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Bob Adams

Bob Adams

RE/MAX Associates
San Diego, CA 92128

858-484-6865
Contact Me
CA BRE#00683256

Contact Me





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Listing 2 out of 1,666
Sold for $2,050,000 Sold

3853 Cherokee Ave
San Diego, CA 92104

13 units | Multi Family 5+ - MLS# 180056883
Property Photo
1/25

Sold

Sold for $2,050,000 on Dec 4, 2018

Description

Great VALUE-ADD MULTI-FAMILY OPPORTUNITY for INVESTORS in San Diego's coveted 92104 zip code. This great VALUE-ADD MULTI-FAMILY OPPORTUNITY for INVESTORS is located in the up-and-coming Cherokee Point neighborhood of San Diego which has convenient access to the I-805, I-15, and I-8 freeways and is also situated in and around the vibrant communities of North Park/City Heights/Normal Heights. This great VALUE-ADD MULTI-FAMILY OPPORTUNITY in San Diego's 92104 has strong current cash-flow and also has fantastic rental income upside that the new owner can take advantage of since CURRENT RENTS ARE WELL-BELOW MARKET. Consists of two separate parcels: Property #1 is 3853-3859 Cherokee Ave; and Property #2 is 3861-3865 Cherokee Ave. Property #1 consists of EIGHT 1-bed/1-bath multi-family units and THREE studio units, and ONE non-conforming studio unit situated on a 7,701 sqft lot. Property #2 consists of ONE 2-bed/2-bath and ONE 1-bed/1-bath (plus 1 non-conforming addl bedroom on a 6,298 sqft lot. STRONG RENTAL Market.

Features

  • Property Type: Multi Family 5+
  • Sub Type: Multi Family 5+
  • Listing Status: Sold
  • Listing Price: $2,299,000
  • County/Area: San Diego County
  • Zip Code: 92104
  • Stories: 1 Story, 2 Story
  • Units: 13 units
  • Actual Gross Schd Income: 130200
  • Actual Operating Expense: 18180
  • Actual Taxes Expense: 27588
  • Cap Rate Actual: 4.8
  • Cap Rate Projected: 7.5
  • Gross Equity: 100
  • Laundry: Owned
  • Listing Area: NORTH PARK (92104)
  • Parking: Garages, Spaces
  • Proj Gross Multiplier: 11.8
  • Proj Operating Expense: 18180
  • Proj. Gross Sched. Income: 207370
  • Projected Net Income: 183790
  • Siding: Remarks
  • SqFt Source: Buyer to Verify
  • SqFt of Improvement: 7200
  • Sold Date: 2018-12-04 00:00:00
  • Sold Price: 2050000
Courtesy of Titan Pacific Group Inc



Bob Adams | 858-484-6865 | Contact Me
16787 Bernardo Center Dr Suite 6 - San Diego, CA 92128
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