Park West Multi-Family · Park West Multi-Family 432 W Kalmia St, San Diego, CA 92101 Brian Nelson,...
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Park West Multi-Family 432 W Kalmia St, San Diego, CA 92101 Phone: (619) 226-6011 ● Fax: (866) 861-7803 ● 3405 Kenyon St #411 ● San Diego, CA 92110 ● www.scc1031.com Trophy Park West Location w/ Harbor/Bay Views ● 1700 sq.ft. - 3bed/2bath, 2-Story Victorian w/ 2 - 2bed/1baths units. ● Private Decks/Backyards ● W/D's In-Unit ● Immaculately Maintained & 100% Turn-Key ● Contact: Cameron Ebrahimi Senior Investment Specialist p: 858-380-8553 [email protected]
Transcript of Park West Multi-Family · Park West Multi-Family 432 W Kalmia St, San Diego, CA 92101 Brian Nelson,...
Park West Multi-Family432 W Kalmia St, San Diego, CA 92101
Brian Nelson, BrokerBroker of [email protected]
Phone: (619) 226-6011 ● Fax: (866) 861-7803 ● 3405 Kenyon St #411 ● San Diego, CA 92110 ● www.scc1031.com
Trophy Park West Location w/ Harbor/Bay Views●
1700 sq.ft. - 3bed/2bath, 2-Story Victorian w/ 2 - 2bed/1bathsunits.
●
Private Decks/Backyards ●
W/D's In-Unit●
Immaculately Maintained & 100% Turn-Key●
Contact: Cameron EbrahimiSenior Investment Specialistp: [email protected]
PROPERTY DESCRIPTIONPark West Multi-Family432 W Kalmia St | San Diego, CA 92101
Brian Nelson, BrokerBroker of [email protected]
We're pleased to present the Park West Vacation Rentals. This trophy property consists a 1700 sq. ft. - 3bed/2bath two-story Victorian and two - 2bed/1bath stacked units in the rear. The home features crown moldings, hardwood floors,granite counter-tops, front-decks on both floors, w/d's in each unit, upgraded appliances, individual meters for water &G&E and a spacious backyard and barbecue area. All units are completely turn-key with attention to detail in everycorner.
The front home is currently occupied by the owner/operator and is leased as a vacation rental part-time while the two -2bed's are being operated as vacation rentals on a full-time basis. ALL furnishing for the rear units will transfer with thesale of the property.
432 W Kalmia St resides in a rare trophy location. Just one block south of Laurel St and a short walk to the worldfamous Balboa Park in the Park West neighborhood of Bankers Hill. The property is within minutes to Downtown SanDiego, Little Italy, Old-Town and some of San Diego's premiere restaurants and entertainment venues, making this aprime asset and location for a vacation rental operator or an owner user who'd like to live in the front home and use thevacation rental income to supplement their mortgage.
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PROPERTY PHOTOSPark West Multi-Family432 W Kalmia St | San Diego, CA 92101
Brian Nelson, BrokerBroker of [email protected]
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UNIT MIX REPORTPark West Multi-Family432 W Kalmia St | San Diego, CA 92101
Brian Nelson, BrokerBroker of [email protected]
Units Type Approx. SqFt Avg. Rents Monthly Mkt Rents Monthly
1 3bed/2ba 1700 $5,000 $5,000 $5,300 $5,3002 2bed/1ba 830 $3,100 $6,200 $3,100 $6,2003 3,360 $11,200 $11,500
UNIT MIX UNIT MIX SQUARE FEET
● 3bed/2ba
● 2bed/1ba
● 3bed/2ba
● 2bed/1ba
UNIT MIX INCOME UNIT MIX MARKET INCOME
● 3bed/2ba
● 2bed/1ba
● 3bed/2ba
● 2bed/1ba
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EXECUTIVE SUMMARYPark West Multi-Family432 W Kalmia St | San Diego, CA 92101
Brian Nelson, BrokerBroker of [email protected]
UNIT MIX & MONTHLY SCHEDULED
Type Units Actual Total Market Total 3bed/2ba 1 $5,000 $5,000 $5,300 $5,3002bed/1ba 2 $3,100 $6,200 $3,100 $6,200TOTALS 3 $11,200 $11,500
ANNUALIZED INCOME Description Actual Market
Gross Potential Rent $134,400 $138,000Less: Vacancy ($4,032) ($4,140)Effective Gross Income $130,368 $133,860Less: Expenses ($27,931) ($27,931)Net Operating Income $102,437 $105,929Debt Service ($84,698) ($84,698)Net Cash Flow after Debt Service $17,739 $21,231Principal Reduction $22,472 $22,472Total Return $40,212 $43,704
ANNUALIZED EXPENSES Description Actual Market
Gas & Electric $350 $350Building Insurance $1,100 $1,100Licenses and Fees $150 $150Pest Control $144 $144Maintenance $2,950 $2,950Misc $300 $300Reserves $450 $450Taxes - Real Estate $22,487 $22,487Total Expenses $27,931 $27,931Expenses Per RSF $8.31 $8.31Expenses Per Unit $9,310 $9,310
INVESTMENT SUMMARY
Price: $1,850,000
Year Built: 1948
Units: 3
Price/Unit: $616,667
RSF: 3,360
Price/RSF: $550.60
Lot Size: 4,994 sf
Floors: 2
APN: 533-075-06-
Cap Rate: 5.54%
Market Cap Rate: 5.73%
GRM: 13.76
Market GRM: 13.41
FINANCING SUMMARY
Loan Amount: $1,393,000
Down Payment: $597,000
Loan Type: Fixed
Interest Rate: 4.5%
Term: 30 years
Monthly Payment: $7,058
DCR: 1.21
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MAPS AND AERIALSPark West Multi-Family432 W Kalmia St | San Diego, CA 92101
Brian Nelson, BrokerBroker of [email protected]
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DEMOGRAPHICSPark West Multi-Family432 W Kalmia St | San Diego, CA 92101
Brian Nelson, BrokerBroker of [email protected]
Population Characteristic 1 Mile 3 Mile 5 Mile
Ages 0-4 630 9,535 28,114
Ages 5-9 529 9,953 30,714
Ages 10-14 320 7,601 25,405
Ages 15-19 252 6,614 23,414
Ages 20-24 420 8,014 26,562
Ages 25-29 702 10,521 30,820
Ages 30-34 1,090 13,443 34,935
Ages 35-39 1,568 16,298 38,464
Ages 40-44 1,829 18,067 39,839
Ages 45-49 1,843 17,939 38,649
Ages 50-54 1,656 16,266 34,714
Ages 55-59 1,451 14,068 29,740
Ages 60-64 1,261 11,456 24,131
Ages 65-69 1,028 8,846 18,503
Ages 70-74 814 6,737 13,547
Ages 75-79 674 4,937 9,732
Ages 80-84 553 3,518 6,894
Household Income 1 Mile 3 Mile 5 Mile
Median Household Income $62,191 $51,481 $49,064
< $10000 911 6,597 13,053
$10000-$14999 655 7,165 13,150
$15000-$19999 475 5,019 10,558
$20000-$24999 398 5,108 10,795
$25000-$29999 319 4,193 9,636
$30000-$34999 533 4,518 9,135
$35000-$39999 501 4,259 9,704
$40000-$44999 254 4,476 9,384
$45000-$49999 416 3,686 8,222
$50000-$60000 1,039 7,281 15,147
$60000-$74000 886 8,557 17,279
$75000-$99999 1,598 10,563 21,377
$100000-$124999 833 6,083 12,660
$125000-$149999 359 3,606 7,107
$150000-$199999 666 4,067 7,699
> $200000 546 4,813 7,805
Race Characteristic 1 Mile 3 Mile 5 Mile
Non Hispanic White 14,956 135,120 280,397
Population Black 505 8,930 29,780
Population Am In/AK Nat 28 371 1,054
Characteristic Housing 1 Mile 3 Mile
Housing Units 12,342 104,033
Occupied Housing Units 10,791 93,876
Owner Occupied Housing Units 3,003 28,346
Renter Occupied Housing Units 7,788 65,530
Vacant Housing Units 1,551 10,157
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