
Amenities
Unit Amenities
- Balcony
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 500 |
| 2+1 | 4 | - | 800 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 557-190-29 | Improvements Assessment | $808,239 |
| Land Assessment | $480,737 | Total Assessment | $1,288,976 |
Property Taxes
Parcel Number
557-190-29
Land Assessment
$480,737
Improvements Assessment
$808,239
Total Assessment
$1,288,976
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1609-1623 E 10th St
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