4 Units | 4017 49th Street, San Diego , CA, 92105
OFFER
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MEM
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4 UnitsCONTENTS
We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.
01 Executive Summary Investment Summary 5 Unit Mix Summary 6 Location Summary 7
02 Property Description Property Features 9 Aerial Map 10 Property Images 11
03 Financial Analysis Income & Expense Analysis 22 Cash Flow Analysis 23 4017 49th St 92105 (1) 25
04 Demographics Demographics 27 Demographic Charts 29
Exclusively Marketed by:
Jason LeeAssociate858-336-9688 License # 02068011 [email protected]
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from South Coast Commercial Inc.and it should not be made available to any other person or entity without the written consent of South Coast Commercial Inc..
By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees thatrecipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to South CoastCommercial Inc.. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence investigation. South Coast Commercial Inc. has not made any investigation, and makes no warranty orrepresentation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property andimprovements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvementsthereon, or financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.
The information contained in this offering memorandum has been obtained from sources we believe reliable; however, South Coast Commercial Inc. has not verified, and will not verify, any of theinformation contained herein, nor has South Coast Commercial Inc. conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding theaccuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsiblefor their costs and expenses of investigating the subject property.
4 Units Confidentiality and Disclaimer | 03
CONFIDENTIALITY AND DISCLAIMER
PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT SOUTH COAST COMMERCIAL INC. FOR MORE DETAILS.Copyright © 2020 CREOP, LLC. All Rights Reserved.
4 Units | Executive Sum
mary
Executive Summary 4 U
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Investment Summary
Unit Mix Summary
Location Summary
4 Units Investment Summary | 05
OFFERING SUMMARYADDRESS 4017 49th Street
San Diego CA 92105COUNTY San DiegoMARKET San DiegoBUILDING SF 1,932LAND SF 6,378NUMBER OF UNITS 4YEAR BUILT 1951OWNERSHIP TYPE Fee Simple
FINANCIAL SUMMARYOFFERING PRICE $925,000PRICE PSF $478.78PRICE PER UNIT $231,250OCCUPANCY 97.00 %NOI (CURRENT) $47,159NOI (Pro Forma) $47,159CAP RATE (CURRENT) 5.10 %CAP RATE (Pro Forma) 5.10 %GRM (CURRENT) 13.29GRM (Pro Forma) 13.29
PROPOSED FINANCINGLOAN TYPEDOWN PAYMENT $250,000LOAN AMOUNT $675,000INTEREST RATE 4.25 %ANNUAL DEBT SERVICE $39,849LOAN TO VALUE 73 %
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2019 Population 59,226 265,077 661,7362019 Median HH Income $37,888 $55,277 $60,4742019 Average HH Income $57,828 $78,106 $84,108
South Coast Commercial is pleased to present the sale of 4017 49thStreet San Diego, CA 92105. The property was built in 1951 and iscomprised of (4) one-bedroom, one-bathroom units with a separate two-car garage. The units are approximately 483 square feet each on a 6,378square foot lot. This is a great opportunity to either occupy one of the unitsand rent out the remaining or purchase as a stabilized investment in oneof the strongest rental markets in the County.
Do not walk on property or disturb tenants as they are unaware of a sale.
4 Units Unit Mix Summary | 06
Actual MarketUnit Mix # Units Square Feet Current Rent Rent PSF Monthly Income Market Rent Market Rent PSF Market Income
1 bd + 1 ba 4 483 $1,450 $3.00 $5,800 $1,450 $3 $5,800
Totals/Averages 4 483 $1,450 $3.00 $5,800 $1,450 $3 $5,800
4 Units Location Summary | 07
Socially and economically, Central San Diego has a highconcentration businesses and households. Businesses tendto be smaller and wider spread than to the north and east.Like other urban mesa neighborhoods north of Balboa Park,Central San Diego has a high rate of pedestrian activity,relative to the rest of San Diego. Central San Diego islocated next to many of the major highways with closeaccess to the coast, beaches, business districts, downtown,and Mexico.
PLEASE DO NOT WALK ON THE PROPERTY ORDISTURB TENANTS.
Regional Map
Locator Map
4 Units | Property D
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Property Description 4 U
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Property Features
Aerial Map
Parcel Map
Additional Maps
Property Images
4 Units Property Features | 09
PROPERTY FEATURESNUMBER OF UNITS 4BUILDING SF 1,932LAND SF 6,378YEAR BUILT 1951# OF PARCELS 1TOPOGRAPHY FlatNUMBER OF STORIES 2NUMBER OF BUILDINGS 4PARKING RATIO 2:1NUMBER OF GARAGES (1) Two Car Garage
UTILITIESWATER OwnerTRASH OwnerGAS TenantELECTRIC TenantRUBS Tenant
CONSTRUCTIONFOUNDATION SlabFRAMING WoodEXTERIOR StuccoPARKING SURFACE ConcreteROOF Pitched/CompositeLANDSCAPING Mature
4 Units Aerial Map | 10
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4 Units | Financial A
nalysis
Financial Analysis 4 U
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Income & Expense
Multiyear Cash Flow Projections
4017 49th St 92105 (1)
4 Units Income & Expense Analysis | 22
INCOME CURRENT PRO FORMAGross Potential Income $69,600 $69,600
Less: General Vacancy $2,088 $2,088
Effective Gross Income $67,512 $67,512
Less: Expenses $20,353 $20,353
Net Operating Income $47,159 $47,159
EXPENSES CURRENT PRO FORMA
Gas & Electric $23 $90 $23 $90
Water & Sewer $600 $2,400 $600 $2,400
Landscaping $385 $1,540 $385 $1,540
Trash Removal $350 $1,400 $350 $1,400
Pest Control $150 $600 $150 $600
Maintenance $500 $2,000 $500 $2,000
Licenses & Fees $63 $250 $63 $250
Insurance $313 $1,250 $313 $1,250
Taxes $2,706 $10,823 $2,706 $10,823
Total Operating Expense $5,088 $20,353 $5,088 $20,353
Annual Debt Service $9,962 $39,849 $9,962 $39,849
Expense / SF $10.53 $10.53
% of EGI 30.15 % 30.15 %
Per Unit Per Unit
REVENUE ALLOCATION
DISTRIBUTION OF EXPENSES
4 Units Cash Flow Analysis | 23
CASH FLOWCalendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Gross Potential RevenueGross Rental Income $69,600 $69,600 $73,080 $76,734 $80,571 $84,599 $88,829 $93,271 $97,934 $102,831Gross Potential Income $69,600 $69,600 $73,080 $76,734 $80,571 $84,599 $88,829 $93,271 $97,934 $102,831General Vacancy $2,088 $2,088 $2,192 $2,302 $2,417 $2,538 $2,665 $2,798 $2,938 $3,085Effective Gross Income $67,512 $67,512 $70,888 $74,432 $78,154 $82,061 $86,164 $90,473 $94,996 $99,746Operating ExpensesGas & Electric $90 $90 $93 $95 $98 $101 $104 $107 $111 $114Water & Sewer $2,400 $2,400 $2,472 $2,546 $2,623 $2,701 $2,782 $2,866 $2,952 $3,040Landscaping $1,540 $1,540 $1,540 $1,540 $1,540 $1,540 $1,540 $1,540 $1,540 $1,540Trash Removal $1,400 $1,400 $1,442 $1,485 $1,530 $1,576 $1,623 $1,672 $1,722 $1,773Pest Control $600 $600 $618 $637 $656 $675 $696 $716 $738 $760Maintenance $2,000 $2,000 $2,060 $2,122 $2,185 $2,251 $2,319 $2,388 $2,460 $2,534Licenses & Fees $250 $250 $258 $265 $273 $281 $290 $299 $307 $317Insurance $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250Taxes $10,823 $10,823 $10,823 $10,823 $10,823 $10,823 $10,823 $10,823 $10,823 $10,823Total Operating Expense $20,353 $20,353 $20,555 $20,763 $20,978 $21,199 $21,427 $21,661 $21,902 $22,151Net Operating Income $47,159 $47,159 $50,332 $53,669 $57,176 $60,862 $64,738 $68,812 $73,094 $77,595Annual Debt Service $39,849 $39,849 $39,849 $39,849 $39,849 $39,849 $39,849 $39,849 $39,849 $39,849Cash Flow $7,310 $7,310 $10,483 $13,819 $17,326 $21,013 $24,889 $28,962 $33,245 $37,746
Effective Gross Income vs Operating Expenses Cash Flow
4 Units Cash Flow Analysis | 24
Calendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Financial MetricsCash on Cash Return b/t 2.92 % 2.92 % 4.19 % 5.53 % 6.93 % 8.41 % 9.96 % 11.59 % 13.30 % 15.10 %CAP Rate 5.10 % 5.10 % 5.44 % 5.80 % 6.18 % 6.58 % 7.00 % 7.44 % 7.90 % 8.39 %Debt Coverage Ratio 1.18 1.18 1.26 1.35 1.43 1.53 1.62 1.73 1.83 1.95Operating Expense Ratio 30.14 % 30.14 % 28.99 % 27.89 % 26.84 % 25.83 % 24.86 % 23.94 % 23.05 % 22.20 %Gross Multiplier (GRM) 13.29 13.29 12.66 12.05 11.48 10.93 10.41 9.92 9.45 9.00Loan to Value 73.00 % 73.00 % 72.95 % 72.95 % 72.96 % 72.98 % 72.99 % 72.98 % 72.95 % 72.98 %Breakeven Ratio 89.17 % 89.17 % 85.21 % 81.43 % 77.83 % 74.39 % 71.12 % 67.99 % 65.00 % 62.16 %Price / SF $478.78 $478.78 $478.78 $478.78 $478.78 $478.78 $478.78 $478.78 $478.78 $478.78Price / Unit $231,250 $231,250 $231,250 $231,250 $231,250 $231,250 $231,250 $231,250 $231,250 $231,250Income / SF $34.94 $34.94 $36.69 $38.52 $40.45 $42.47 $44.59 $46.82 $49.16 $51.62Expense / SF $10.53 $10.53 $10.63 $10.74 $10.85 $10.97 $11.09 $11.21 $11.33 $11.46
# Units Zip
4 92105
Current Market Current Market13.3 13.3 5.1% 5.1%
Gross Sq. Ft. Parcel Size(Approx.) (Approx.) (Approx.)$478.78 1932 6,378
# Units Type Rent TotalRent Range
Gas & Electric $90 Licenses & Fees $250Water & Sewer $2,400 Miscellaneous $0
4 1Br/1Ba $1,450 $5,800 Landscaping $1,540 Reserves $0Trash Removal $1,400 Pool $0Pest Control $600 Insurance $1,250
Total Monthly Income $5,800 Maintenance $2,000 Taxes $10,823
Total Annual Operating Expenses (estimated): $20,353
Expenses Per: Unit $5,088% of Actual GSI 29%
4 1Br/1Ba $1,450 $5,800
Total Monthly Income $5,800Estimated Annual Operating Proforma Financing Summary
Actual MarketGross Scheduled Income $69,600 $69,600 Downpayment: $250,000Less: Vacancy Factor 3% $2,088 $2,088 27%Gross Operating Income $67,512 $67,512 Interest Rate: 4.250%Less: Expenses 29% $20,353 $20,353 Amortized over: 30 YearsNet Operating Income $47,160 $47,160 Proposed Loan Amount: $675,000
Less: 1st TD Payments ($39,847) ($39,847) Debt Coverage Ratio:Current: 1.18
Pre-Tax Cash Flow $7,312 $7,312 Market: 1.18Cash On Cash Return 2.9% 2.9%Principal Reduction $11,380 $11,380Total Potential Return (End of Year One) 7% 7%
Jason Lee | [email protected] | www.jleecre.com DRE#02068011
advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
Income Detail
Estimated Market Rents
Estimated Actual Average Rents
The information contained herein has been obtained from sources believed reliable. While South Coast Commercial does not doubt its accuracy, we have not verified it and make no guarantee,
warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for
example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax, financial and legal advisors. You and your
Comments
4017 49th St
$/Square Foot
$231,250
Estimated Annual Operating Expenses
Yr. Built(Approx.)
1951
Map Code
$925,000
APARTMENT INVESTMENT INFORMATION
Address CitySan Diego
GRM CAP Rate$/UnitPrice
CASHFLOWANALYSIS
4 Units 4017 49th St 92105 (1) | 25
4 Units | D
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Demographics 4 U
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Demographic Details
Demographic Charts
4 Units Demographics | 27
POPULATION 1 MILE 3 MILE 5 MILE
2000 Population 59,540 257,192 611,779
2010 Population 57,040 253,104 622,586
2019 Population 59,226 265,077 661,736
2024 Population 60,609 272,818 687,531
2019 African American 7,455 31,668 72,265
2019 American Indian 446 2,136 4,965
2019 Asian 12,535 33,096 79,882
2019 Hispanic 30,998 112,416 268,587
2019 Other Race 16,652 56,093 129,008
2019 White 19,264 125,451 332,472
2019 Multiracial 2,729 15,423 39,199
2019-2024: Population: Growth Rate 2.30 % 2.90 % 3.85 %
2019 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE
less than $15,000 3,169 10,265 25,043
$15,000-$24,999 2,820 9,491 21,908
$25,000-$34,999 2,706 10,250 22,759
$35,000-$49,999 2,913 13,626 30,610
$50,000-$74,999 2,967 18,392 45,199
$75,000-$99,999 1,630 11,708 31,763
$100,000-$149,999 1,528 13,664 38,900
$150,000-$199,999 473 4,946 15,460
$200,000 or greater 654 5,489 15,546
Median HH Income $37,888 $55,277 $60,474
Average HH Income $57,828 $78,106 $84,108
HOUSEHOLDS 1 MILE 3 MILE 5 MILE
2000 Total Housing 19,072 97,655 229,741
2010 Total Households 18,163 93,624 230,922
2019 Total Households 18,861 97,830 247,189
2024 Total Households 19,268 100,627 258,311
2019 Average Household Size 3.11 2.66 2.60
2000 Owner Occupied Housing 3,904 35,132 88,715
2000 Renter Occupied Housing 14,459 59,315 132,837
2019 Owner Occupied Housing 4,085 35,284 94,722
2019 Renter Occupied Housing 14,776 62,546 152,467
2019 Vacant Housing 1,105 5,098 15,275
2019 Total Housing 19,966 102,928 262,464
2024 Owner Occupied Housing 4,254 36,502 98,489
2024 Renter Occupied Housing 15,014 64,126 159,822
2024 Vacant Housing 1,126 5,061 15,415
2024 Total Housing 20,394 105,688 273,726
2019-2024: Households: Growth Rate 2.15 % 2.85 % 4.40 %
Source: esri
4 Units Demographics | 28
2019 POPULATION BY AGE 1 MILE 3 MILE 5 MILE
2019 Population Age 30-34 4,646 22,727 59,351
2019 Population Age 35-39 4,112 19,977 50,692
2019 Population Age 40-44 3,615 16,793 41,093
2019 Population Age 45-49 3,451 16,137 39,324
2019 Population Age 50-54 3,062 14,924 37,117
2019 Population Age 55-59 2,757 14,257 36,869
2019 Population Age 60-64 2,343 12,458 32,950
2019 Population Age 65-69 1,881 10,025 26,618
2019 Population Age 70-74 1,422 7,165 20,043
2019 Population Age 75-79 936 4,576 13,748
2019 Population Age 80-84 581 3,051 9,616
2019 Population Age 85+ 606 3,775 11,440
2019 Population Age 18+ 42,515 206,579 522,023
2019 Median Age 30 33 34
2019 INCOME BY AGE 1 MILE 3 MILE 5 MILE
Median Household Income 25-34 $41,975 $56,629 $63,050
Average Household Income 25-34 $62,302 $76,594 $83,291
Median Household Income 35-44 $41,877 $64,286 $73,967
Average Household Income 35-44 $62,715 $87,518 $95,206
Median Household Income 45-54 $46,143 $66,383 $74,799
Average Household Income 45-54 $65,459 $91,294 $100,177
Median Household Income 55-64 $39,104 $59,122 $65,136
Average Household Income 55-64 $59,798 $83,199 $89,525
Median Household Income 65-74 $28,200 $46,587 $51,373
Average Household Income 65-74 $46,594 $70,512 $75,501
Average Household Income 75+ $37,930 $53,792 $54,813
2024 POPULATION BY AGE 1 MILE 3 MILE 5 MILE
2024 Population Age 30-34 5,035 23,012 61,676
2024 Population Age 35-39 4,302 20,431 53,229
2024 Population Age 40-44 3,775 18,280 46,424
2024 Population Age 45-49 3,289 15,755 39,215
2024 Population Age 50-54 3,171 15,248 37,962
2024 Population Age 55-59 2,812 14,067 35,595
2024 Population Age 60-64 2,471 13,125 34,574
2024 Population Age 65-69 2,037 11,153 30,139
2024 Population Age 70-74 1,571 8,461 23,585
2024 Population Age 75-79 1,136 6,051 17,748
2024 Population Age 80-84 689 3,670 11,185
2024 Population Age 85+ 608 3,778 11,834
2024 Population Age 18+ 44,208 214,414 546,961
2024 Median Age 31 34 35
2024 INCOME BY AGE 1 MILE 3 MILE 5 MILE
Median Household Income 25-34 $48,754 $66,645 $76,415
Average Household Income 25-34 $71,626 $90,342 $98,779
Median Household Income 35-44 $49,557 $78,377 $86,013
Average Household Income 35-44 $75,317 $103,614 $112,342
Median Household Income 45-54 $52,686 $78,548 $88,012
Average Household Income 45-54 $75,874 $106,956 $118,195
Median Household Income 55-64 $46,858 $68,053 $76,236
Average Household Income 55-64 $71,252 $98,148 $105,645
Median Household Income 65-74 $33,309 $55,154 $59,707
Average Household Income 65-74 $56,964 $85,611 $91,056
Average Household Income 75+ $46,072 $65,792 $67,181
4 Units Demographic Charts | 29
1 Mile Radius 3 Mile Radius 5 Mile Radius
2019 Household Income
1 Mile Radius 3 Mile Radius 5 Mile Radius
2019 Population by Race
4 Units Demographic Charts | 30
2019 Household Occupancy - 1 Mile Radius
Average Income Median Income
2019 Household Income Average and Median
4 Units
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Exclusively Marketed by:
Jason LeeAssociate858-336-9688 License # 02068011 [email protected]