344 Prospect St
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344 Prospect St
5 Unit Block of Flats £3,476,044 (£695,209/Unit) 2.69% Net Initial Yield La Jolla, CA 92037
Investment Highlights
- The property has central heating and individual hot water heaters.
- Some units have westerly ocean facing windows.
- The building has secure access, storage, and private deck patios.
Executive Summary
344 Prospect is a once in a lifetime opportunity to purchase a true A+ location with significant value add opportunity at below $1000 / sq. ft (based on list price). The asset has significant upside in rental income thru more proactive management and modernizing interiors. The property may also lend nicely to an owner occupant who chooses to personally enjoy the penthouse while renting the remaining 4 units to subsidize the mortgage and expenses.
Property Facts
| Price | £3,476,044 | Apartment Style | Low Rise |
| Price Per Unit | £695,209 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Net Initial Yield | 2.69% | Building Size | 4,637 SF |
| Gross Rent Multiplier | 21.91 | Number of Floors | 2 |
| No. Units | 5 | Year Built | 1961 |
| Property Type | Residential | Parking Ratio | 0.86/1,000 SF |
| Property Subtype | Apartment |
| Price | £3,476,044 |
| Price Per Unit | £695,209 |
| Sale Type | Investment |
| Net Initial Yield | 2.69% |
| Gross Rent Multiplier | 21.91 |
| No. Units | 5 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 4,637 SF |
| Number of Floors | 2 |
| Year Built | 1961 |
| Parking Ratio | 0.86/1,000 SF |
Unit Amenities
- Storage Space
- Deck
Site Amenities
- Controlled Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 4 | £3,338 | 683 - 844 |
| 1+1.5 | 1 | £5,688 | 1,528 |
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Walk Score ®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 350-400-28 | Improvements Assessment | £393,453 |
| Land Assessment | £175,193 | Total Assessment | £568,646 |
PROPERTY TAXES
Parcel Number
350-400-28
Land Assessment
£175,193
Improvements Assessment
£393,453
Total Assessment
£568,646
zoning
| Zoning Code | R3 |
| R3 |
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Christopher Robinson -
Mango Tree Real Estate Corp.
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344 Prospect St
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