134-138 5th Ave
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134-138 5th Ave
7 Unit Apartment Building $2,699,000 ($385,571/Unit) 5.20% Cap Rate Chula Vista, CA 91910
Investment Highlights
- Fully turnkey units - renovated in 2022
- Ample parking with plenty of surface parking
- 3 separate structures on a massive 15,000 sq ft lot
Executive Summary
Introducing a recently renovated 7-unit property, updated in 2022. Each unit features new interior paint, modern kitchens with quartz countertops, and brand-new appliances. With 3 separate structures, tenants enjoy enhanced privacy and separation. Convenient on-site laundry adds to the ease of living. Situated on a massive 15,000 sq ft lot, there is ample parking for all residents. Ideally located near the 5 and 54 freeways, offering quick access to major routes. A great investment opportunity in a prime location!
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$239,196
|
$46.03
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$11,960
|
$2.30
|
| Effective Gross Income |
$227,236
|
$43.72
|
| Taxes |
$33,738
|
$6.49
|
| Operating Expenses |
$26,816
|
$5.16
|
| Total Expenses |
$60,554
|
$11.65
|
| Net Operating Income |
$166,682
|
$32.07
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $239,196 |
| Annual Per SF | $46.03 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $11,960 |
| Annual Per SF | $2.30 |
| Effective Gross Income | |
|---|---|
| Annual | $227,236 |
| Annual Per SF | $43.72 |
| Taxes | |
|---|---|
| Annual | $33,738 |
| Annual Per SF | $6.49 |
| Operating Expenses | |
|---|---|
| Annual | $26,816 |
| Annual Per SF | $5.16 |
| Total Expenses | |
|---|---|
| Annual | $60,554 |
| Annual Per SF | $11.65 |
| Net Operating Income | |
|---|---|
| Annual | $166,682 |
| Annual Per SF | $32.07 |
Property Facts
| Price | $2,699,000 | Apartment Style | Low Rise |
| Price Per Unit | $385,571 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 5.20% | Building Size | 5,197 SF |
| Gross Rent Multiplier | 12.8 | No. Stories | 2 |
| No. Units | 7 | Year Built/Renovated | 1969/2022 |
| Property Type | Multifamily | Parking Ratio | 1.21/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,699,000 |
| Price Per Unit | $385,571 |
| Sale Type | Investment |
| Cap Rate | 5.20% |
| Gross Rent Multiplier | 12.8 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 5,197 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1969/2022 |
| Parking Ratio | 1.21/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Yard
- Handrails
- Lawn
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+3 | 1 | $3,595 | - |
| 2+1 | 2 | $2,445 | - |
| 1+1 | 4 | $2,088 | - |
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Walk Score ®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | 565-192-18 | Total Assessment | $1,794,690 |
| Land Assessment | $988,380 | Annual Taxes | $33,738 ($6.49/SF) |
| Improvements Assessment | $806,310 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
565-192-18
Land Assessment
$988,380
Improvements Assessment
$806,310
Total Assessment
$1,794,690
Annual Taxes
$33,738 ($6.49/SF)
Tax Year
2024
zoning
| Zoning Code | R3, Chula Vista |
| R3, Chula Vista |
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134-138 5th Ave
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