9 Units - South Park€¦ · San Diego, CA 92104 South Park San Diego This property consists of (8)...

9 Units - South Park

2208 30th Street, San Diego, CA 92104

Benn Vogelsang

Vice President

(619) 794-0381

[email protected]

01883437

3405 Kenyon St #411San Diego, CA 92110(619) 226-6011 (p)(866) 861-7803 (f)www.scc1031.com

Rare Offering In the Heart ofSouth Park; Walking Distanceto Restaurants and Shops aswell as Balboa Park

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Extensive Renovations to theUnits and Buildings' Systems;Pitched Roofs on SixStructures on a Large Lot

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Strong Rents With AdditionalUpside; Community Patio Area;High Demand Rental Cottages

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Table of Contents

Real Estate Investment Details ..................................................................................... 3

Property Description .................................................................................................... 4

Property Photos ............................................................................................................. 5

Regional Map ................................................................................................................... 6

Location Map ................................................................................................................... 7

Aerial Map......................................................................................................................... 8

Executive Summary ...................................................................................................... 9

Pro Forma Summary .................................................................................................... 10

Unit Mix Report ............................................................................................................... 11

Cash Flow Analysis ...................................................................................................... 12

Loan Analysis ................................................................................................................. 13

Cash In Cash Out ........................................................................................................... 14

Investment Return Analysis .......................................................................................... 16

Internal Rate of Return Analysis .................................................................................. 17

Demographics ................................................................................................................. 18

Demographics ................................................................................................................. 19

APOD.................................................................................................................................. 21

Real Estate Investment Details9 Units - South Park

2208 30th StreetSan Diego, CA 92104

Analysis

Analysis Date August 2017

Property

Property 9 Units - South Park

Property Address 2208 30th StreetSan Diego, CA 92104

Year Built 1922

Financial Information

Down Payment $1,400,000

Purchase Information

Property Type MultiFamily

Purchase Price $2,800,000

Units 9

Total Rentable Sq. Ft. 4,890

Loans

Type Debt Term Amortization Rate Payment

Fixed $1,400,000 30 years 30 years 4% $6,684

Income & Expenses

Gross Operating Income $137,872

Monthly GOI $11,489

Total Annual Expenses ($49,094)

Monthly Expenses ($4,091)

Contact Information

Benn Vogelsang

(619) 794-0381

[email protected]

01883437

The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax orother professional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting,tax or other professional area before making any decisions.

page 3 of 21

Property Description9 Units - South Park


South ParkSan Diego

This property consists of (8) 1 Bedroom / 1 Bathcottages / duplexes that are all approximately 475 SFin size and (1) 2 Bedroom / 1.5 Bath two-story housethat is approximately 1000 SF in size. Eight of thenine units have been completely remodeled with newpitched roofs, plumbing, electrical, hardwood flooring,tiled bathrooms, kitchens and appliances. Select floorplans have been made more efficient. Residentshave the luxury of a large landscaped and concretepatio area with furniture as well as onsite laundryfacilities. The significant upgrades yield lowmaintenance costs while healthy upside in rents stillexists.

The property is located blocks from great establishments like Rebecca’s and South Park Alley and is only aquick walk to Morley Field. This property is in the heart of South Park which is one of the most desirablerental markets in all of San Diego County as well as very popular for homeownership. Geographically, theproperty is situated to the east of Balboa Park, bounded on the north by the canyons overlooking MissionValley and North Park, on the south by Switzer Canyon and the Golden Hill neighborhood, on the east byInterstate 805 and City Heights, and on the west by Florida Canyon and Balboa Park.

South Park is now considered one of the major historic urban communities of San Diego and has long beenproposed as a registered historic district. Other historically significant neighborhoods not far from South Parkinclude Golden Hill and Sherman Heights.

Like other urban San Diego communities, South Park has a high rate of pedestrian activity relative to otherregions of San Diego County. South Park is one of the most diverse communities in San Diego. Businessesand residential neighborhoods alike reflect this diversity.

DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS. PROPERTY SHOWN WITH ANACCEPTED OFFER ONLY.

page 4 of 21

Property Photos9 Units - South Park


South ParkSan Diego

page 5 of 21

Regional Map9 Units - South Park


page 6 of 21

Location Map9 Units - South Park


page 7 of 21

Aerial Map9 Units - South Park


page 8 of 21

Executive Summary9 Units - South Park


ACQUISITION COSTS

Purchase Price, Points and Closing Costs $2,800,000

Investment - Cash $1,400,000

First Loan $1,400,000

INVESTMENT INFORMATION

Purchase Price $2,800,000

Price per Unit $311,111

Price per Sq. Ft. $572.60

Income per Unit $15,787

Expenses per Unit ($5,455)

INCOME, EXPENSES & CASH FLOW

Gross Scheduled Income $142,080

Total Vacancy and Credits ($4,208)

Operating Expenses ($49,094)

Net Operating Income $88,778

Debt Service ($80,206)

Cash Flow Before Taxes $8,572

FINANCIAL INDICATORS

Cash on Cash Return Before Taxes 0.61%

Debt Coverage Ratio 1.11

Capitalization Rate 3.17%

Gross Rent Multiplier 19.71

Gross Income / Square Feet $29.06

Gross Expenses / Square Feet ($10.04)

Operating Expense Ratio 35.61%

page 9 of 21

Pro Forma Summary9 Units - South Park


UNIT MIX & MONTHLY SCHEDULED INCOME

Type Units Actual Total Market Total

2 bd / 1.5 ba 1 $1,850 $1,850 $2,500 $2,500

1 bd / 1 ba 2 $1,260 $2,520 $1,650 $3,300

1 bd / 1 ba 6 $1,220 $7,320 $1,650 $9,900

TOTALS 9 $11,690 $15,700

ANNUALIZED INCOMEActual Market

Gross Potential Rent $140,280 $188,400

Less: Vacancy ($4,208) ($5,652)

Misc. Income $1,800 $1,800

Effective Gross Income $137,872 $184,548

Less: Expenses ($49,094) ($51,410)

Net Operating Income $88,778 $133,138

Debt Service ($80,206) ($80,206)

Net Cash Flow after Debt Service $8,572 $52,932

Principal Reduction $24,655 $24,655

Total Return $33,226 $77,587

ANNUALIZED EXPENSES

Actual MarketProperty Management Fee $7,104 $9,420

Building Insurance $2,250 $2,250

Maintenance $4,500 $4,500

Taxes - Real Estate $31,640 $31,640

Utilities - Gas & Electric $600 $600

Utilities - Water & Sewer $3,000 $3,000

Total Expenses $49,094 $51,410

Expenses Per RSF $10.04 $10.51

Expenses Per Unit $5,455 $5,712

INVESTMENT SUMMARY

Price: $2,800,000

Year Built: 1922

Units: 9

Price/Unit: $311,111

RSF: 4,890

Price/RSF: $572.60

Lot Size: 10,001 sf

Floors: 2

APN: 539-093-08-

Cap Rate: 3.17%

Market Cap Rate: 4.75%

GRM: 19.71

Market GRM: 14.72

FINANCING SUMMARY

Loan Amount: $1,400,000

Down Payment: $1,400,000

Loan Type: Fixed

Interest Rate: 4%

Term: 30 years

Monthly Payment: $6,684

DCR: 1.11

page 10 of 21

Unit Mix Report9 Units - South Park


UNIT MIXES

Units Type Approx. SqFt Avg. Rents Monthly Mkt Rents Monthly1 2 bd / 1.5 ba 1000 $1,850 $1,850 $2,500 $2,5002 1 bd / 1 ba 520 $1,260 $2,520 $1,650 $3,3006 1 bd / 1 ba 475 $1,220 $7,320 $1,650 $9,9009 4,890 $11,690 $15,700

UNIT MIX UNIT MIX SQUARE FEET

● 2 bd / 1.5 ba

● 1 bd / 1 ba

● 1 bd / 1 ba

● 2 bd / 1.5 ba

● 1 bd / 1 ba

● 1 bd / 1 ba

UNIT MIX INCOME UNIT MIX MARKET INCOME

● 2 bd / 1.5 ba

● 1 bd / 1 ba

● 1 bd / 1 ba

● 2 bd / 1.5 ba

● 1 bd / 1 ba

● 1 bd / 1 ba

page 11 of 21

Cash Flow Analysis9 Units - South Park


Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10

GROSS SCHEDULED INCOME $142,080 $146,342 $150,733 $155,255 $159,912 $164,710 $169,651 $174,740 $179,983 $185,382

Turnover Vacancy ($4,208) ($4,335) ($4,465) ($4,599) ($4,737) ($4,879) ($5,025) ($5,176) ($5,331) ($5,491)

Total Operating Expenses ($49,094) ($49,307) ($49,527) ($49,753) ($49,986) ($50,225) ($50,473) ($50,727) ($50,989) ($51,259)

NET OPERATING INCOME $88,778 $92,701 $96,741 $100,903 $105,190 $109,605 $114,153 $118,838 $123,662 $128,632

Loan Payment ($80,206) ($80,206) ($80,206) ($80,206) ($80,206) ($80,206) ($80,206) ($80,206) ($80,206) ($80,206)

NET CASH FLOW (b/t) $8,572 $12,495 $16,536 $20,698 $24,984 $29,400 $33,948 $38,632 $43,457 $48,426

Cash On Cash Return b/t 0.61% 0.89% 1.18% 1.48% 1.78% 2.10% 2.42% 2.76% 3.10% 3.46%

Footnotes: b/t = before taxes;a/t = after taxes

page 12 of 21

Loan Analysis9 Units - South Park



LOAN 1

Debt Service Analysis

Principal Payments $24,655 $25,659 $26,704 $27,792 $28,925 $30,103 $31,330 $32,606 $33,934 $35,317

Interest Payments $55,551 $54,547 $53,501 $52,413 $51,281 $50,103 $48,876 $47,600 $46,271 $44,889

Total Debt Service $80,206 $80,206 $80,206 $80,206 $80,206 $80,206 $80,206 $80,206 $80,206 $80,206

Principal Balance Analysis

Beginning Principal Balance $1,400,000 $1,375,345 $1,349,687 $1,322,982 $1,295,190 $1,266,265 $1,236,162 $1,204,833 $1,172,227 $1,138,292

Principal Reductions $24,655 $25,659 $26,704 $27,792 $28,925 $30,103 $31,330 $32,606 $33,934 $35,317

Ending Principal Balance $1,375,345 $1,349,687 $1,322,982 $1,295,190 $1,266,265 $1,236,162 $1,204,833 $1,172,227 $1,138,292 $1,102,975

page 13 of 21

Cash In Cash Out9 Units - South Park



Rental Income $140,280 $144,488 $148,823 $153,288 $157,886 $162,623 $167,502 $172,527 $177,703 $183,034

Laundry $1,800 $1,854 $1,910 $1,967 $2,026 $2,087 $2,149 $2,214 $2,280 $2,349

GROSS SCHEDULED INCOME $142,080 $146,342 $150,733 $155,255 $159,912 $164,710 $169,651 $174,740 $179,983 $185,382

Turnover Vacancy ($4,208) ($4,335) ($4,465) ($4,599) ($4,737) ($4,879) ($5,025) ($5,176) ($5,331) ($5,491)

GROSS OPERATING INCOME $137,872 $142,008 $146,268 $150,656 $155,176 $159,831 $164,626 $169,565 $174,652 $179,891

Expenses

Property Management Fee ($7,104) ($7,317) ($7,537) ($7,763) ($7,996) ($8,235) ($8,483) ($8,737) ($8,999) ($9,269)

Building Insurance ($2,250) ($2,250) ($2,250) ($2,250) ($2,250) ($2,250) ($2,250) ($2,250) ($2,250) ($2,250)

Maintenance ($4,500) ($4,500) ($4,500) ($4,500) ($4,500) ($4,500) ($4,500) ($4,500) ($4,500) ($4,500)

Taxes - Real Estate ($31,640) ($31,640) ($31,640) ($31,640) ($31,640) ($31,640) ($31,640) ($31,640) ($31,640) ($31,640)

Utilities - Gas & Electric ($600) ($600) ($600) ($600) ($600) ($600) ($600) ($600) ($600) ($600)

Utilities - Water & Sewer ($3,000) ($3,000) ($3,000) ($3,000) ($3,000) ($3,000) ($3,000) ($3,000) ($3,000) ($3,000)

TOTAL OPERATING EXPENSES ($49,094) ($49,307) ($49,527) ($49,753) ($49,986) ($50,225) ($50,473) ($50,727) ($50,989) ($51,259)

NET OPERATING INCOME $88,778 $92,701 $96,741 $100,903 $105,190 $109,605 $114,153 $118,838 $123,662 $128,632

Debt Service

Loan Interest ($55,551) ($54,547) ($53,501) ($52,413) ($51,281) ($50,103) ($48,876) ($47,600) ($46,271) ($44,889)

Principal Payments ($24,655) ($25,659) ($26,704) ($27,792) ($28,925) ($30,103) ($31,330) ($32,606) ($33,934) ($35,317)

Footnotes: Cash Flow IRR based upon net cash flow and principal payments

page 14 of 21

Cash In Cash Out9 Units - South Park



NET CASH FLOW (b/t) $8,572 $12,495 $16,536 $20,698 $24,984 $29,400 $33,948 $38,632 $43,457 $48,426

Cash Flow IRR N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

Projected Property Value $2,800,000 $2,800,000 $2,800,000 $2,800,000 $2,800,000 $2,800,000 $2,800,000 $2,800,000 $2,800,000 $2,800,000

Resale Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Proceeds b/f Debt Payoff $2,800,000 $2,800,000 $2,800,000 $2,800,000 $2,800,000 $2,800,000 $2,800,000 $2,800,000 $2,800,000 $2,800,000

Loan Principal Balance ($1,375,345) ($1,349,687) ($1,322,982) ($1,295,190) ($1,266,265) ($1,236,162) ($1,204,833) ($1,172,227) ($1,138,292) ($1,102,975)

Net Proceeds From Sale $1,424,655 $1,450,313 $1,477,018 $1,504,810 $1,533,735 $1,563,838 $1,595,167 $1,627,773 $1,661,708 $1,697,025

Net Resale IRR 2.37% 2.53% 2.68% 2.83% 2.97% 3.12% 3.26% 3.40% 3.54% 3.68%

Footnotes: Cash Flow IRR based upon net cash flow and principal payments

page 15 of 21

Investment Return Analysis9 Units - South Park



Cash Flow - To Date $8,572 $21,067 $37,602 $58,300 $83,284 $112,684 $146,631 $185,263 $228,720 $277,146

Net Resale Proceeds $1,400,267 $1,400,473 $1,401,726 $1,404,066 $1,407,539 $1,412,190 $1,418,067 $1,425,221 $1,433,704 $1,444,633

Invested Capital ($1,400,000) ($1,400,000) ($1,400,000) ($1,400,000) ($1,400,000) ($1,400,000) ($1,400,000) ($1,400,000) ($1,400,000) ($1,400,000)

Net Return on Investment $8,838 $21,540 $39,328 $62,366 $90,823 $124,874 $164,699 $210,485 $262,424 $321,779

Internal Rate of Return 0.63% 0.77% 0.93% 1.11% 1.29% 1.47% 1.65% 1.84% 2.02% 2.21%

Modified IRR 0.63% 0.77% 0.93% 1.10% 1.27% 1.43% 1.60% 1.77% 1.93% 2.09%

NPV (cash flow + reversion) $33,226 $71,380 $114,620 $163,110 $217,019 $276,522 $341,799 $413,037 $490,428 $574,171

PV (NOI + reversion) $2,888,778 $2,981,478 $3,078,220 $3,179,123 $3,284,313 $3,393,918 $3,508,072 $3,626,909 $3,750,572 $3,879,204

Footnotes: a/t = after taxes; Modified IRR = Modified Internal Rate of Return; PV = Present Value; NPV = Net Present Value; NOI = Net Operating IncomeReversion = Amount received from the resale; Net Return on Investment = Cash Flow (a/t To Date) + Net Proceeds from Resale - Invested Capital.

page 16 of 21

Internal Rate of Return Analysis9 Units - South Park


BEFORE TAX IRR

Time Future Cash Flows

Initial Investment ($1,400,000)

End of Year 1 $8,572









End of Year 10* $1,745,451

IRR = 3.68% * ($48,426 + $1,697,025)

AFTER TAX IRR

Time Future Cash Flows

Initial Investment ($1,400,000)










End of Year 10* $1,493,059

IRR = 2.21% * ($48,426 + $1,444,633)

page 17 of 21

Demographics9 Units - South Park


Population Characteristic 1 Mile 3 Mile 5 Mile

AGES 0-4 1,123 19,215 35,316

AGES 5-9 1,173 20,886 38,830

AGES 10-14 896 17,235 32,441

AGES 15-19 772 15,915 30,229

AGES 20-24 869 17,263 34,002

AGES 25-29 1,065 19,144 38,587

AGES 30-34 1,323 21,251 42,080

AGES 35-39 1,659 23,836 44,673

AGES 40-44 1,955 25,504 45,390

AGES 45-49 2,037 25,051 43,737

AGES 50-54 1,940 22,200 38,976

AGES 55-59 1,731 18,537 33,181

AGES 60-64 1,430 14,369 26,513

AGES 65-69 1,098 10,492 20,030

AGES 70-74 771 7,328 14,670

AGES 75-79 456 4,889 10,491

AGES 80-84 226 3,199 7,246

AGES 85+ 450 5,989 13,314

Household Income 1 Mile 3 Mile 5 Mile

Median Household Income $55,744 $44,166 $46,609

< $10000 524 9,739 15,647

$10000-$14999 492 10,223 15,338

$15000-$19999 653 7,508 12,805

$20000-$24999 339 7,993 12,645

$25000-$29999 479 6,733 11,556

$30000-$34999 404 6,669 10,990

$35000-$39999 587 6,679 10,921

$40000-$44999 399 5,907 10,593

$45000-$49999 419 5,424 9,019

$50000-$60000 848 9,873 16,984

$60000-$74000 982 10,729 18,580

$75000-$99999 1,226 12,476 23,532

$100000-$124999 655 6,628 13,814

$125000-$149999 643 3,730 7,558

$150000-$199999 614 3,645 7,075

> $200000 650 3,573 7,076

Race Characteristic 1 Mile 3 Mile 5 Mile

Non Hispanic White 16,153 152,588 287,750

Population Black 436 22,571 45,697

Population Am In/AK Nat 25 598 1,167

Characteristic Housing 1 Mile 3 Mile 5 Mile

Housing Units 11,331 132,804 229,097

Occupied Housing Units 10,644 121,398 210,018

Owner Occupied Housing Units 4,357 33,947 73,662

Renter Occupied Housing Units 6,287 87,451 136,356

Vacant Housing Units 687 11,406 19,079

page 18 of 21



POPULATION 1 MILE 3 MILE 5 MILE

Male 10,705 (51.04 %) 150,418 (51.46 %) 281,489 (51.21 %)

Female 10,269 (48.96 %) 141,885 (48.54 %) 268,217 (48.79 %)

Total Population 20,974 292,303 549,706

AGE BREAKDOWN 1 MILE 3 MILE 5 MILE

Ages 0-4 1,123 (5.35 %) 19,215 (6.57 %) 35,316 (6.42 %)

Ages 5-9 1,173 (5.59 %) 20,886 (7.15 %) 38,830 (7.06 %)

Ages 10-14 896 (4.27 %) 17,235 (5.90 %) 32,441 (7.06 %)

Ages 15-19 772 (3.68 %) 15,915 (5.44 %) 30,229 (5.50 %)

Ages 20-24 869 (4.14 %) 17,263 (5.91 %) 34,002 (6.19 %)

Ages 25-29 1,065 (5.08 %) 19,144 (6.55 %) 38,587 (7.02 %)

Ages 30-34 1,323 (6.31 %) 21,251 (7.27 %) 42,080 (7.66 %)

Ages 35-39 1,659 (7.91 %) 23,836 (8.15 %) 44,673 (8.13 %)

Ages 40-44 1,955 (9.32 %) 25,504 (8.73 %) 45,390 (8.26 %)

Ages 45-49 2,037 (9.71 %) 25,051 (8.57 %) 43,737 (7.96 %)

Ages 50-54 1,940 (9.25 %) 22,200 (7.59 %) 38,976 (7.09 %)

Ages 55-59 1,731 (8.25 %) 18,537 (6.34 %) 33,181 (6.04 %)

Ages 60-64 1,430 (6.82 %) 14,369 (4.92 %) 26,513 (4.82 %)

Ages 65-69 1,098 (5.24 %) 10,492 (3.59 %) 20,030 (3.64 %)

Ages 70-74 771 (3.68 %) 7,328 (2.51 %) 14,670 (2.67 %)

Ages 75-79 456 (2.17 %) 4,889 (1.67 %) 10,491 (1.91 %)

Ages 80-84 226 (1.08 %) 3,199 (1.09 %) 7,246 (1.32 %)

Ages 85+ 450 (2.15 %) 5,989 (2.05 %) 13,314 (2.42 %)

page 19 of 21



HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE

Median Income $55,744 $44,166 $46,609

Less than $10,000 524 9,739 15,647

$10,000 -$14,999 492 10,223 15,338

$15,000 - $19,999 653 7,508 12,805

$20,000 -$24,999 339 7,993 12,645

$25,000 - $29,999 479 6,733 11,556

$30,000 - $34,999 404 6,669 10,990

$35,000 - $39,999 587 6,679 10,921

$40,000 - $44,999 399 5,907 10,593

$45,000 - $49,999 419 5,424 9,019

$50,000 - $59,999 848 9,873 16,984

$60,000 - $74,999 982 10,729 18,580

$75,000 - $99,999 1,226 12,476 23,532

$100,000 - $124,999 655 6,628 13,814

$125,000 - $149,999 643 3,730 7,558

$150,000 - $199,999 614 3,645 7,075

Greater than $200,000 650 3,573 7,076

HOUSING 1 MILE 3 MILE 5 MILE

Housing Units 11,331 132,804 229,097

Occupied Units 10,644 121,398 210,018

Owner Occupied Units 4,357 33,947 73,662

Renter Occupied Units 6,287 87,451 136,356

Vacant Units 687 11,406 19,079

RACE DEMOGRAPHICS 1 MILE 3 MILE 5 MILE

Population Non Hispanic White 16,153 152,588 287,750

Population Black 436 22,571 45,697

Population Am In/Ak Nat 25 598 1,167

page 20 of 21

9 Units - South Park


# Units Zip

9 92104

Current Market Current Market19.7 14.7 3.2% 4.9%

.Gross Sq. Ft. Parcel Size

(Approx.) (Approx.) (Approx.)$572.71 4889 10,001

# Units Type Rent TotalRent Range Advertising $0 Management (Off Site) $5,683

Elevator $0 Management (On Site) $01 2Br/1.5Ba $1,850 $1,850 Gas & Electric $600 Licenses & Fees $02 1Br/1Ba $1,260 $2,520 1070-1450 Water & Sewer $3,000 Miscellaneous $06 1Br/1Ba $1,220 $7,320 971-1300 Landscaping $0 Reserves $0

Trash Removal $0 Pool $0Laundry Income $150 Pest Control $0 Insurance $2,250Total Monthly Income $11,840 Maintenance $4,500 Taxes $31,640

Total Annual Operating Expenses (estimated): $47,673

1 2Br/1.5Ba $2,500 $2,500 Expenses Per: Unit $5,2978 1Br/1Ba $1,650 $13,200 % of Actual GSI 34%

Laundry Income $150Total Monthly Income $15,850Estimated Annual Operating Proforma Financing Summary

Actual MarketGross Scheduled Income $142,080 $190,200 Downpayment: $1,400,000Less: Vacancy Factor 3% $4,262 $5,706 50%Gross Operating Income $137,818 $184,494 Interest Rate: 4.000%Less: Expenses 34% $47,673 $47,673 Amortized over: 30 YearsNet Operating Income $90,144 $136,821 Proposed Loan Amount: $1,400,000

Less: 1st TD Payments ($80,206) ($80,206) Debt Coverage Ratio:Current: 1.12

Pre-Tax Cash Flow $9,939 $56,615 Market: 1.71Cash On Cash Return 0.7% 4.0%Principal Reduction $24,655 $24,655Total Potential Return (End of Year One) 2% 6%

DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS

Benn Vogelsang 619-794-0381 BRE # 01883437 [email protected]

Map Code

$2,800,000

APARTMENT INVESTMENT INFORMATION

Address CitySan Diego

GRM CAP Rate$/UnitPrice

2208-2224.5 30th Street

$/Square Foot

$311,111

Estimated Annual Operating Expenses

Yr. Built(Approx.)

1922

advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Income Detail

Estimated Market Rents

Estimated Actual Average Rents

The information contained herein has been obtained from sources believed reliable. While South Coast Commercial does not doubt its accuracy, we have not verified it and make no guarantee,

warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for

example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax, financial and legal advisors. You and your

Comments

CASHFLOWANALYSIS

page 21 of 21

9 Units - South Park€¦ · San Diego, CA 92104 South Park San Diego This property consists of (8)...

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