4326 50th St
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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.
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.
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 | Building Class | C |
Price Per Unit | $225,000 | Lot Size | 0.14 AC |
Sale Type | Investment | Building Size | 5,194 SF |
Cap Rate | 5.15% | Average Occupancy | 100% |
Gross Rent Multiplier | 12.7 | No. Stories | 2 |
No. Units | 8 | Year Built | 1981 |
Property Type | Multifamily | Parking Ratio | 2.12/1,000 SF |
Property Subtype | Apartment | Opportunity Zone |
Yes
|
Apartment Style | Low Rise |
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 | - |
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Walk Score ®
Very Walkable (87)
PROPERTY TAXES
Parcel Number | 471-291-19 | Improvements Assessment | $470,835 (2024) |
Land Assessment | $362,180 (2024) | Total Assessment | $833,015 (2024) |
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 |
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4326 50th St
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