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4326 50th St

8 Unit Apartment Building $1,800,000 ($225,000/Unit) 5.15% Cap Rate San Diego, CA 92115

Investment Highlights

  • (1) 2Bed/1Bath Townhome, (2) 1 Bed Lofts & (5) 1 Bed Units
  • New Roof/Exterior Paint/Landscaping
  • Market 10 GRM & 7.2% Cap Rate
  • Ample Parking, Most Units Remodeled, 1981 Construction

Executive Summary

4326 50th Street is an 8-unit complex in City Heights with plenty of tuck-under parking. The 5,194 square foot building is situated on a 6,250 square foot lot. There is one 2 Bedroom / 1 Bathroom townhome-style unit, two 1 Bedroom / 1 Bathroom loft units, and five 1 Bedroom / 1 Bathroom units. Some of the units have recently been upgraded. Select units have balconies. The property was built in 1981 and has large floor plans. There is an onsite laundry facility. The property has new exterior paint, a two year old roof, and has underwent recent wood repairs. The property is located in City Heights, close to the transit and shopping off El Cajon Blvd.
The property is located on a quiet residential street in the Teralta East submarket of City Heights just south of Talmadge. The 'Colina del Sol' neighborhood is named after the large park and recreation area that is a half mile walking distance away. It is located a few hundred feet from the shopping and transit on El Cajon Boulevard and blocks from the new retail center in Fairmount Village with El Super, Starbucks, Chase and Wells Fargo banks, as well as numerous restaurants. The City Heights Library and new Police Station are nearby. The College Area with the San Diego State University Campus is just 3 miles away as are the popular urban areas of Kensington, North Park, Hillcrest, and Normal Heights.
Socially and economically, Central San Diego has a high concentration of businesses and households. Businesses tend to be smaller and wider spread than to the north and east. Like other urban mesa neighborhoods north of Balboa Park, Central San Diego has a high rate of pedestrian activity, relative to the rest of San Diego. Central San Diego is located next to many of the major highways including the Interstates 8 and 15 with close access to the coast, beaches, business districts, downtown, and Mexico.
PLEASE DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS.

Attachments

4326 50th_OM

Financial Summary (Actual - 2023) 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 - -
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 $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
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 $1,800,000
Price Per Unit $225,000
Sale Type Investment
Cap Rate 5.15%
Gross Rent Multiplier 12.7
No. Units 8
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.14 AC
Building Size 5,194 SF
Average Occupancy 100%
No. Stories 2
Year Built 1981
Parking Ratio 2.12/1,000 SF
Opportunity Zone Yes

Unit Amenities

  • Balcony

Site Amenities

  • Laundry Facilities

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 1 $1,582 -
1+1 2 $1,412 -
1+1 5 $1,462 -
Walk Score ®
Very Walkable (87)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
471-291-19
Land Assessment
$362,180 (2024)
Improvements Assessment
$470,835 (2024)
Total Assessment
$833,015 (2024)

zoning

Zoning Code MR10B, San Diego
MR10B, San Diego
  • Listing ID: 33804725

  • Date on Market: 11/8/2024

  • Last Updated:

  • Address: 4326 50th St, San Diego, CA 92115

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