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6.32% Current Cap, $209K/Unit 3860 45th St 5 Unit Apartment Building $1,420,678 CAD ($284,136 CAD/Unit) 6.32% Cap Rate San Diego, CA 92105
Investment Highlights
- Strong In-Place Cap Rate (6.32%) and Low GRM (10.44)
- Low Price / Unit at $209K/Unit
- Has Upside in Rent and Ability to Add Value
- A Few Unit Have Recent Upgrades
Executive Summary
Best-priced deal on the market, low $/Unit at only $209K/Unit with a strong in-place 6.32% Cap Rate and 10.44 GRM w/ upside.
5 units located in the City Heights submarket of San Diego with many recent upgrades, this offering boasts a strong in-place cap rate with future upside my updating a couple of the units. The unit mix consists of a 2Bedroom/2Bathroom unit, a spacious detached 1Bedroom/1Bathroom house, two 1Bedroom/1Bathroom units that are in a stacked two-story structure in the middle of the property and a smaller 1Bedroom/1Bathroom unit in the rear of the property.
ProForma Cap Rate: 7.34% and ProForma GRM: 9.36
Contact listing agent for more details.
5 units located in the City Heights submarket of San Diego with many recent upgrades, this offering boasts a strong in-place cap rate with future upside my updating a couple of the units. The unit mix consists of a 2Bedroom/2Bathroom unit, a spacious detached 1Bedroom/1Bathroom house, two 1Bedroom/1Bathroom units that are in a stacked two-story structure in the middle of the property and a smaller 1Bedroom/1Bathroom unit in the rear of the property.
ProForma Cap Rate: 7.34% and ProForma GRM: 9.36
Contact listing agent for more details.
Property Facts
| Price | $1,420,678 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $284,136 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.32% | Building Size | 2,800 SF |
| Gross Rent Multiplier | 10.44 | No. Stories | 2 |
| No. Units | 5 | Year Built | 1940 |
| Property Type | Multifamily | Parking Ratio | 0.71/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | CUPD-CT-5-4 | ||
| Price | $1,420,678 CAD |
| Price Per Unit | $284,136 CAD |
| Sale Type | Investment |
| Cap Rate | 6.32% |
| Gross Rent Multiplier | 10.44 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 2,800 SF |
| No. Stories | 2 |
| Year Built | 1940 |
| Parking Ratio | 0.71/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | CUPD-CT-5-4 |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $3,494 CAD | - |
| 1+1 | 4 | $2,090 CAD | - |
Very walkable
80/100
Very drivable
80/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 471-571-24 | Improvements Assessment | $282,895 CAD |
| Land Assessment | $227,868 CAD | Total Assessment | $510,763 CAD |
Property Taxes
Parcel Number
471-571-24
Land Assessment
$227,868 CAD
Improvements Assessment
$282,895 CAD
Total Assessment
$510,763 CAD
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6.32% Current Cap, $209K/Unit | 3860 45th St
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