$1,750,000

3206 Reynard Way

San Diego CA, 92103

Description

OPPORTUNITY: The in-place rents are far below market. A future buyer can increase revenue by bringing the rents closer to market. Current market rent is estimated to be $1,600 per month. The pro-forma cap rate is 4.7% and the pro-forma GRM is 15. PROPERTY DESCRIPTION: This is a very well located apartment project improved with six studio units in two separate structures. The project was built in 1958 and there are a total of six off-street parking spots. Five of the six apartments have been renovated. The non-renovated unit is clean and in good rentable condition. The units are easy to lease and the project seldom has vacancy. On average the units are 448 square feet each (totaling 2,685 square feet). The property has an on-site laundry room and a coin operated washer & dryer. The Landlord pays for water and the tenants pay all other utilities direct to the provider.

Details

MLS#NDP2002937
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
StatusActive
Year1957
Days On Site145

Features

SQ Feet2,685
Story(s)1
Units6
ZoningRM 3-9 (high density res

Market Activity 92103

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Area Information
StateCA
CountySan Diego
CitySan Diego
Zip Code92103
Area92103 - Mission Hills
Listing VS Median (in 92103)
Price:
$1,750,000
low | high
Med:
$999,997
92.857314285714% of Average
SqFt:
2,685
low | high
Med:
676
100% of Average
$ / SqFt:
$652
low | high
Med:
$370
93.258721153846% of Average
On Site:
145
low | high
Med:
112
100% of Average
Sourced by Back At You
Listing Updated: February 25, 2021 3:47:31 PM PST
Tommy Crudo LogoMLS Number: NDP2002937
Listing Provided By:
Tommy Crudo  of  Willis Allen Real Estate
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.