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4401 College Ave

San Diego, CA 92115
  • $1,595,000
  • STATUS: PENDING
  • ON SITE: 74 Days
  • ID#: 240020486
Pending
UPDATED: 78 min ago
$1,595,000
  • 8
    BEDS
  • N/A
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 2,912
    SQFT
  • $548
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1954
County:

School Ratings & Info

Description

For Sale: Fully renovated 4-unit apartment property. All units are comfortable 2 bed, 1 bath floor plans, featuring updated kitchens & baths, in-unit laundry, dishwashers, large common area/courtyard space, private storage closets and parking for 2 cars per unit. The property is located in close proximity to San Diego State University and approximately 1 mile to College Square. Total in place rents are $8,745 per month, average rent per unit of $2,186 per month. Proven market rents of $2,470 would allow for ~$300 in additional rental income for 3 units below market, with potential for additional utility reimbursement income. Unit 4405 is now vacant and being renovated by the Owner. This unit will be delivered 'turn-key' with projected rent of $2,500. Property is currently operated as traditional rental. However, student housing and short-term rental would be additional operating options. In-unit amenities include stacked washer/dryer, ceiling fans in each bedroom, stainless steel appliances, luxury vinyl plank flooring, wall AC & wall heater, private back patio for lower-level units, reserved tandem parking, and private storage. Community features include gated entrance, garden area, close proximity to SDSU, grocery store, and college area amenities. Property is professionally managed. Please contact Agent for further information and financials. Drive-by only, do not disturb tenants.

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San Diego MLS logo 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 © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.sandiegoareahomesforsale.co/homes/154342197
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4401 College Ave San Diego, CA 92115

  • Price: $1,595,000
  • Status: PENDING
  • On Site: 74 Days
  • Updated: 78 min ago
  • ID#: 240020486
8
Beds
4
Baths
0
½ Baths
N/A
Acres
2,912
SQFT
$548
$/SQFT
1954
Built
Neighborhood:
Sdsu
County:
San Diego
Area:
San Diego (92115)
Property Description
For Sale: Fully renovated 4-unit apartment property. All units are comfortable 2 bed, 1 bath floor plans, featuring updated kitchens & baths, in-unit laundry, dishwashers, large common area/courtyard space, private storage closets and parking for 2 cars per unit. The property is located in close proximity to San Diego State University and approximately 1 mile to College Square. Total in place rents are $8,745 per month, average rent per unit of $2,186 per month. Proven market rents of $2,470 would allow for ~$300 in additional rental income for 3 units below market, with potential for additional utility reimbursement income. Unit 4405 is now vacant and being renovated by the Owner. This unit will be delivered 'turn-key' with projected rent of $2,500. Property is currently operated as traditional rental. However, student housing and short-term rental would be additional operating options. In-unit amenities include stacked washer/dryer, ceiling fans in each bedroom, stainless steel appliances, luxury vinyl plank flooring, wall AC & wall heater, private back patio for lower-level units, reserved tandem parking, and private storage. Community features include gated entrance, garden area, close proximity to SDSU, grocery store, and college area amenities. Property is professionally managed. Please contact Agent for further information and financials. Drive-by only, do not disturb tenants.
Exterior Features

Exterior Stucco Fencing FullGate Roof Composition Unit1 Exclusive Use Yard No Unit2 Exclusive Use Yard No Unit3 Exclusive Use Yard No Unit4 Exclusive Use Yard No Units With Garages 0 Units With Patios 2

Interior Features

Cooling Wall/Window Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Half Baths Unit4 0 Stories 2 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1 Unit1 Laundry Hook Ups Yes Unit2 Laundry Hook Ups Yes Unit3 Laundry Hook Ups Yes Unit4 Laundry Hook Ups Yes Units With Cooling 4 Units With Dishwashers 4 Units With Dryers 4 Units With Fireplaces 0 Units With Range Oven 4 Units With Refrigerators 4 Units With Washers 4

Property Features

Actual Cap Rate 4.2 Age Restrictions N/K Annual Expense Actual 35977 Annual Expense Projected 35977 Association ID San Diego Association of REALTORS (SDAR) Buildings 1 Cfd Mello Roos Fee 0.0 Community SAN DIEGO Complex Park Apartment Cross Streets College AveAdelaide Ave Gross Rent Multiplier Actual 15.2 Gross Rent Multiplier Project 13.3 Gross Scheduled Income Actual 104940 Gross Scheduled Income Project 120000 Mandatory Remarks None Known Market Area Metro Uptown Monthly Total Fees 0 Net Operating Income Projected 79423 Other Fees 0.0 Other Income Actual 780 Projected Cap Rate 5.0 Projected Other Income 3120.0 Sales Restrictions N/K Security N/K Short Sale No Tenant Pays Cable TVElectricityGardenerGas/Propane Terms CashConventional Unit Number For Unit1 4401 Unit Number For Unit2 4403 Unit Number For Unit3 4405 Unit Number4 4407 Unit1 Deposit 1000 Unit1 Occupied Tenant Unit1 Projected Rent 2500.0 Unit1 Rent Actual 2470.0 Unit2 Deposit 1200 Unit2 Occupied Tenant Unit2 Projected Rent 2500.0 Unit2 Rent Actual 2115.0 Unit3 Deposit 0 Unit3 Occupied Tenant Unit3 Projected Rent 2500 Unit3 Rent Actual 0.0 Unit4 Deposit 1200 Unit4 Occupied Tenant Unit4 Projected Rent 2500 Unit4 Rent Actual 2045.0

San Diego MLS logo Listing provided courtesy of Kyle Carruthers of Kyle Carruthers, Broker: 949-547-8088. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo 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 © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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Steven G. Fraioli & Associates
13176 Midbluff Ave
San Diego CA, 92128