1027-1033 Wilbur Ave
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1027-1033 Wilbur Ave
7 Unit Apartment Building $3,495,000 ($499,286/Unit) 2.54% Cap Rate San Diego, CA 92109
Investment Highlights
- Walkable distance from Beach, shops, and restaurants
- Plenty of Storage and Parking available
- Remodeled in 2014
- Laundry on site
Executive Summary
Prime investment opportunity in the heart of North Pacific Beach! Just 3 blocks from the beach, and walking distance from the beloved shops and restaurants of the North PB neighborhood. This property offers 7 units, currently 100% occupied. Six 1BD/1BA apartment units, plus one 2BD/1BA charming house. The main house and 5 of the apartments were completely remodeled in 2014, with new kitchen cabinets, laminate flooring, new electrical and appliances. There is plenty of storage and parking available. The main house features an additional storage room or office off the master bedroom, a long driveway, and a private patio off the kitchen. There is outdoor, locking storage for the 6 apartments. Community, coin operated laundry for all units. Extremely well maintained and cared for over the years.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,495,000 | Apartment Style | Low Rise |
| Price Per Unit | $499,286 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 2.54% | Building Size | 3,200 SF |
| Gross Rent Multiplier | 28.37 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1958/2014 |
| Property Subtype | Apartment |
| Price | $3,495,000 |
| Price Per Unit | $499,286 |
| Sale Type | Investment |
| Cap Rate | 2.54% |
| Gross Rent Multiplier | 28.37 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 3,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1958/2014 |
Site Amenities
- Laundry Facilities
- Storage Space
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,335 | 360 |
| 2+1 | 1 | $3,500 | 830 |
1 of 1
Walk Score®
Walker's Paradise (90)
zoning
| Zoning Code | R3 |
| R3 |
1 of 16
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1027-1033 Wilbur Ave
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