This charming property in the popular walkable community of Hillcrest consists of three rental units in the front house, two separate cottages in the rear, a laundry room and is zoned RM-3-9. The Hall-Sherman house, built in 1891, is designated as a Historical Landmark, allowing owners to benefit from property tax relief under the Mills Act. This tax benefit is transferred to the new owner upon sale. The Victorian home maintains its original moldings, doorknobs, fireplace surround, and hardwood floors in most areas. A new roof and white picket fence were installed in 2017, and the front and rear faÃƒÂ§ades were repainted in March 2022. Foundation upgrades completed include additional posts, piers, bolting, and cross-bracing. One of the cottages was completely renovated in 2020 with new windows, paint, carpet, heater, and handrail. The 2 bedroom/1 bath downstairs unit will be vacant by the end of May and new rent is expected to be $2,500 by close of escrow. Seller pays water for all 5 units, electricity for 3 units and gas for 1 unit. Buyer could sub-meter the property to have tenants pay utility costs.

Sq Ft Of Improvement 3402 Units With Ranges 5 Units With Refrigerators 5

Actual Cap Rate 3.0 Actual Cash Flow 11391 Actual Fl Ins Expense 1722 Actual Gardener Expense 1650 Actual Gas And Electric 3940 Actual Gross Operating Income 92678 Actual Gross Scheduled Income 96540.0 Actual Maintenance Expense 5000 Actual Operating Expense 26233 Actual Prop Management 4634 Actual Taxes Expense 6153 Actual Total Expense 26233 Actual Total Pi Pay 55054 Actual Vacancy And Credit Loss 3862 Actual Water Sewer Expense 3134 Assumable Finance 0 Buildings 3 Fiscal Year From 21 Fiscal Year To 22 Gross Equity 1253250 Gross Multiplier 23.3 Have 5 Units To Sell Leased Apartments 5 Mandatory Remarks None Known Market Area Metro Uptown Monthly Rent Total 8030 Motive Want Cash Out Other Income Actual 180 Other Income Amount 15 Other Income Source Laundry Projected Annual Pi Expense 55054 Projected Cap Rate 3.3 Projected Cash Flow 19681 Projected Fl Ins Expense 1722 Projected Gardener Expense 1722 Projected Gas And Electric 3940 Projected Gross Multiplier 21.4 Projected Gross Operating Inc 100969 Projected Gross Scheduled Inc 105176 Projected Maintenance Expense 5000 Projected Net Income 74736 Projected Operating Expense 26233 Projected Other Income 180 Projected Property Mgmt Expense 4634 Projected Taxes Expense 6153 Projected Total Expense 26233 Projected Vacancy And Credit Loss 4207 Projected Water And Sewer Expense 3134 Short Sale No Unit Number1 1 Unit Number2 1 Unit Number3 1 Unit Number4 1 Unit Number5 1 Unit Rent Total1 2500 Unit Rent Total2 1795 Unit Rent Total3 1385 Unit Rent Total4 1230 Unit Rent Total5 1120 Unit Rent1 2500 Unit Rent2 1795 Unit Rent3 1385 Unit Rent4 1230 Unit Rent5 1120

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3718-24 1st Ave.

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3718-24 1st Ave. San Diego, CA 92103

Property Description

Sq Ft Of Improvement	3402
Units With Ranges	5
Units With Refrigerators	5

Actual Cap Rate	3.0
Actual Cash Flow	11391
Actual Fl Ins Expense	1722
Actual Gardener Expense	1650
Actual Gas And Electric	3940
Actual Gross Operating Income	92678
Actual Gross Scheduled Income	96540.0
Actual Maintenance Expense	5000
Actual Operating Expense	26233
Actual Prop Management	4634
Actual Taxes Expense	6153
Actual Total Expense	26233
Actual Total Pi Pay	55054
Actual Vacancy And Credit Loss	3862
Actual Water Sewer Expense	3134
Assumable Finance	0
Buildings	3
Fiscal Year From	21
Fiscal Year To	22
Gross Equity	1253250
Gross Multiplier	23.3
Have	5 Units To Sell
Leased Apartments	5
Mandatory Remarks	None Known
Market Area	Metro Uptown
Monthly Rent Total	8030
Motive Want	Cash Out
Other Income Actual	180
Other Income Amount	15
Other Income Source	Laundry
Projected Annual Pi Expense	55054
Projected Cap Rate	3.3
Projected Cash Flow	19681
Projected Fl Ins Expense	1722
Projected Gardener Expense	1722
Projected Gas And Electric	3940
Projected Gross Multiplier	21.4
Projected Gross Operating Inc	100969
Projected Gross Scheduled Inc	105176
Projected Maintenance Expense	5000
Projected Net Income	74736
Projected Operating Expense	26233
Projected Other Income	180
Projected Property Mgmt Expense	4634
Projected Taxes Expense	6153
Projected Total Expense	26233
Projected Vacancy And Credit Loss	4207
Projected Water And Sewer Expense	3134
Short Sale	No
Unit Number1	1
Unit Number2	1
Unit Number3	1
Unit Number4	1
Unit Number5	1
Unit Rent Total1	2500
Unit Rent Total2	1795
Unit Rent Total3	1385
Unit Rent Total4	1230
Unit Rent Total5	1120
Unit Rent1	2500
Unit Rent2	1795
Unit Rent3	1385
Unit Rent4	1230
Unit Rent5	1120