4834-4844 Lantana Dr - Apartments FOR SALE


San Diego, CA 92105- Fox Canyon
$1,260,000 USD
415-250-4947
4834-4844 Lantana Dr, San Diego, CA for Sale
$1,260,000 USD
Apartments - FOR SALE
1/6
null | 5.6% Cap Rate

4834-4844 Lantana Dr
San Diego, CA 92105
Fox Canyon


HIGHLIGHTS

  • Market 9.1 GRM & 7.97% Cap Rate
  • 6 Large Walk In Storage Rooms in Basement
  • Value-Add Deal with Tremendous Upside
  • Onsite Laundry, 5 Surfacing Parking Spaces
  • 12,584 Square Foot Lot

OVERVIEW

4834-44 Lantana Drive is a 6-unit apartment complex overlooking Fox Canyon in City Heights with over 30% upside in rents. The 3,692 square foot building is situated on a large 12,584 square foot lot. There are two 2 Bedroom / 1 Bathroom units and four 1 Bedroom / 1 Bathroom units. The property was built in 1959 and has large floor plans. There is an onsite laundry facility, 5 off-street surface parking spaces, and 6 large storage spaces under the building accessible through full size doors at the rear of the property. Rents have not been increased in several years. Possible seller financing available. The property is in City Heights, close to the transit and shopping off University Avenue. DO NOT DISTURB TENANTS OR WALK ON PROPERTY. The property is located on a quiet residential street in the Teralta East submarket of City Heights just south of Talmadge. The 'Colina del Sol' neighborhood is named after the large park and recreation area that is a half mile walking distance away. It is located a few hundred feet from the shopping and transit on El Cajon Boulevard and blocks from the new retail center in Fairmount Village with El Super, Starbucks, Chase and Wells Fargo banks, as well as numerous restaurants. The City Heights Library and new Police Station are nearby. The College Area with the San Diego State University Campus is just 3 miles away as are the popular urban areas of Kensington, North Park, Hillcrest, and Normal Heights. Socially and economically, Central San Diego has a high concentration of businesses and households. Businesses tend to be smaller and wider spread than to the north and east. Like other urban mesa neighborhoods north of Balboa Park, Central San Diego has a high rate of pedestrian activity, relative to the rest of San Diego. Central San Diego is located next to many of the major highways including the Interstates 8 and 15 with close access to the coast, beaches, business districts, downtown, and Mexico. PLEASE DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS.

FOR SALE DETAILS

PRICE

$1,260,000 USD

PRICE/SF

$236 USD /SF

# OF UNITS

6

PRICE/UNIT

$210,000

CAP RATE

5.6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,676 SF

ZONING

R4

APN/PARCEL ID

471-791-05

ASK ABOUT THIS PROPERTY

Benn VogelsangNorthmarqMore Info
415-250-4947

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Benn VogelsangNorthmarqMore Info
415-250-4947

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.