1915-1921 4th Ave
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1915-1921 4th Ave
11 Unit Block of Flats £4,236,623 (£385,148/Unit) 4% Net Initial Yield San Diego, CA 92101
Investment Highlights
- 4.00% ProForma CAP Rate / Offering actual CAP Rate of 2.83%
- Excellent unit mix of studios, 1 bedroom units and 2 bedroom units.
- First time to the market in 25+ years.
- Major Upside in Rental Income / 0.115 Acre Lot
Executive Summary
Located at 1915-1921 4th Avenue in the highly sought-after Bankers Hill area of San Diego, this multifamily property has not been available on the market for over 25 years, making it a rare investment opportunity. The property consists of 11 units, featuring a versatile mix of 2 studio units, 7 one-bedroom units, and 2 two-bedroom units. Bankers Hill, known for its blend of historic charm and modern conveniences, offers a prime location just north of downtown San Diego.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £4,236,623 | Apartment Style | Low Rise |
| Price Per Unit | £385,148 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Net Initial Yield | 4% | Building Size | 6,700 SF |
| Gross Rent Multiplier | 16.85 | Average Occupancy | 95% |
| No. Units | 11 | Number of Floors | 3 |
| Property Type | Residential | Year Built | 1940 |
| Property Subtype | Apartment | Parking Ratio | 0.36/1,000 SF |
| Price | £4,236,623 |
| Price Per Unit | £385,148 |
| Sale Type | Investment |
| Net Initial Yield | 4% |
| Gross Rent Multiplier | 16.85 |
| No. Units | 11 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 6,700 SF |
| Average Occupancy | 95% |
| Number of Floors | 3 |
| Year Built | 1940 |
| Parking Ratio | 0.36/1,000 SF |
Unit Amenities
- Balcony
- Fireplace
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Freezer
- Smoke Free
Site Amenities
- 24 Hour Access
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 2 | £1,412 | 550 |
| 1+1 | 7 | £1,961 | 625 |
| 2+1 | 2 | £2,197 | 850 |
1 of 1
Walk Score ®
Walker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 533-292-05 | Improvements Assessment | £306,720 |
| Land Assessment | £214,700 | Total Assessment | £521,420 |
PROPERTY TAXES
Parcel Number
533-292-05
Land Assessment
£214,700
Improvements Assessment
£306,720
Total Assessment
£521,420
zoning
| Zoning Code | CV-4, San Diego |
| CV-4, San Diego |
-
Anthony Le -
Le Investment Group
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1915-1921 4th Ave
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