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1624 Una St

4 Unit Block of Flats £1,021,755 (£255,439/Unit) 6.04% Net Initial Yield San Diego, CA 92113

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Executive Summary

1624 Una St is a remodeled four-unit building located just south of Downtown San Diego in the neighborhood of Southcrest. The property has a desirable unit mix of all 2 bed / 1 bath units with spacious floorplans. In 2019 the property went through an extensive renovation which included all new kitchens, bathrooms, flooring and windows, along with upgrades the electrical and plumbing systems. Unit finishes include stainless steel appliances, quartz countertops and shaker cabinets.
Rents at the property are at or near market, producing a strong in-place cap rate of 6.04%. 1624 Una St is a perfect buy and hold cash flow investment with a strong unit mix that ensures long term rental demand.

1624 Una St OM Oct 2024

Property Facts

Price	£1,021,755	Building Class	C
Price Per Unit	£255,439	Lot Size	0.07 AC
Sale Type	Investment	Building Size	2,800 SF
Net Initial Yield	6.04%	Average Occupancy	0%
Gross Rent Multiplier	11.49	Number of Floors	2
No. Units	4	Year Built	1960
Property Type	Residential	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype	Apartment

Price	£1,021,755
Price Per Unit	£255,439
Sale Type	Investment
Net Initial Yield	6.04%
Gross Rent Multiplier	11.49
No. Units	4
Property Type	Residential
Property Subtype	Apartment
Building Class	C
Lot Size	0.07 AC
Building Size	2,800 SF
Average Occupancy	0%
Number of Floors	2
Year Built	1960
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.