4020 Texas St
10 Unit Apartment Building $3,700,000 ($370,000/Unit) 3.64% Cap Rate San Diego, CA 92104
INVESTMENT HIGHLIGHTS
- On-site parking
- Newer roof, plumbing and electrical
- Desirable location - 91 walk score.
- Open floor plans and some plans with private balcony
- Well maintained property with opportunity to do major improvements
EXECUTIVE SUMMARY
Well taken care of ten unit apartment building located in the highly coveted community of North Park San Diego, CA. The subject has seven 1-bed 1-bath units and two 2-bed, 1.5-bath units and one 2-bed, 2-bath unit. Units facing Texas street on the second floor have their own private balconies. 4020 Texas Street is situated in the highly desirable North Park community of San Diego, California. In the immediate vicinity, tenants enjoy a true urban living experience that this community is known for. Tenants enjoy an eclectic mix of boutiques and specialty stores, and renowned brands. Several major super markets, including Target, Vons, Sprouts, Barons are conveniently located within a mile of the property. Balboa Park is also located under a mile directly south of the property. This location is described as a walker's paradise with a 91/100 score.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $3,700,000 |
| Price Per Unit | $370,000 |
| Sale Type | Investment |
| Cap Rate | 3.64% |
| Gross Rent Multiplier | 16.59 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,866 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 1.46/1,000 SF |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Balcony
- Dishwasher
- Washer/Dryer
- Refrigerator
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | $1,434 | 650 |
| 2+1.5 | 2 | $2,066 | 850 |
| 2+2 | 1 | $2,095 | 1,000 |
1 of 1
Walk Score®
Walker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 445-572-21 | Total Assessment | $824,322 |
| Land Assessment | $314,427 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $509,895 | Tax Year | 2024 |
ZONING
| Zoning Code | RM 3-7 (Residential) |
