Del Rey Apartments | 3455 Del Rey St
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Del Rey Apartments 3455 Del Rey St
16 Unit Block of Flats £4,730,055 (£295,628/Unit) 4.80% Net Initial Yield San Diego, CA 92109
Investment Highlights
- Extensive Exterior & Interior Renovations performed in 2019
- Ample Off-Street Parking
- Mission Bay Located, near Balboa Ave. Trolley Station, Shopping, Restaurants Nightlife, Bay & Beaches
- All Units have Modernized Kitchens & Bathrooms, Stainless Steel Appliances, Quartz Countertops, Air Conditioning & Dual Paned Windows
- Owned On-Site Laundry (Upgraded in 2024) & Storage Units
Executive Summary
Walk to Mission Bay, a 4,600 acre aquatic park with miles of beach, bay & water sports year-round. All units have been completely rehabilitated down to the framing & designer remodeled with modernized laminated wood style flooring, designer quality kitchen cabinets, stainless steel appliances, decor quartz countertops, fully remodeled bathrooms, bedrooms feature Closet Maid customized drawer pullouts & shelving, floor to ceiling mirror closet doors, dual-paned windows, & individual heating and A/C. This turnkey investment offers a brand new laundry facility, and an outdoor common area with umbrella tables, flower garden, courtytard, & rentable storage units. This unique property is near shopping, restaurants, nightlife, Balboa Ave. trolley station & transportation corridors. A new owner may utilize the location to maximize rental income implementing student housing, corporate/vacation rentals & traveling nurse tenants.
** Drive by Only, Please Do Not Walk on Property or Disturb Tenants
** Drive by Only, Please Do Not Walk on Property or Disturb Tenants
Financial Summary (Actual - 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 (Actual - 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 | £4,730,055 | Property Subtype | Apartment |
| Price Per Unit | £295,628 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Net Initial Yield | 4.80% | Lot Size | 0.29 AC |
| Sale Conditions | 1031 Exchange | Building Size | 9,048 SF |
| Gross Rent Multiplier | 13.03 | Number of Floors | 2 |
| No. Units | 16 | Year Built/Renovated | 1965/2019 |
| Property Type | Residential | Parking Ratio | 1.77/1,000 SF |
| Price | £4,730,055 |
| Price Per Unit | £295,628 |
| Sale Type | Investment |
| Net Initial Yield | 4.80% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 13.03 |
| No. Units | 16 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 9,048 SF |
| Number of Floors | 2 |
| Year Built/Renovated | 1965/2019 |
| Parking Ratio | 1.77/1,000 SF |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Ceiling Fans
- Kitchen
- Granite Countertops
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Double Pane Windows
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 2 | £2,006 | 702 |
| 1+1 | 14 | £1,846 | 546 |
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PROPERTY TAXES
| Parcel Number | 424-362-16 | Improvements Assessment | £792,128 |
| Land Assessment | £2,420,395 | Total Assessment | £3,212,524 |
PROPERTY TAXES
Parcel Number
424-362-16
Land Assessment
£2,420,395
Improvements Assessment
£792,128
Total Assessment
£3,212,524
zoning
| Zoning Code | RM-4-10 |
| RM-4-10 |
-
Gary Urtiaga -
Apartment Realty Group (ARG)
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Del Rey Apartments | 3455 Del Rey St
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