9 Units on Texas

4185 Texas Street

San Diego, CA  92104

9 Units

6 Ones and 3 twos

List price is $1.895

Suggested offer price is 1.780

Summary ran with 90K in Cap EX 

(to bring rents up)

Investment Summary @ 1.78 Click Here

Google Street View

9 Units- 5 are 2 bed 2 baths

4578 -4586 Illinois

San Diego, CA 92116

This is technically in University Heights not North Park.

9 Units 

Five - 2 bed 2 bath

Four - 1 bed 1 bath

Five- 1 Car Garages

Seven Spaces

6,814 SQFT on a 8,751 Lot

List Price is 2.189

Suggested offer Price is 2.040 with Strong Terms

Negative- Smog place next door

Positive are those 2 bed 2 baths and garages & Sqft.

Investment Summary at 2.040M

Google Street View

4 - Ones

.
4 Ones
2,324 sqft
Lot is 4,500 sqft

4125 Iowa

..

North across subject towards El Cajon Blvd

Subject

Across from Subject

South

8 On Illinois

4177 Illinois

Pictures

4 Townhomes in North Park- PROJECT

SOLD

4193 Illinois Street

4 Units

Priced at $920,000

Suggested offer Price mid 800s.

The good...

@ 875 your at 210 a sqft in North Park. (not Bad!!!)

Put in capital expenses and you should be north of a 6.6 CAP on achievalbe market rents.

.. Then you will have practially a new building in the center of an area with huge upside  generating 6 percent cash on cash. (with Management & Reserves included)

Conservative Estimated value of repaired property is 1.1(5 CAP/ 14 GRM)

Size: 4196 rentable SQFT

Lot 5,001 SQFT

4 Parking Spaces

Unit mix:- Three-2 bed 1.5 bath town homes

& 

a 3 Bedroom 1.5 bath town home 

All units have private patios and a parking space

New Roof (which included extensive wood repair)

Plumbing (water supply)  is out of the Slab

Area is experiencing surge of investment.

Units plumbed separately (could be separately metered)

Plumbing (water supply)  is out of the Slab

The Bad-

Capital Expenses estimate 80-120K

Replace Sewer Line

Electrical Panel & Wiring work

Upgrade power supply/ Breakers

No GFCI'S

 Possible Mold

 Concrete  Grinding/ remove and replace

Remove- Magnolia tree 

Properties in close proximity are getting a surge of Capital.

Remove bars on Windows

Replace windows

Paint/ redesign exterior

Repair rattling pipes inside walls

Replace gas connectors on heaters- Need flex lines

Remove bars on Windows

Replace windows

Paint/ redesign exterior

Repair rattling pipes inside walls

Replace gas connectors on heaters- Need flex lines

All units need remodeling- Full on remodels Kitchens, Bathrooms and flooring

Investment Summary Click Here

Google Street View Click Here

the ugly......

Yes- That's silver wall paper & asbestos flooring

Yes- Drains are plugged

Upstairs bedrooms

looking at yard from bedroom