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4721 Felton St - 4721 Felton - 20 Unit Development 2 Unit Apartment Building Offered at $1,595,000 at a 3.28% Cap Rate San Diego, CA 92116
Investment Highlights
- Efficient and well designed project, setup for success
- Amazing "north of Adams" prime Normal Heights location
- Excellent unit mix suitable for area with efficient, spacious floor plans
Executive Summary
Finally a permit ready project that makes sense financially for a Buyer! GCs, Investors, Developers: look no further for your next - or first - ground up project. This expertly and efficiently designed 20 unit build is located in the cherished and revered "north of Adams" pocket of ever growing Normal Heights! Currently a duplex of 2BR 2BA generating income. The project is a 4 story build designed as a mostly wood frame product, avoiding costly construction costs that come with elevators, podiums, excessive steel etc. Units will feature modern, roomy and efficient floor plans and a unit mix perfect for this location. Contact the listing agent for more information, including 3rd party construction bid, property mgmt operation proforma and more!
Financial Summary (Pro Forma - 2027) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$634,884
|
$330.67
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$634,884
|
$330.67
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$206,464
|
$107.53
|
| Net Operating Income |
$428,420
|
$223.14
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income | |
|---|---|
| Annual | $634,884 |
| Annual Per SF | $330.67 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $634,884 |
| Annual Per SF | $330.67 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $206,464 |
| Annual Per SF | $107.53 |
| Net Operating Income | |
|---|---|
| Annual | $428,420 |
| Annual Per SF | $223.14 |
Property Facts
| Price | $1,595,000 | No. Units | 2 |
| Price Per Unit | $797,500 | Property Type | Multifamily |
| Sale Type | Investment | Building Size | 1,920 SF |
| Cap Rate | 3.28% | No. Stories | 1 |
| Gross Rent Multiplier | 22.6 | Year Built | 2003 |
| Price | $1,595,000 |
| Price Per Unit | $797,500 |
| Sale Type | Investment |
| Cap Rate | 3.28% |
| Gross Rent Multiplier | 22.6 |
| No. Units | 2 |
| Property Type | Multifamily |
| Building Size | 1,920 SF |
| No. Stories | 1 |
| Year Built | 2003 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 2 | $2,950 | 860 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
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4721 Felton St - 4721 Felton - 20 Unit Development
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