Photo of Ross Anthony

Ross Anthony

760.822.7451

DRE# 01903340



$4,950,000

  • COMMERCIAL-RES INCOME
  • ACTIVE
  • MLS# 180002770

Description

RENTS RAISED! Solis Place is a 21 unit apartment building that underwent a full renovation completed in 2017. The 3 story building consists of 7 one bedroom units and 14 studio units along with a laundry room and 5 off-street parking spaces situated on a 7,768 square foot lot. Each unit is furnished with a kitchen including a microwave, refrigerator, and stove, dining table with two chairs, sofa, TV, queen bed, nightstands, dresser, bathroom, closet, as well as heat and A/C. The third floor units have private decks and views of Coronado, Downtown San Diego and Point Loma. All utilities as well as cable and internet are paid by landlord. Solis Place is an ideal student housing option for UC San Diego, San Diego State or USD students. These off-campus apartments have proximity to I-5, a high walkability score, and are blocks from public transportation. The operations provide an investor with a low vacancy factor in a low maintenance asset and tenants with an affordable, renovated, stream-lined housing option.

Property Details

Property type:
Commercial-Res Income
Age of Building:
1965
Number of Buildings:
1
Number of Stories:
3
Total Number of Parking Spaces:
5

Location

County:
San Diego

Additional Details

Number of Units:
21
Number of Leased Apartments:
21
Number of Stories:
3
Total Monthly Rent:
$32,293
Price Per Unit:
$235,714
Down Payment:
$2,000,000
Gross Equity:
$4,950,000
SqFt of Improvement:
7,417
Lot Square Footage:
7,768
Assessors Parcel #:
451-711-45-00
Units with Ranges:
21
Units with Refrigerator:
21

Unit Details

Unit 1
Number of Units:
7
Number of Bedrooms:
1
Number of Baths:
1
Furnished:
Yes
Rent:
$1,650
Unit Rental Total:
$11,550
Unit 2
Number of Units:
14
Number of Baths:
1
Furnished:
Yes
Rent:
$1,438
Unit Rental Total:
$20,132

Listing provided by

South Coast Commercial, Inc.
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Mission Hills

Mission Hills is an upscale, affluent neighborhood in San Diego, bordered by the San Diego River valley to the north, Downtown San Diego to the south, and overlooking Old Town, Downtown San Diego, and San Diego Bay. The neighborhood is mostly residential, with some boutiques and restaurants, though it is walking distance to all that Hillcrest has to offer. Mission Hills homes are known to be c... Read More

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Presented By
Ross
Anthony

DRE# 01903340

760.822.7451

Email Me
Presented By
Ross
Anthony

DRE# 01903340

760.822.7451

Email Me

Willis Allen Real EstateThis information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by Sandicor®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2018 Sandicor®, Inc.