$4,500,000

  • COMMERCIAL-RES INCOME
  • SOLD
  • MLS# 170062793

Description

1449-55 and 1457-63 Felspar Street, 92109 (Property), features two newer/well-maintained adjacent mirror-image four-plexes, built in 1990. The Property has eight (8) units totalling around 10,514 SF of building, comprised of the following: Two (2) 2br/2.5 ba townhome-units; Two (2) 3br/2ba units; and Four (4) 3br/2.5ba townhome-units. There are six two-car (tandem) garages, two one-car garages, and two covered parking spaces (16 total parking spaces), as well as gated entry (front and rear) to central landscaped courtyard, from where all units are accessed. Both two-story buildings were built upon a concrete on grade foundation of wood-frame construction, with stucco exterior fascia, pitched Spanish-tile roofs and metal doors. Units are separately metered for gas and electricity (for very low common area electric costs), and feature private patios/balconies, in-unit washer/dryer hookups, central heat, ceiling fan/light fixtures, fireplaces, tile flooring in kitchens and bathrooms, and carpeted bedrooms.

Property Details

Property type:
Commercial-Res Income
Age of Building:
1989
Number of Buildings:
2
Number of Stories:
2
Number of Units w/Garage:
8
Number of Carports:
2
Total Number of Parking Spaces:
16

Location

County:
San Diego

Additional Details

Number of Units:
8
Number of Leased Apartments:
8
Number of Stories:
2
Total Monthly Rent:
$21,700
Price Per Unit:
$587,500
Down Payment:
$2,350,000
Gross Equity:
$4,700,000
Existing Finance:
Clear
SqFt of Improvement:
10,514
Lot Size:
.25 through .50 Acres
Assessors Parcel #:
423-091-06-00
Tenant Pays Gas:
Yes
Tenant Pays Electric:
Yes
Units with Dishwasher:
8
Units with Disposals:
8
Units with Ranges:
8
Units with Refrigerator:
8
Exterior:
Auto Front Sprinklers, Part Fenced, Part Landscaped
Heating Equipment:
Central Forced Air Gas
Roof:
Tile
Parking:
Carports, Garages

Unit Details

Unit 1
Number of Units:
2
Number of Bedrooms:
2
Number of Baths:
3
Rent:
$2,500
Unit Rental Total:
$5,000
Unit 2
Number of Units:
2
Number of Bedrooms:
3
Number of Baths:
2
Rent:
$2,750
Unit Rental Total:
$5,500
Unit 3
Number of Units:
4
Number of Bedrooms:
3
Number of Baths:
3
Rent:
$2,800
Unit Rental Total:
$11,200

Features

Floor Coverings:
Tile
Construction Features:
Drywall, Stucco

Listing provided by

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