2559-2563 Fairmount Ave | San Diego, CA 92105
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- LoopNet Team
2559-2563 Fairmount Ave
San Diego, CA 92105
Multifamily Property For Sale
·
5 Units
INVESTMENT HIGHLIGHTS
- Strong In-Place Cash Flow with Upside - 5.37% In-Place Cap, 7.39% Pro Forma Cap
- In-Unit Washers and Dryers, Rare For One Bedrooms
- Further Upside Potential Through Implementation of a Utility Billback Program
- 2019 Interior/Exterior Remodel - New Kitchens, Bathrooms, Flooring, Appliances, Windows, Water Heaters, Front Doors; Main Sewer Line Replaced in 2024
- ADU Potential - Opportunity to Convert Two Single Car Garages to a One-Bedroom ADU and Maintain 1:1 Parking Ratio
- Five On-Site Surface Level Parking Spaces with Two Garages, Potential to Create Six Total Surface Level Parking Spaces
PROPERTY FACTS
| No. Units | 5 | Building Size | 2,420 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1953/2019 |
| Building Class | C | Parking Ratio | 3.2/1,000 SF |
| Lot Size | 0.12 AC | ||
| Zoning | RM-1-1 - Multi-Family Dwelling | ||
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 2,420 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1953/2019 |
| Parking Ratio | 3.2/1,000 SF |
| Zoning | RM-1-1 - Multi-Family Dwelling |
AMENITIES
UNIT AMENITIES
- Balcony
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | - | 500 - 550 |
PROPERTY TAXES
| Parcel Number | 476-531-05 | Improvements Assessment | $830,667 |
| Land Assessment | $569,159 | Total Assessment | $1,399,826 |
PROPERTY TAXES
Parcel Number
476-531-05
Land Assessment
$569,159
Improvements Assessment
$830,667
Total Assessment
$1,399,826
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