601-7 & 609-15 Stork St | 601 Stork St
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601-7 & 609-15 Stork St 601 Stork St
9 Unit Apartment Building $2,300,000 ($255,556/Unit) 7.60% Cap Rate San Diego, CA 92114
INVESTMENT HIGHLIGHTS
- 601-7 Stork St and 609-15 Stork are being offered together as a package
- Spanning two separate APNs, the combined lot size is an impressive 20,112 sq ft.
- 9 total units with 10 parking spaces
- Offers (8) 3-bedroom cottage-style units, ideal for tenant privacy and comfort.
EXECUTIVE SUMMARY
601-7 Stork St and 609-15 Stork are being offered together as a package, presenting a unique investment opportunity. The property features eight charming 3-bedroom, 1-bath cottage-style units, along with a 1-bedroom, 1-bath cottage. Spanning two separate APNs, the combined lot size is an impressive 20,112 sq. ft., with 10 dedicated parking spaces for tenants. Well-maintained over the years, the property offers great potential for renovation, allowing for rent increases to current market rates, and making it an attractive prospect for investors.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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 (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 Under Contract
| Price | $2,300,000 | Apartment Style | Garden |
| Price Per Unit | $255,556 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 7.60% | Building Size | 6,800 SF |
| Sale Condition | Bulk/Portfolio Sale | No. Stories | 1 |
| Gross Rent Multiplier | 8.6 | Year Built | 1965 |
| No. Units | 9 | Parking Ratio | 1.47/1,000 SF |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $2,300,000 |
| Price Per Unit | $255,556 |
| Sale Type | Investment |
| Cap Rate | 7.60% |
| Sale Condition | Bulk/Portfolio Sale |
| Gross Rent Multiplier | 8.6 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 6,800 SF |
| No. Stories | 1 |
| Year Built | 1965 |
| Parking Ratio | 1.47/1,000 SF |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Individual Locking Bedrooms
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $910.00 | - |
| 3+1 | 8 | $6,807 | - |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $224,070 (2024) | |
| Land Assessment | $170,700 (2024) | Total Assessment | $394,770 (2024) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$170,700 (2024)
Improvements Assessment
$224,070 (2024)
Total Assessment
$394,770 (2024)
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601-7 & 609-15 Stork St | 601 Stork St
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