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Building Your Wealth Through Apartment Investments Norm Root - DRE# 00591659 3 VIEW UNITS - SOUTH MISSION HILLS 3343-47 Columbia Street, San Diego, CA 92103 (619) 725-3662 [email protected]
Property Description & Amenities
Building Your Wealth Through Apartment
InvestmentsNorm Root - DRE# 00591659
3 VIEW UNITS - SOUTH MISSION HILLS3343-47 Columbia Street, San Diego, CA 92103
(619) 725-3662 [email protected]
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
3343-47 Columbia Street, San Diego, CA 92103
TABLE OF CONTENTS
Property Overview - 1
Overview Map - 2
Property Photos - 3
Area Description - 5
Rent Comparables - 6
Sales Comparables - 8
Executive Summary - 9
3343-47 COLUMBIA STREET
3,300 Sq.Ft.
Year Built 1936
# of Units 3
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
THE OPPORTUNITY3343-47 Columbia Street is a well-located South Mission Hills 3 -unit property.
Originally owner built for their own residence with two additional units, the
property has a larger 2BR/1.5BA owner’s unit with full basement downstairs, living
room, kitchen, dining area and ½ bath on the main level, and two bedrooms
and a full bath on the upper level. All units have unobstructed 180-degree views
of San Diego Bay, Point Loma and downtown. The current owner has also added
a common area laundry for the residents. The property parks eight cars,
including garages. The rear owner’s unit also has a private yard for their own use.
Solid ADU opportunity converting full basement. Call broker for details.
DETAILSProperty Address
Assessor Parcel # 451-533-03
Lot Size 5,187 Sq.Ft.
Building Size
Unit Mix
3343-47 Columbia Street
1 - 2 BR/1.5 BA, +Basement
2 - 2 BR/1 BA
Building Your Wealth Through
Apartment Investments
3343-47 Columbia St, San Diego, CA 92103
PROPERTY OVERVIEW
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
3343-47 Columbia St, San Diego, CA 92103
OVERHEAD MAP
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
3343-47 Columbia St, San Diego, CA 92103
EXTERIOR PHOTOS
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
3343-47 Columbia St, San Diego, CA 92103
INTERIOR PHOTOS
MISSION HILLS
Mission Hills derives its name from the hilly location just south of the San Diego River valley that houses this
community. The neighborhood overlooking much of Old Town, Downtown San Diego, and San Diego Bay, it
was subdivided on January 20, 1908 as a smaller portion of what is now referred to as Mission Hills. The City of
San Diego describes Mission Hills as being the area north of Horton Avenue, South of Mission Valley, West of
Dove Street, and East of the Old Town community area. Mission Hills is part of the 92103 zip code area. It
shares this zip code with Hillcrest, a neighborhood of San Diego East of Dove Street. It is part of the Uptown
community planning area.©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
3343-47 Columbia St, San Diego, CA 92103
LOCATION OVERVIEW
ZIP
92103
92103
92103
92103
92103
2961 Columbia St $2,595 915 $2.84 2BR / 2BA
ADDRESS RENT UNIT SQFT RENT PER SQFT UNIT MIX
1
3407 Union St $2,295 850 $2.70 2BR / 1BA
445 West University $2,250 850 $2.65 2BR / 2BA
2
4064 Front St $2,845 1080 $2.63 2BR / 2.5BA
3
4
3343-47 Columbia St
$2,295 $2,563
AVERAGES 2BR/1BA Rent Avg 2BR/2BA Rent Avg
S
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
3343-47 Columbia Street, San Diego, CA 92103
RENT COMPARABLES
1
3
4
5
S
S)
1) 2) 3) 4)
MAP LEGEND3343-47 Columbia St
2961 Columbia St 3407 Union St 445 West University 4064 Front St
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
3343-47 Columbia Street, San Diego, CA 92103
RENT COMPARABLES
Place Map Over
ADDRESS
YR BUILT
UNITS
PRICE
PRICE/UNIT
BLDG/SF
$/SF
UNIT MIX
SOLD DATE
GRM
NOTES
Averages4095 Front St 3343-47 Columbia St.2530 Albatross St 3424 State St 2619-21 Columbia St92103 9210392101 92103 92103
4 S1 2 3
3 32 2 2 21930 19361940 1985 1928
$462,166 $528,333$600,000 $500,000 $550,000 $528,042$1,386,500 $1,585,000$1,200,000 $1,000,000 $1,100,000 $1,171,625
$475 $503$428 $357 $723 $4962916 28002800 2800 1520 2509
2 - 2 BR / 1 BA1 - 1 BR / 1 BA 2 - 2 BR / 1 BA 2 - 2 BR / 1 BA 1 - 3 BR / 2 BA
1 - 2 BR / 2 BA
1 - 3 BR / 1 BA 1 - 2 BR / 1.5 BA1 - 1 BR / 1 BA
16.60 18.8221.70 22.30 22.90 20.881/15/2020 N/A9/12/2019 10/24/2019 3/24/2020
No views. Double garage.
Difficult st. parking 1400 Sq.ft units
Same neighborhood.
Inferior St/Curb appeal
Similar location. One unit
upgraded.
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
4
Building Your Wealth Through
Apartment Investments
3343-47 Columbia Street, San Diego, CA 92103
SALES COMPARABLES
1 2 S
S)
1) 2) 3) 4)
MAP LEGEND3343-47 Columbia St.
2530 Albatross St 3424 State St 2619-21 Columbia St 4095 Front St
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
3343-47 Columbia Street, San Diego, CA 92103
SALES COMPARABLES
# Units Address City Lot Size
3 3343-47 Cloumbia Street San Diego 5,187
GRM Rentable
Current Market Current Market $ / Unit $ / Sq Ft Sq Ft
18.82 18.42 4.11% 3.20% $528,333 $503.17 approx 3150
Estimated Average Monthly Income Analysis Estimated Operating Expenses
No. Floor Plan Rent Total Market Total Actual Proforma
1 2 Br /1.5 Ba $2,670 $2,670 $2,670 $2,670 Mgt-Off Site Owner Mgt-Of Site $0
1 2 Br / 1 Ba $2,100 $2,100 $2,100 $2,100 Mgt-On Site Mgt-On Site $0
1 2 Br / 1 Ba $2,250 $2,250 $2,400 $2,400 Gas & Elec. $0 Gas & Elec. $0
Wtr & Swr $2,057 Wtr & Swr $2,057
Landscaping $2,620 Landscaping $1,800
Trash $0 Trash $0
Pest Control $0 Pest Control $0
Maintenance $5,442 Maintenance $5,782
Miscellaneous Miscellaneous
Insurance $2,770 Insurance $2,770
3 Actual $7,020 Market $7,170 Taxes $2,034 Taxes $17,911
Laundry Income Licenses & Fees $0 Liscenses & Fees $0
Forfeited deposits Pool $0 Pool $0
Reserves $750 Reserves $750
Total Monthly Other Income $0 $0 Total $15,673 Total $31,069
Total Rental & Other Income $7,020 $7,170 Total Per Est Sq Ft: $4.98 Total Per Est Sq Ft: $9.86
Total Per Unit: $5,224 Total Per Unit: $10,356
Total Per GSI: 19% Total Per GSI: 37%
Annual Operating Proforma
Actual Proforma Down Payment 25% Amount $450,000
Gross Rental Income $84,240 $86,040 Interest Rate 4.25%
Plus Other Income $0 $0 # of Years Amortized Over 30
Gross Scheduled Income $84,240 $86,040 Proposed Loan Amount $1,135,000
Less: Vacancy Factor 4% $3,370 $3,442 Loan Points 0%
Gross Operating Income $80,870 $82,598 Other Loan Costs $0
Less: Operating Expenses $15,673 $31,069 Debt Coverage Ratio Current 1.25 Market 0.99
Net Operating Income $65,197 $51,529
Less: First TD Payments ($52,134) ($52,134)
Name: Norm Root CalBRE# 0591659
Pre-Tax Cash Flow $13,064 ($605) Phone: 619.725.3662 Email: [email protected]
Cash On Cash Return 1.94% -0.09% 2635 Camino Del Rio South #300, San Diego, CA, 92108
Principal Reduction $16,025.43 $16,025.43
Total Potential Return 1.10% 6.47%
Great location and neighborhood. Property parks 8 cars offstreet. Down Payment $675,000 $675,000 Sweeping views from all units. Basement could possibly add an additionalTotal 1st Year Cost $675,000 $675,000
State
CA 1936 451-533-03
Yr Built (Aprx.) APNZip
92103
CAP Rate %
Price
$1,585,000
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Financing Information
Contact Information
unit under new ADU rules. Basement currently used by owner and not included in rear
unit rent. Call broker for more info on this.
Building Your Wealth Through
Apartment Investments
3343-47 Columbia Street, San Diego, CA 92103
INVESTMENT SUMMARY
2635 Camino Del Rio South, Suite 300
San Diego, CA 92108
Phone: 619.299.3000 Fax: 619.295.3737
Website: http://aciapartments.com
Apartment Consultants Inc. (ACI) is the most successful income property brokerage firm in San Diego County.Since 1982, we have
specialized in apartment and investment property transactions, and maintained a solid performance despite changing economic cycles. With an
average of more than 140 closed escrows per year, ACI has closed more San Diego County incomeproperty escrows than any other firm in the
county
looking toupgrade your portfolio, ACI is the right choice to achieve your long-term investment goals.
NORM ROOT - SENIOR ASSOCIATE
DRE #00591659
Phone: 619.725.3662
Email: [email protected]
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