638-640 22nd St
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638-640 22nd St
4 Unit Apartment Building $1,350,000 ($337,500/Unit) 5.17% Cap Rate San Diego, CA 92102
Investment Highlights
- 1890 Victorian Complex
- 4 Units off Market Street and the highway
Executive Summary
638-40 22nd Street is a Historic Victorian Farmhouse in Sherman Heights. Located in the heart of Sherman Heights, one of San Diego's oldest and most storied neighborhoods, this 1895 Victorian 4plex stands as a testament the City's rich history. The original structure accommodates 3 units consisting of one 2 Bedroom and two 1 Bedrooms, each with their own patios, and in the basement you'll find a storage locker for each unit and common laundry machines. There is also a separate 1 bedroom cottage and all units are fenced in with a key-gated entry to the lovely, lush grounds. The foundation, plumbing and electrical were all recently redone as well as a termite clearance. Buyer to verify. The owner bills back the tenants for water and the units have new appliances. The Mills Act Paperwork has been gathered but not submitted. Buyer to verify.
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 | $1,350,000 | Apartment Style | Low Rise |
| Price Per Unit | $337,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 5.17% | Building Size | 2,239 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1890 |
| Price | $1,350,000 |
| Price Per Unit | $337,500 |
| Sale Type | Investment |
| Cap Rate | 5.17% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 2,239 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1890 |
Unit Amenities
- Balcony
- Washer/Dryer
Site Amenities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $2,325 | 500 - 600 |
| 1+1 | 3 | $1,798 | 739 |
1 of 1
Walk Score ®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 535-220-06 | Improvements Assessment | $502,086 (2024) |
| Land Assessment | $379,724 (2024) | Total Assessment | $881,810 (2024) |
PROPERTY TAXES
Parcel Number
535-220-06
Land Assessment
$379,724 (2024)
Improvements Assessment
$502,086 (2024)
Total Assessment
$881,810 (2024)
zoning
| Zoning Code | R4 (Residential) |
| R4 (Residential) |
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638-640 22nd St
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