Van Dyke Ave SAN DIEGO, CA Units City Heights

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1 Ave SAN DIEGO, CA Units City Heights

2 Single Oak Realty is pleased to present this great investment opportunity to own an 11-unit apartment building in City Heights. This property has a great unit mix of (6) 2bd/1ba units and (5) 1bd/1ba units, 5 separate garages plus an additional 12 parking spaces, laundry, and low maintenance landscaping. It is conveniently located near the 15 and 805 freeways. Offering Price $2,365,000 Address, San Diego, CA No. of Units 11 Unit Mix 6 2BD/1BA, 5 1BD/1BA Year Built 1980 Net Rentable SF 7,584 Lot SF 11,695 Parking 5 Garages + 12 Spaces **Property is a potential condo conversion. There is an expired condo map and CC&R s recorded. Title Report is available for more information. 2

3 PROPERTY HIGHLIGHTS Majority 2 Bedroom Units Fully gated 5 Garages (3 2-Car, 2 1-Car) + 12 Spaces On-Site Laundry Low-Maintenance Landscaping Easy access to I-15 & I-805 Marlborough Ave 3

4 PROPERTY HIGHLIGHTS 2 BD/1BA Marlborough Ave Bedroom Wood Tile 4

5 PROPERTY HIGHLIGHTS 2 BD/1BA Upgraded Bathroom Entry/Living Room Wood Tile Marlborough Ave Living Room/Dining Room Wood Tile 5

6 PROPERTY HIGHLIGHTS Marlborough Ave 6

7 PROPERTY HIGHLIGHTS El Cajon Blvd. I-805 I-15 University University I-15 Marlborough Ave Wightman St. Landis St. Fairmount Ave. 7

8 FINANCIAL HIGHLIGHTS FINANCIAL OVERVIEW Offering Price $2,365,000 Price/Unit $215,000 Price/SF $ Occupancy (Current) 100% First Year NOI $122,809 First Year CAP Rate 5.19% First Year GRM PROPOSED FINANCING Loan Amount $1,575,000 Loan-To-Value 67% Interest Rate 4.45% Amortization Period 30 Monthly Payment $7,934 Annual Payment $95,203 For proposed financing contact: Michael C. Proto La Jolla Capital Group 7880 Exchange Place La Jolla, CA Direct Cell Fax CA License #:

9 FINANCIAL ANALYSIS 11 UNITS Van Dyke, San Diego, CA, SALES PRICE $2,365,000 DOWN PAYMENT $790,000 $/UNIT $215,000 % DOWN 33% $/SF $ LOAN $1,575,000 SF 7,584 CAP 5.05% MARKET CAP 5.19% GRM MARKET GRM No. of Units Unit Type Actual Average Rent Market Rent 6 2bd/1ba $1,511 $1, bd / 1 ba $1,228 $1, Total $15,205 $16,100 ADDITIONAL MONTHLY INCOME Avg. Laundry $128 $196 Garages $1,050 $1,050 TOTAL MONTHLY INCOME $16,383 $17,346 SCHEDULED GROSS INCOME $196,600 $208,151 *Less Vacancy Loss ($5,898) ($6,245) EFFECTIVE GROSS INCOME $190,702 $201,907 Less Estimated Expenses Advertising - Rental Tax $317 Cleaning $1,495 *Est. Vacancy Loss 3% Insurance $1,866 Actual Expenses 37% Prof. Fees $4,458 Mgt (Off-Site) $9,141 Est. Market Expenses 38% Mgt (On-Site) - Est. Property Taxes 1.15% Repairs/Supplies $9,847 *Property Taxes $27,198 Utilities $15,573 Yard - Trash $1,462 Other - Exp/unit $6,487 ($71,357) ($79,097) Exp % of SGI 36% NET OPERATING INCOME $119,346 $122,809 Amortization 30 Interest Rate 5 Year Fixed 4.45% ($95,203) Debt Service (P&I) $1,575,000 CASH FLOW $119,346 $27,606 9

10 FINANCIAL ANALYSIS CURRENT ANNUALIZED INCOME Rent $182,460 Additional Income $14,140 Total Income $196,600 Est. Gross Operating Inc. (EGI) $190,702 Total Expenses ($71,357) Net Operating Income (NOI) $119,346 Less Loan Payments ($95,203) Pre-Tax Cash Flow $24,143 Plus Principle Reduction $25,634 Total Return Before Taxes $49,777 Total Return 6.30% MARKET ANNUALIZED INCOME Rent $193,200 Additional Income $14,951 Total Income $208,151 Est. Gross Operating Inc. (EGI) $201,907 Total Expenses ($79,097) Net Operating Income (NOI) $122,809 Less Loan Payments ($95,203) Pre-Tax Cash Flow $27,606 Plus Principle Reduction $25,634 Total Return Before Taxes $53,240 Total Return 6.74% 10

11 FINANCIAL ANALYSIS RENT ROLL Unit Unit Type Current Rent Market Rent 1 2/1 $1,565 $1, /1 $1,150 $1, /1 $1,500 $1, /1 $1,500 $1, /1 $1,195 $1, /1 $1,500 $1, /1 $1,260 $1, /1 $1,260 $1, /1 $1,500 $1, /1 $1,275 $1, /1 $1,500 $1, Total $15,205 $16,100 GARAGE RENT Garage No. Current Rents Market Rents 1 1 Car $150 $ Car $250 $ Car $250 $ Car $250 $ Car $150 $150 5 Total $1,050 $1,050 11

12 San Diego, CA EXCLUSIVELY OFFERED BY *Franco Simone Catherine E. Ybarra p Lera M. Blevins p SINGLE OAK INVESTMENTS CalBRE # p f th, San Diego, CA *Broker has a financial interest in the property.