5045 Woodyard Ave
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5045 Woodyard Ave
6 Unit Apartment Building $2,100,000 ($350,000/Unit) 5% Cap Rate La Mesa, CA 91942
Investment Highlights
- Completely renovated in 2017 with roof, windows, AC, washer/dryer in units, new kitchens and baths
- Strong rental demand for long term hold; opportunity for further rent increases
- Excellent location in west La Mesa on cul de sac
Executive Summary
5% CAP: Excellent renovated 6 unit apartment on cul de sac in west La Mesa (borders San Diego). Turn key with newer roof, AC, washer/dryers in units, gutted kitchens/baths and plenty of parking. Fantastic long term cash cow.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$147,516
|
$15.88
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$147,516
|
$15.88
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$41,214
|
$4.44
|
| Net Operating Income |
$106,302
|
$11.44
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $147,516 |
| Annual Per SF | $15.88 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $147,516 |
| Annual Per SF | $15.88 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $41,214 |
| Annual Per SF | $4.44 |
| Net Operating Income | |
|---|---|
| Annual | $106,302 |
| Annual Per SF | $11.44 |
Property Facts
| Price | $2,100,000 | Apartment Style | Low Rise |
| Price Per Unit | $350,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5% | Building Size | 3,456 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 15 | No. Stories | 2 |
| No. Units | 6 | Year Built/Renovated | 1975/2017 |
| Property Type | Multifamily | Parking Ratio | 2.6/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,100,000 |
| Price Per Unit | $350,000 |
| Sale Type | Investment |
| Cap Rate | 5% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 15 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,456 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1975/2017 |
| Parking Ratio | 2.6/1,000 SF |
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer
- Ceiling Fans
- Stainless Steel Appliances
- Tub/Shower
Site Amenities
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 576 - 616 |
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Walk Score ®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 470-111-34 | Improvements Assessment | $637,181 (2024) |
| Land Assessment | $455,130 (2024) | Total Assessment | $1,092,311 (2024) |
PROPERTY TAXES
Parcel Number
470-111-34
Land Assessment
$455,130 (2024)
Improvements Assessment
$637,181 (2024)
Total Assessment
$1,092,311 (2024)
zoning
| Zoning Code | R3, La Mesa |
| R3, La Mesa |
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Immobilier Funds
5045 Woodyard Ave
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