Pacific Coast Commercial | 6050 Santo Rd., Suite 200, San Diego, CA 92124 | www.PacificCoastCommercial.com | Lic. 01209930
4652 Wilson Avenue, San Diego, CA 92116 9 UNIT MULTIFAMILY APARTMENTS
T H E O F F E R I N G Not only does this Adams Avenue corridor 9-unit show great ‘pride of place’ it has undergone many capital improvements in the last 3 years: new roof, new windows and sliding doors all units, new cement walkways and parking pad, new garage doors, new exterior painting, new ext. LED lighting, and many others. Unit mix: FOUR 1 bed/1 bath, FOUR 2 bed/1 bath and ONE 2 bed/2 bath - all leased below current market rates. The units are super clean as is the common area and the building exterior. There are 14 parking spaces on premises (garage and tandem). The property is located around the corner from the heart of the Adams Avenue business district with a Walk Score of 89. A true city neighborhood, the area is served by both staple and eclectic businesses along with great cafes, restaurants, breweries, retail shops, music venues and more. Add neighborhood amenities like the Adams Avenue Unplugged music fest and the 17th annual Taste of Adams Avenue. This is a terrific property in a fabulous part of town.
Priced at $2,575,000
Move in Lease 14 Parking
Unit Rent Beds / Baths Size Next Due Security Dep Month Termination Spaces
1 $1,400 2 bed / 1 bath 850 sf 10/1/2017 $1,400 6/17/2017 6/30/2018 2 tandem
2 $1,000 1 bed / 1 bath 750 SF 10/1/2017 $950 4/1/2014 9/30/2018 2 tandem
3 $1,400 2 bed / 1 bath 850 SF 10/1/2017 $1,400 11/4/2016 11/30/2017 2 tandem
4 $1,050 1 bed / 1 bath 750 SF 10/1/2017 $1,000 9/1/2015 8/31/2018 single garage
5 $1,400 2 bed / 1 bath 850 SF 10/1/2017 $1,400 6/24/2017 6/30/2018 2 tandem
6 $1,050 1 bed / 1 bath 750 SF 10/1/2017 $1,000 6/1/2016 11/30/2017 none
7 $1,500 2 bed / 1 bath 850 SF 10/1/2017 $1,500 10/1/2017 10/31/2018 2 tandem
8 $1,175 1 bed / 1 bath 750 SF 10/1/2017 $1,175 7/2/2017 7/31/2018 single off alley
9 $1,650 2 bed / 2 baths 1,100 SF 10/1/2017 $1,600 4/1/2015 4/30/2018 2-car garage $11,625
Gas & Electric paid by tenants. Parking included in rent
P R O P E R T Y & F I N A N C I A L S U M M A R Y
Capital Improvements - 2014-2016
Item Year - Month New Concrete walkway and parking pad 13-Feb
Railings upgraded to Code 13-Mar
New Heaters (units 3,7,9) 13-Jan
New Kitchen Sinks (units 2,6) 14-Apr
New Garage Doors & Openers 14-Mar
New Sliding Doors and Windows All units 2014-2016
Outdoor Lighting LED 15-Oct
Remove old cable & Install new cable 16-Jul Remove old exterior wiring & Install new ext. electrical wiring 16-Aug
Roof - Elastomeric with 20-yr. warranty 16-Aug
Exterior Painting and Detail 16-Sep
New Insulation on hot water pipes 16-Aug
Income & Expense Proforma
Proforma 2018 Gross Scheduled Income (GSI) $144,400
Less Vacancy (3%) $4,332
$140,068
Operating Expenses (Tax Rate= 1.16967) $48,211
$91,857 Net Operating Income (NOI)
Property Overview
Community: Normal Heights
APN: 440-570-41-00
Lot Size: 7,637 Square Feet
Improvements: 7,036 Square Feet
Zoning: R-3 Multiple Restricted
Year Built: 1969
Highlights
(5) 2 Bedroom Units - (4) 1 Bedroom Units
Large Floorplans
Substantially Renovated
Washer & Dryer On-Site
Very Well Kept
Quiet Neighborhood
Adjacent to Thriving Adams Avenue Neighborhood
12 Mins Drive to Downtown San Diego with Easy Freeway Access
Office (619) 469-3600 | 6050 Santo Rd., Suite 200, San Diego, CA 92124 | www.PacificCoastCommercial.com | Lic. 01209930
Office (619) 469-3600 | 6050 Santo Rd., Suite 200, San Diego, CA 92124 | www.PacificCoastCommercial.com | Lic. 01209930
6050 Santo Rd., Suite 200, San Diego, CA 92124 | www.PacificCoastCommercial.com | Lic. 01209930
Pacific Coast Commercial | 6050 Santo Rd., Suite 200, San Diego, CA 92124 | www.PacificCoastCommercial.com | Lic. 01209930
P R O P E R T Y P H OTO S
Office (619) 469-3600 | 6050 Santo Rd., Suite 200, San Diego, CA 92124 | www.PacificCoastCommercial.com | Lic. 01209930
Office (619) 469-3600 | 6050 Santo Rd., Suite 200, San Diego, CA 92124 | www.PacificCoastCommercial.com | Lic. 01209930
6050 Santo Rd., Suite 200, San Diego, CA 92124 | www.PacificCoastCommercial.com | Lic. 01209930
Pacific Coast Commercial | 6050 Santo Rd., Suite 200, San Diego, CA 92124 | www.PacificCoastCommercial.com | Lic. 01209930
P R O P E R T Y P H OTO S
LO C AT I O N O V E R V I E W
APN # 440-570-41-00
Adams Park
ADAMS AVENUE
MADISON AVENUE
WIL
SO
N A
VE
NU
E
R E N T C O M PA R A B L E S
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Unit Mix 1 bed / 1 bath 1 bed / 1 bath
2 bed / 1 bath
1 bed /1 bath
2 bed /1 bath
1 bed /1 bath
2 bed /1 bath
1 bed /1 bath
2 bed /1 bath
1 bed /1 bath
2 bed /1 bath
Unit Rent $1,250 $1,450
$1,650 - $1,800
$1,225 - $1,425
$1,995
$1,500
$1,800
$1,200 - $1,450
$1,700
$1,516
$1,743
9 UNIT MULTIFAMILY APARTMENTS 4652 Wilson Avenue, San Diego, CA 92116
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information including zoning and use should be verified prior to purchase.
Pacific Coast Commercial | 6050 Santo Rd., Suite 200, San Diego, CA 92124 | www.PacificCoastCommercial.com | Lic. 01209930
