For more information on this property, contact Lawrence Dy at 8584491253 or lawrencedy@gmail.com

550-54 Ritchey St
San Diego, California CA 92114
Sold For: $1,125,000
Listing ID 210028567
Status SOLD
SqFt 4,769
Year Built 1950

Property Description:

Calling all investors! Here is a chance to own a recently updated 4 unit multi-family complex in Encanto (San Diego). Newly constructed studio and remodeled interiors on 2 units. Excellent opportunity to obtain a property for a long term hold. Perfect for an owner-occupant. Centrally located to public transportation, parks, grocery stores, shops, and restaurants. City park across the street which provides great open space for the neighborhood. 62nd St/Encanto trolly stop within walking distance.

Primary Features

County: San Diego
City: San Diego
Price Before Reduction: 1350000
Price Reduction Date: 2021-11-10T04:23:25+00:00
Property Type: 2-4 Units
Year Built: 1950

Interior

Cooling: N/K
Heat Equipment: Forced Air Unit
Heat Source: Natural Gas
Levels: 2 Story
Total Stories: 2
Unit 1 Estimated SqFt: 765
Unit 1 Laundry Hook Ups: Common
Unit 1 Number of Bedrooms: 2
Unit 1 Number of Full Baths: 1
Unit 1 Number Total Baths: 1
Unit 2 Estimated SqFt: 572
Unit 2 Laundry Hook Ups: Common
Unit 2 Number of Bedrooms: 1
Unit 2 Number of Full Baths: 1
Unit 2 Number Total Baths: 1
Unit 3 Estimated SqFt: 864
Unit 3 Laundry Hook Ups: Common
Unit 3 Number Bedrooms: 4
Unit 3 Number of Full Baths: 1
Unit 3 Number Total Baths: 1
Unit 4 Estimated SqFt: 167
Unit 4 Laundry Hook Ups: Common
Unit 4 Number of Full Baths: 1
Unit 4 Number Total Baths: 1

External

Entry Only: no
Exterior: Wood/Stucco
Fencing: Partial
Lot Size: 4,000-7,499 SF
Neighborhood: Encanto
Number of Buildings: 2
Number of Units: 4
Number of Units w/Range/Oven: 4
Number of Units w/Refrigerator: 4
Number Units w/Dishwashers: 4
Roof: Composition
Water: Meter on Property

Location

Complex/Park: Singe Complex
Country: United States
Market Area: Metro Central
Zip/Area: ENCANTO (92114)

Additional

Property Type: 2-4 UNITS

Financial

Age Restrictions: N/K
Annual Expense Actual: 10240
Annual Expense Projected: 18480
Cap Rate Actual: 5.35
Cap Rate Projected: 6.29
Financing: VA
Gross Rent Multiplier Act: 16.07
Gross Rent Multiplier Projected: 12.72
Gross Scheduled Income Actual: 73140
Gross Scheduled Income Projected: 92400
Net Operating Income Projected: 73920
Sale/Rent: For Sale
Sales Restrictions: N/K
Short Sale: no
Tenant Pays: Trash, Cable TV, Electricity, Gas/Propane
Terms: Cash, Conventional
Unit 1 Deposit: 2000
Unit 1 Rent Actual: 2500
Unit 2 Deposit: 1600
Unit 2 Rent Actual: 1600
Unit 3 Deposit: 1900
Unit 3 Projected Rent: 2500
Unit 3 Rent Actual: 1995
Unit 4 Projected Rent: 1100

Zoning Info


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Contact

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Lawrence Dy

11440 W. Bernardo Ct #300
San Diego, CA 92127
Phone: 8584491253
Phone Alt: 8584491253

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