7205 Amherst St
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7205 Amherst St
4 Unit Apartment Building $1,999,999 ($500,000/Unit) 4.90% Cap Rate La Mesa, CA 91942
Investment Highlights
- NEW CONSTRUCTION with Luxury Finishes & Amenities
- All units provide In-Unit Laundry
- Self Manage to achieve 5 cap return - year 1
- 2 Detached Single Family Dwellings + 2 single level apartments
- Owner Occupant Buyers Welcome VA / FHA approved
Executive Summary
We are extremely proud to present 7201 Amherst Street, an absolute ‘turn-key’ low-maintenance investment property professional built in 2023-2024. Immediately notice the designer touch throughout these four (4), two-bedroom two-bathroom units...( Two of which are free standing homes ) These are not your average rentals … All aspects of this property were thoughtfully curated to attract the best and brightest of tenants while keeping operating costs at a minimum. For example, the coastal inspired drought tolerant landscaping keeps curb appeal high, and water costs Low. Walk into open concept living and heigh ceilings, with light bright hardwood flowing into custom built kitchens well-appointed with wood flat panel cabinetry, black quartz countertops, and stainless-steel appliance packages. These two-bedroom models include a primary bedroom and on-suite bathroom, custom built vanities and floor to ceiling tiled walk-in showers. Individually metered for gas and electric, all units come with wash and dryer hook ups. Tenants come for the high end finishes, but they stay for the in-unit laundry....
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$136,800
|
$50.89
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$136,800
|
$50.89
|
| Taxes |
$24,600
|
$9.15
|
| Operating Expenses |
$10,000
|
$3.72
|
| Total Expenses |
$34,600
|
$12.87
|
| Net Operating Income |
$102,200
|
$38.02
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $136,800 |
| Annual Per SF | $50.89 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $136,800 |
| Annual Per SF | $50.89 |
| Taxes | |
|---|---|
| Annual | $24,600 |
| Annual Per SF | $9.15 |
| Operating Expenses | |
|---|---|
| Annual | $10,000 |
| Annual Per SF | $3.72 |
| Total Expenses | |
|---|---|
| Annual | $34,600 |
| Annual Per SF | $12.87 |
| Net Operating Income | |
|---|---|
| Annual | $102,200 |
| Annual Per SF | $38.02 |
Property Facts
| Price | $1,999,999 | Apartment Style | Single Family Home |
| Price Per Unit | $500,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.90% | Building Size | 2,688 SF |
| Gross Rent Multiplier | 14.6 | Average Occupancy | 0% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Parking Ratio | 0.74/1,000 SF |
| Price | $1,999,999 |
| Price Per Unit | $500,000 |
| Sale Type | Investment |
| Cap Rate | 4.90% |
| Gross Rent Multiplier | 14.6 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single Family Home |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 2,688 SF |
| Average Occupancy | 0% |
| No. Stories | 1 |
| Year Built | 2024 |
| Parking Ratio | 0.74/1,000 SF |
Unit Amenities
- Washer/Dryer Hookup
- Ceiling Fans
- Kitchen
- Granite Countertops
- Vaulted Ceiling
- Tub/Shower
- Double Pane Windows
- Patio
Site Amenities
- Courtyard
- Zen Garden
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 4 | $3,050 | 620 - 800 |
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Walk Score ®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | 469-192-04 | Total Assessment | $687,000 |
| Land Assessment | $526,700 | Annual Taxes | $24,600 ($9.15/SF) |
| Improvements Assessment | $160,300 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
469-192-04
Land Assessment
$526,700
Improvements Assessment
$160,300
Total Assessment
$687,000
Annual Taxes
$24,600 ($9.15/SF)
Tax Year
2024
zoning
| Zoning Code | R2 (medium to low density residential zoning.) |
| R2 (medium to low density residential zoning.) |
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7205 Amherst St
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