3960
Idaho St,
San Diego,
California
CA
92104
Sold For: $3,375,000
Listing ID: 220019166SD
Status:
Closed
Sold Date:
9/28/2022
-Prime Central San Diego Location – North Park -Value-Add Opportunity (60% Upside in Rents) -Excellent Unit Mix of 1Bdrm & 3Bdrm Units -High Demand Rental Market -Garages and Off-Street Parking -Spacious Floor Plans -Easy Access to Local Services and Major Freeways -Located Near Shops, Restaurants and Transportation The Idaho Street Apartments, a nine (9) unit apartment complex in North Park, San Diego, represents a unique value-add investment opportunity. There is substantial upside in rental income (approximately 60%). The subject property is located on a 7,004sf lot consisting of three (3) 3bedroom / 1.5bathroom and six (6) 1bedroom / 1bathroom units. The property has ample off- street parking plus two (2) double-car garages. ***The identical building located at 4152 Iowa Street is also listed for sale and can be sold to the same buyer for a total of 18-Units.*** Ideal value-add opportunity located in one of San Diego's best rental markets.
Primary Features
Property Sub Type:
Commercial/Residential
Property Type:
Commercial Sale
Zoning:
RM-3-9
Interior
Cooling Type:
Wall/Window Unit(s)
Cooling:
yes
Heating:
yes
Heating Type:
See Remarks
External
Construction Materials:
Block, Stucco
Number Of Buildings:
1
Parking Total:
11
Phase:
9
Roof:
Wood
Location
Country:
US
MLS Area Major:
92104 - North Park
Additional
List Agent State License:
01352336
List Office State License:
01352336
Number Of Units Total:
9
Parcel Number:
4457112200
Financial
Cap Rate:
2.99
Current Financing:
Other
Gross Scheduled Income:
159300
Insurance Expense:
3500
Maintenance Expense:
3150
Net Operating Income:
89629
Operating Expense:
64892
Other Expense:
102
Supplies Expense:
3150
Total Expenses:
64892
Trash Expense:
1358
Water Sewer Expense:
5395
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Based on information from CARETS as of Thursday, March 28th, 2024 01:20:37 PM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Listed by: JamesCarter, DRE #01352336 from Apartment Realty Group (ARG) 619-222-9500
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