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1614-20 Reed Ave.
Coastal South San Diego 92109

$3,625,000 /453125.0
Com-Res Income 6,243 sq. ft. built: 1958

Main Photo: Property for sale: 1614-20 Reed Ave. in San Diego
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Status:
Active
Prop. Type:
Com-Res Income
MLS® Num:
220024084
Year Built:
1958
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. Close to everything that makes Pacific Beach so desirable 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 below market. Property manager reports that all leases are month to month. The property is priced for quick sale. There is no distress and no debt. Most of the units have vinyl flooring, upgraded kitchens and baths, attractive new tile showers, stainless steel appliances, tasteful interior décor, and ceiling fans. Some units have not yet been renovated. Property is being sold As-Is.
Rental Amount:
13900
Price Per Unit:
453125.0
Total Floor Area:
6,243 sq. ft.
Lot Size:
6,098.4 sq. ft.
Lot Size Commercial:
.25 Acres or less
County:
San Diego
Market Area:
Coastal South
Number of Buildings:
1
Number of Units:
8
Num Stories:
2
Year Built:
1958
Cap Rate.:
2.2
Gross Multiplier:
21.7
Cash flow:
2323.0
Gross operating income:
160128
Gross scheduled income:
166800.0
Gardener expense:
2100
Gas / Electric expense:
4320
Insurance F&L expense:
3702
Maintainance expense:
8000
Management expense:
10008
Taxes expense:
42413
Trash expense:
3864
Operating expense:
80207
Water/Sewer expense:
5800
Total P&I pay:
77598.0
Vacancy & Credit Loss:
6672.0
Total expenses:
80207.0
Projected Cap Rate.:
2.6
Projected Gross Multiplier:
19.9
Projected cash flow:
16781.0
Projected gross operating income:
174586
Projected gross scheduled income:
181860
Projected net Income:
94379
Projected annual P&I expense:
77598
Projected gardener expense:
2100
Projected Gas / Electric expense:
4320
Projected insurance F&L expense:
3702
Projected maintainance expense:
8000
Projected management expense:
10008
Projected operating expense:
80207
Projected taxes expense:
42413
Projected trash expense:
3864
Projected Vacancy & Credit Loss:
7274.0
Projected Water/Sewer expense:
5800
Projected total expenses:
80207.0
Gross equity:
2392500
Motive / Want:
Cash out.
Short Sale:
No
Listing Type:
Exclusive Right (R)
Number of Carports:
0
Total Parking Spaces:
5
Number of Units with Garages:
0
Number of Units with Range/Oven:
8
Number of Units with Refrigerators:
8
Number of Leased Appartments:
8
Parcel Number:
424-152-23-00
Number of Units in Unit 1:
2
Unit 1 Furnished:
0
Total Rent for Unit 1:
3600.0
Bedrooms for Unit 1:
1
Bathroom 1:
1.0
Number of Units in Unit 2:
1
Unit 2 Furnished:
0
Total Rent for Unit 2:
1700.0
Bedrooms for Unit 2:
1
Bathroom 2:
1.0
Number of Units in Unit 3:
1
Unit 3 Furnished:
0
Total Rent for Unit 3:
1700.0
Bedrooms for Unit 3:
1
Bathroom 3:
1.0
Number of Units in Unit 4:
1
Unit 4 Furnished:
0
Total Rent for Unit 4:
1500.0
Bedrooms for Unit 4:
1
Bathroom 4:
1.0
Number of Units in Unit 5:
1
Unit 5 Furnished:
0
Total Rent for Unit 5:
2500.0
Bedrooms for Unit 5:
2
Bathroom 5:
1.0
Number of Units in Unit 6:
1
Unit 6 Furnished:
0
Total Rent for Unit 6:
1800.0
Bedrooms for Unit 6:
2
Bathroom 6:
1.0
Number of Units in Unit 7:
2
Unit 7 Furnished:
0
Total Rent for Unit 7:
2800.0
Bedrooms for Unit 7:
2
Bathroom 7:
1.0
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Listed by Apartment Consultants, Inc.
Data was last updated September 30, 2022 at 11:10 AM (UTC)
Area Statistics
Listings on market:
46
Avg list price:
$3,097,500
Min list price:
$598,000
Max list price:
$17,000,000
Avg days on market:
65
Min days on market:
2
Max days on market:
912
Avg price per sq.ft.:
$431.62
These statistics are generated based on the current listing's property type and located in San Diego. Average values are derived using median calculations.
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego Multiple Listing Service, Inc. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2022 San Diego Multiple Listing Service, Inc.