1518 Rosecrans Street

    San Diego, CA 92106
    • $6,300,000
    • STATUS: ACTIVE
    • ON SITE: 14 days
    • ID#: 190000343
    UPDATED: 56 min ago
    $6,300,000
    • 3
      BEDS
    • N/A
      ACRES
    • 2
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    The property consists of spacious one-bedroom and two-bedroom units, a laundry facility and beautifully landscaped grounds. Tenants benefit from the highly walkable location with a plethora of restaurants, grocers and community amenities all within walking distance. While the property is very well maintained, in-place rents are below market. Current ownership has renovated two out of the 18 units. A future investor has the opportunity to continue the unit renovations and further increase rents. The location of the site near the water drives the high demand for the residential apartments in the project which consistently maintains a 100% occupancy. The project is located in the heart of the prestigious Point Loma community. Point Loma is known for its views of the San Diego Bay and benefits from yachting marinas and the U.S. Navy for a local employment base.

    Monthly Payment Calculator

    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS, Inc. Licensed in the state of California.
    www.whisselrealty.com/homes/90540745

    1518 Rosecrans Street San Diego, CA 92106

    • Price: $6,300,000
    • Status: ACTIVE
    • Updated: 56 min ago
    • ID#: 190000343
    3
    Beds
    2
    Baths
    0
    ½ Baths
    N/A
    Acres
    Neighborhood:
    Point Loma (92106)
    County:
    San Diego
    Area:
    Point Loma (92106)
    Property Description
    The property consists of spacious one-bedroom and two-bedroom units, a laundry facility and beautifully landscaped grounds. Tenants benefit from the highly walkable location with a plethora of restaurants, grocers and community amenities all within walking distance. While the property is very well maintained, in-place rents are below market. Current ownership has renovated two out of the 18 units. A future investor has the opportunity to continue the unit renovations and further increase rents. The location of the site near the water drives the high demand for the residential apartments in the project which consistently maintains a 100% occupancy. The project is located in the heart of the prestigious Point Loma community. Point Loma is known for its views of the San Diego Bay and benefits from yachting marinas and the U.S. Navy for a local employment base.
    Exterior Features

    Construction FrameStucco Exterior Fully Landscaped Parking Spaces Roof Composition

    Interior Features

    Floor Coverings VinylWall To Wall Carpet Heating Wall Sq Ft Of Improvement 10800 Stories 2 Story Unit Furnished1 0 Unit Furnished2 0

    Property Features

    Actual Gross Scheduled Income 328200 Actual Operating Expense 141505 Assumable Finance 0 Financial Information Source Owner Gross Equity 3600000 Gross Multiplier 19.1 Have 18 Units Mandatory Remarks None Known Market Area Coastal South Monthly Rent Total 27350 Motive Want Cash Out Projected Cap Rate 4 Projected Gross Multiplier 16.0 Short Sale No Sq Ft Source Buyer To VerifyOwner Unit Number1 12 Unit Number2 6 Unit Rent Total1 17250 Unit Rent Total2 10100 Unit Rent1 1438 Unit Rent2 1683

    Listing provided courtesy of Kidder Mathews. Listing information © 2019 San Diego MLS, Inc.
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS, Inc. Licensed in the state of California.
     
    eXp Realty of California - CA DRE# 01878277
    3180 University Ave, Suite 600
    San Diego CA, 92104