2121 thomas ave., san diego 92109 · ©2017 apartment consultants, inc. this information has been...
TRANSCRIPT
©2017 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 1
Building Your Wealth Through Apartment Investments MARKETING
Exclusively Listed By:
TERRY MOORE, CCIMSVP, Principal
www.aciapartments.com
Direct: 619.497.6424Fax: 619.299.8536Cell: [email protected]
License #00918512
Eight Great Units in Pacific Beach 2121 Thomas Ave., San Diego 92109
Just a short bike ride to the beach.
Almost $100K of renovation .
Six units have been remodeled.
Two double garages plus four tandem parking spaces make this classic Huffman building particularly desirable.
Thomas Ave. is a low traffic street providing quiet peaceful surroundings.
Video Tour:www.soldbyair.com/list/Thomas-Ave-Branded
$3,199,000
©2017 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 2
Building Your Wealth Through Apartment Investments MARKETING
2121 Thomas Ave., San Diego 92109
This classic Huffman building has had almost $100k of renova�on over the past three years. The building has dual pane windows.
Six of the eight units have been remodeled including appliances, kitchen cabinets, counter-tops and bathroom vani�es.
The property manager reports that his opinion is that apartments 2,5 & 6 have undergone substan�al rehabilita-�on, that 3,7 & 8 have been par�ally rehabbed and that 1 & 6 are near original condi�on.
Prime Asset has professionally managed the property for at least a decade and reports five/one bedroom and three/two bedroom units. The tax record shows ten bedrooms. ACI has not physically inspected each unit to verify.
©2017 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 3
Building Your Wealth Through Apartment Investments MARKETING
2121 Thomas Ave., San Diego 92109
©2017 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 4
Building Your Wealth Through Apartment Investments MARKETING
2121 Thomas Ave., San Diego 92109
©2017 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 5
Building Your Wealth Through Apartment Investments MARKETING
2121 Thomas Ave., San Diego 92109
City State Zip Parcel Size Acres APN2121 Thomas Ave. San Diego CA 92109 6,468 0.15 424-202-04-00
Rentable
Current Potential Current Sq Ft17.8 16.6 3.4% 5,690
Units Bed Bath Rent -by close Total Potential Rent Total Advertising $0 $8,7395 1 1 $1,725 $8,625 $1,800 $9,0003 2 1 $1,990 $5,970 $2,200 $6,600 Cleaning / Turnover $0 $0
Credit Check / Bank $0 $1,600
Gardener $1,500 $6,400
4 Garage Spaces - Income $75 $300 $75 $300 Gas & Electric $2,880 $0yes Laundry Income $120 $120 $120 $120no RUBS $0 $0 $0 $0 Insurance $2,400 $37,428no Other Income $0 $0 $0 $0 *Based upon sale price
Total Rental & Other Income $15,015 $15,015 $16,020 $16,020 Legal / Accounting $0 $1,6008 Total Parking Spaces0 Covered 8 Open $0 $4,800
Annual Operating Proforma Total Annual Expenses $67,347
Actual Potential Est Sq Ft: $11.84
Gross Rental Income $175,140 $187,200 Unit: $8,418
Plus Other Income $5,040 $5,040 GSI: 37.38%
Gross Scheduled Income $180,180 $192,240
Less: Vacancy Factor 3% $5,405 $5,767
Gross Operating Income $174,775 $186,473 Down Payment 56% Amount $1,775,445
Less: Operating Expenses 37.4% $67,347 $67,347 Interest Rate 4.75%
Net Operating Income $107,428 $119,126 # of Years Amortized Over 30
Less: First TD Payments $89,111 $89,111 Proposed Financing 45% Amount $1,423,555
Pre-Tax Cash Flow $18,316 $30,015 Existing Financing 0
Debt Coverage Ratio Current 1.21
6/14/2018
©2018 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of
the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
APARTMENT INVESTMENT INFORMATION
Salaries
Taxes*
Trash Collection
Water & Sewer
Estimated Average Monthly Income Analysis Estimated Annual Operating ExpensesMgt-Off Site
Miscellaneous
Repairs / Replacements
Painting
Mgt-On Site
$ / Sq Ft$3,199,000 $562
# Units Address Gross Sq. Ft.Yr Built (Aprx.)
CAP Rate %8 5,6901970
GRM
Price Potential $ / Unit
Expenses per:
3.7% $399,875
Rents shown will be in place by close of escrow.** see note below regarding unit mix
Actual rents differ. These figures are averages.
Six of the eight units have been remodeled including appliances, kitchen cabinets, counter-tops and bathroom vanities. Rent increases will be in effect by close of escrow.
** Prime Asset has managed the property for a decade and reports five/one bed and three/two bed units. The tax records show ten bedrooms. ACI has not seen or verified each unit.
A short bike ride to the beach and two double garages plus four tandem parking spaces make this asset very desirable. Plentiful street parking offers more convenience than most
of Pacific Beach. Concrete driveways mean lower maintenance cost for the owner. Thomas Ave is a low traffic residential street providing quiet peaceful surroundings.
Financing Information
This classic Huffman building has had almost $100k of renovation over the past three years. The building has dual pane windows.