2168-2170 Chatsworth Blvd
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2168-2170 Chatsworth Blvd
3,423 SF 100% Leased Retail Building San Diego, CA 92107 £1,877,880 (£549/SF) 5.66% Net Initial Yield
Investment Highlights
- Excellent High Visibility Point Loma Location
- Well Maintained Asset
- Collectively Situated on 9,342 Square Feet of Land
- Tenants are Responsible for Paying the Majority of the Property Expenses
- Parking Lot Professionally Managed by Diamond Parking Providing Additional Income
- Residential ADU Potential Via Storage/Garage Space
Executive Summary
MD Real Estate Inc is proud to present The Point Loma Plaza, a 2-unit retail property + surface parking lot located in the Point Loma Heights neighborhood of San Diego. Situated on two separate parcels the property is comprised of a surface parking lot on a 5,291 square foot lot containing 17 parking stalls. The second parcel totaling approximately 4,051 square feet contains two retail suites totaling approximately 3,084 square feet and a detached garage/storage area that is approximately 340 square feet. All tenants are on newer 5-year leases with 5-year renewal options and 3% annual rent increases. All tenants pay their pro rata share of property taxes, property insurance, water/sewer, and trash leaving the landlord with minimal property expense responsibility.
The Point Loma Plaza is an ideal investment for an investor looking for a passive income stream from a well-located asset in an excellent submarket of San Diego.
The Point Loma Plaza is an ideal investment for an investor looking for a passive income stream from a well-located asset in an excellent submarket of San Diego.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£120,710
|
£35.26
|
| Other Income |
£1,408
|
£0.41
|
| Vacancy Loss |
£6,036
|
£1.76
|
| Effective Gross Income |
£116,083
|
£33.91
|
| Taxes |
-
|
-
|
| Operating Expenses |
£9,716
|
£2.84
|
| Total Expenses |
£9,716
|
£2.84
|
| Net Operating Income |
£106,366
|
£31.07
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £120,710 |
| Annual Per SF | £35.26 |
| Other Income | |
|---|---|
| Annual | £1,408 |
| Annual Per SF | £0.41 |
| Vacancy Loss | |
|---|---|
| Annual | £6,036 |
| Annual Per SF | £1.76 |
| Effective Gross Income | |
|---|---|
| Annual | £116,083 |
| Annual Per SF | £33.91 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | £9,716 |
| Annual Per SF | £2.84 |
| Total Expenses | |
|---|---|
| Annual | £9,716 |
| Annual Per SF | £2.84 |
| Net Operating Income | |
|---|---|
| Annual | £106,366 |
| Annual Per SF | £31.07 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,423 SF
Building Class
C
Year Built
1949
Price
£1,877,880
Price Per SF
£549
Net Initial Yield
5.66%
NOI
£106,366
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.37
Land Acres
0.21 AC
Zoning
C-6 - Allows for a range of development patterns from pedestrian-friendly commercial streets to shopping centers.
Parking
17 Spaces (4.97 Spaces per 1,000 SF Leased)
Frontage
104 ft on Chatsworth
Amenities
- Signage
Walk Score ®
Very Walkable (88)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Total Assessment | £1,316,863 (2024) | |
| Land Assessment | £1,013,586 (2024) | Annual Taxes | £0 (£0.00/sf) |
| Improvements Assessment | £303,278 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£1,013,586 (2024)
Improvements Assessment
£303,278 (2024)
Total Assessment
£1,316,863 (2024)
Annual Taxes
£0 (£0.00/sf)
Tax Year
2023
-
Dylan Wright - MD Real Estate Inc
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2168-2170 Chatsworth Blvd
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