1614-20 Reed Ave.San Diego, CA 92109 View Map $3,575,000 Schedule a Tour
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Robert & Joy Aumann(858) 752-8730
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FOR SALE: 1614-20 Reed Ave. San Diego CA 92109 | 220024084 |$3,575,000| Call Rob (858) 752-8730 for a TOUR!
Property Type:Com-Res Income
On Site:10 Days
Lot Size:0.14 Acres
Office:Apartment Consultants, Inc.
JUST REDUCED!!!! This is the BEST Pacific Beach value add opportunity that I have seen in my thirty plus year career! The property is located on a low traffic street within a mile of the coast and less than three quarters of mile from Mission Bay and is within minutes of I-5 and I-8. Four one bedroom and four two bedroom units which is a better unit mix than 70% of buildings between 5-20 units. Rents are currently well below market. Property manager reports that all leases are month to month. Owner of a twin renovated building three blocks away states his rents are $3,000 for one bed and $4,200 for two bed units. Making renovations can make the rents yield an NOI better than $200k annually. Most of the units have vinyl flooring, upgraded kitchens and baths, attractive new tile showers, stainless steel appliances, tasteful interior decor, and ceiling fans. Rents shown reflect a 10% increase effective 5/1/23. For a qualified rehabber a 60% loan to value may be possible. Please include a completed "AS-IS addendum" from documents section with all offers.
$000 Monthly Payment
Loan and interest only.
Address:1614-20 Reed Ave., San Diego, CA 92109
Area (MLS Code):Coastal South
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Lot Size: 0.14 Acres
Lot Dimensions:.25 Acres or less
Tax and Financial Info
Gross Sched Income Projected: $264, 000
Cap Rate Actual: $1
Cap Rate Projected: $4.90
Gross Income: $105, 178
Actual Operating Expense: $79, 622
Actual Gross Schd Income: $109, 560
Tenant Pays: Electricity, Gas
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1614-20 Reed Ave. San Diego, CA 92109
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