presents 5 fabulous units in north park - loopnet€¦ · san diego, california 92104 $1,949,000...

CONTACT INFO.

Joseph V. Siemienowski, Broker DRE License No. 0083132

Direct Phone (858) 205-1031 10951 Sorrento Valley Road, Suite 1A, San Diego, California 92121

O (858) 866-0750 | F (858) 866-0755 | Email: [email protected] WEBSITE: www.siemienowskiassociates.com

THE INFORMATION CONTAINED HEREIN HAS BEEN GIVEN TO US BY THE OWNER OF THE PROPERTY OR OTHER SOURCES WE DEEM RELIABLE, WE HAVE NO REASON TO DOUBT TS ACCURACY,

BUT WE DO NOT GUARANTEE IT. ALL INFORMATION SHOULD BE VERIFIED PRIOR TO PURCHASE OR LEASE.

Presents

5 Fabulous Units in North Park

3503 Florida St. & 2014-2020 Myrtle Ave. San Diego, California 92104

$1,949,000 Location, Location, Location

Prime North Park / Borders Hillcrest Balboa Park Spectacular Complete Remodel for SFR approximately

$100,000 done in 2014 – New Custom Kitchen, New Baths, New Deck, Zen Garden, etc…

SFR has separate oversized double car garage, separate large yard with Redwood Deck, Hardwood floors, fireplace, separate office nook, etc… - See further details

2 Duplexes with 4 Garages – all 1BR/1BA Units. One Duplex has 2 first floor units. Second Duplex contains 4 Garages with 2 1BR/1BA Units above – Total 4 Units

Pitched Roofs on all 4 Buildings Separate Water Heaters for all units – low expenses for

owner 2 Separate Water Meters – SFR pays their own Water/Sewer Unit #2018 had complete remodel including new custom

kitchen, bath, windows, etc… see Improvements and Property Features

All units are end units with no one to the top, bottom, or one side of you

All Garages have separate entry doors as well Oversized Corner Lot with Plentiful Street Parking Fabulous, Fabulous Location – Walking Distance to Balboa

Park, Morley Field Parks, Disc Golf, San Diego Zoo, Naval Hospital, and Much More. Minutes to Hillcrest, Whole Foods, Trader Joe’s and all other shopping. Close to Freeway 163, I-8 Freeway and I-5 Freeway.

******** 3503 FLORIDA ST. – 2BR,1.5BA SFR w/ Oversized 2Car Garage

2014 & 2016 Myrtle Ave. – Duplex – Two 1BR,1BA Units 2018 & 2020 Myrtle Ave. – Duplex – Two 1BR,1BA Units

Fantastic 2BR, 1.5BA Single Family Home PLUS 4 – 1BR,1BA Units with Garages for all!!

CONTACT INFO.






Property Summary

Address: 3503 Florida Street San Diego, CA 92104 Sales Price: $ 1,949,000 Price per unit: $ 389,800 # of Units: 5 Year Built: 1964 Effective Year Built,

4 Unit Apartment SFR Age - Unknown

Building Size: 3,279 SF Estimated - Buyer to verify

Cost/Sq.Ft.: $ 594.39 Map Code: 1269-C6 Parcel No. 453-290-13-00 Parcel Size: 9,378 SF Parking Info: 5 garage spaces (4 Single, 1 Double) MLS # 180005686

Current GRM: 16.97 Projected GRM: 15.51

Current CAP: 3.63 Projected CAP: 4.17

3503 Florida Street San Diego, California 92104

CONTACT INFO.






Unit Mix & Income

Unit# Unit Type Total Rent Est.SF Unit Info Current Projected 3503 2br/1.5ba SFR w/Porch $ 3,150 $ 3,295 1,279 SF Detached Double Garage, Redwood Deck, Yard, W/D Hookups, Recent

Major Remodel

2014 1BR, 1BA $ 1,695 $ 1,795 500 SF Single Garage, Downstairs, Separate Water Heater

2016 1BR, 1BA $ 1,700 $ 1,795 500 SF Single Garage, Downstairs, Separate Water Heater

2018 1BR, 1BA $ 1,700 $ 1,795 500 SF Single Garage, Upstairs, Separate Water Heater. Complete Major

Remodel

2020 1BR, 1BA $ 1,325 $ 1,795 500 SF Single Garage, Upstairs, Separate Water Heater

Total Monthly Rent $ 9,570 $10,475

Total Annual Rent $114,840 $125,700 Units has NOT been measured for square footage. Total square foot on property profile indicates 3,279 SF.

Buyer to verify ALL information, including square footage, age, etc… prior to close of escrow.


CONTACT INFO.






Estimated Expenses

Taxes: $ 22,368 (based on 1.15% of Sales Price) Property Insurance: $ 2,109 (Actual) Gas/Electric: $ 198 (Actual) Water & Sewer: $ 1,690 (Actual) Trash: $ - Repairs/Maintenance (5%) of GSI

$ 5,750 (Estimate) Professional Mgmt. $ 5,627 (Estimate) Landscaping: $ 2,710 (Actual) Pest Control: $ 384 (Actual) Advertising: $ - Miscellaneous: $ 1,000 (Actual) Total Expenses: $ 41,836

Financial Proforma

ACTUAL MARKET

Gross Scheduled Income (GSI) 114,840 125,700

Vacancy (2.5% Estimate) (2,297) (2,514)

Gross Operating Income (GOI): $112,543 $123,186

Total Expenses (41,836) (41,836)

Net Operating Income (NOI): $70,707 $81,350

Existing Assumable 1st TD @ 4.14% 43,697 43,697

Cash Flow (Downpayment $1,234,135) 27,010 37,653

Cash on Cash Return 2.19% 3.05%

New Loan available from Chase of approximately $900,000, 5 year

fixed rate of 4.5% (as of June 11, 2018)

Currently, property has Chase 1st Loan approx. $710,865 @ 4.14%

fixed thru Feb.1,2020, payments are $3,641.41/month.


CONTACT INFO.






Improvements and Property Details Unit 2018 – Was Remodeled in 2017

All seven windows were replaced with new white vinyl, dual pane, low energy windows

and quality blinds

New Travertine Tile in Kitchen and Bath

Living Room and Bedroom had new Vinyl Plank Flooring

New Walnut Kitchen Cabinets

New White Rose Granite Countertops – New Stainless Streel Double Sink with Plumbing

Materials plus new Brushed Nickel Faucet

New Toilet and Vanity Mirror. Also New Bathroom Ceramic Sink with Brushed Nickel

Faucet.

New Track Lighting and upgraded Electrical Switches, Plates and Outlets

Dual Color Tone

New Front Screen Door

New Travertine Tile Surround

Stainless Steel Refrigerator and Oven/Stove

New 25000 BTU Furnace

Total Cost approximately $23,000 plus

Stunning Remodel has all new Travertine and Vinyl Plank Flooring


CONTACT INFO.






Improvements and Property Details Single Family House – 3503 Florida Street

House was completely remodeled in 2014 of remodel was

approximately $100,000

Hardwood Floors refinished

New Kitchen – Designer Shaker White Cabinets with Quartz

Countertops

Both Full Bath and Half Bath completely remodeled featuring

SACKS tile – White Subway Tile – Glass Shower Door

New High Quality Windows

Brick Surround Working Fireplace, gas line was brought in

All new Kitchen Aid Appliances including Stove, Refrigerator,

Dishwasher, Microwave and Wine Cooler

Separate Office Nook off from Kitchen

New Window Coverings

New Redwood Deck

Oversized Double Car Garage with Washer/Dryer Hookups

French Doors leading to Redwood Deck with “Zen” Garden

and Yard

Custom Tile Floors in Kitchen and Baths

Plus Other Custom Features


CONTACT INFO.






Other Features

4 Garages – One Single Car Garage for each

1BR unit

Oversized 2 Car Garage for SFR

Nice Courtyard between duplex building

Low Maintenance Landscaping

Large Lot of 9,378 Sq.Ft.

Second Courtyard for the Duplexes. This

courtyard is on another level that is accessed

via a gate and stairs. Can be enhanced further

with outdoor furniture, table, chairs, BBQ for

small get togethers. Open to your

imagination, but could easily be improved

further

Unit 2016 gets reimbursed $15 per month was electricity for duplex outside lights

Two Lemon Trees, Several Palm Trees

Assumable Financing of 4.14% or get a new loan

New Financing Available with Chase of approx.. $900,000 @ 4.45% (quote as of 2/1/2018)

4 (Four) Separate Buildings

Outstanding Location in North Park, Borders, Hillcrest and Balboa Park, close to Naval

Hospital

Fantastic Owner Occupant Opportunity and/or Investment Property


presents 5 fabulous units in north park - loopnet€¦ · san diego, california 92104 $1,949,000...

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