This Multifamily Property is no longer advertised on LoopNet.com.
1915-1921 4th Ave
Multifamily Property For Sale
·
11 Units
INVESTMENT HIGHLIGHTS
4.00% ProForma CAP Rate / Offering actual CAP Rate of 2.83% / Major upside in rental income / 0.115 acre lot
Studio leasing at an average rate of $1,800/month in Bankers Hill / 1 Bedroom units are leasing at an average rate of +$2,400/month in Bankers Hill
There are several notable developments in the San Diego area, particularly near Bankers Hill, and some linked to SDSU (San Diego State University).
First time to the market in 25+ years / Excellent unit mix of studios, 1 bedroom units and 2 bedroom units.
2 Bedroom units are leasing at an average rate of $2,800/month in Bankers Hill
Redevelopment Potential / Multifamily Options / Opportunities to utilize San Diego’s density bonus program to build larger projects.
PROPERTY FACTS
No. Units
11
Property Type
Multifamily
Property Subtype
Apartment
Apartment Style
Low-Rise
Building Class
C
Lot Size
0.11 AC
Building Size
6,700 SF
Average Occupancy
95%
No. Stories
3
Year Built
1940
Parking Ratio
0.36/1,000 SF
Zoning
CV-4, San Diego
AMENITIES
UNIT AMENITIES
Balcony Fireplace High Speed Internet Access
Tub/Shower Walk-In Closets
SITE AMENITIES
UNIT MIX INFORMATION
DESCRIPTION
NO. UNITS
AVG. RENT/MO
SF
Studios
2
$1,675
-
1+1
7
$2,098
-
2+1
2
$2,475
-
PROPERTY TAXES
Parcel Number
533-292-05
Improvements Assessment
$391,354
Land Assessment
$273,943
Total Assessment
$665,297
