3424 3434 · 2 days ago · NON-ENDORSEMENT & DISCLAIMER NOTICE. CONFIDENTIALITY & DISCLAIMER. The information contained in the following Marketing Brochure is proprietary and strictly

3424 & 3434Monroe St

C A R L S B A D , C A 9 2 0 0 8

2 P A R C E L S 8 U N I T S

N O N - E N D O R S E M E N T & D I S C L A I M E R N O T I C E

C O N F I D E N T I A L I T Y & D I S C L A I M E R

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should

not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to

prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation.

Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial

performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with

State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its

occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified,

and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever

regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a

service mark of Marcus & Millichap Real Estate Investment Services, Inc.

© 2018 Marcus & Millichap. All rights reserved.

N O N - E N D O R S E M E N T N O T I C E

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not

intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial

listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. Activity ID: ZAA0090720

S P E C I A L C O V I D - 1 9 N O T I C E

All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary,

especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf

of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its

investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues,

tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees

and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.)

A L L P R O P E R T Y S H O W I N G S A R E B Y A P P O I N T M E N T O N LY .P L E A S E C O N S U LT Y O U R M A R C U S & M I L L I C H A P A G E N T F O R M O R E D E T A I L S .

OFFICES THROUGHOUT THE U.S. AND CANADAwww.marcusmillichap.com

E X C L U S I V E L Y L I S T E D B Y

CARSON TRUJILLOSenior Associate

San DiegoDirect: (858)373-3285

Cell: (859)[email protected]

License: CA 01974818

RAYMOND CHOISenior Vice President Investments

San DiegoDirect: (858)373-3136Cell: (858) 735-6632

[email protected]: CA 01297138

4 E X E C U T I V E S U M M A R Y

Marcus & Millichap is pleased to present for sale two contiguous 4-plexes in the highly desirable neighborhood of Carlsbad. Resting on a 15,726 SF lot, there is 6,524 rentable SF comprised of (8) two-

bedroom/one-bathroom units.

3424 & 3434 Monroe Street offers investors the unique opportunity to acquire a value-add asset in a rarely traded neighborhood. The cottage style 4-plexes feature coin operated laundry, 8 covered

carport parking spaces, a communal courtyard, and an abundance of storage space. This asset can be renovated to maximize cash flow or continue to be well maintained and operate as is.

Carlsbad is one of San Diego County’s most desirable cities to live in. It is home to some of California’s most famous beaches, top rated schools, attractions, and restaurants. This coastal community attracts

high quality tenants that will continue to keep vacancy rates low and rent increases steady. Being within walking distance to Carlsbad High School, this property is well positioned with the investor’s longevity in

mind.

All 2 Bdrm / 1 Bath Units Value Add -Under Market

Rents

30-Year Fixed Financing Options

Large LotApprox. 16K sq ft

2 Separate4 Unit Parcels

5E X E C U T I V E S U M M A R Y


C A R L S B A D , C A 9 2 0 0 8

6 P R O P E R T Y D E S C R I P T I O N6


C A R L S B A D , C A 9 2 0 0 8

7P R O P E R T Y D E S C R I P T I O N

3 4 2 4 3 4 3 4 M O N R O E S T

&

CARLSBAD HIGH SCHO OL

CARLSBAD STATE BEACHI-5

8 P R O P E R T Y D E S C R I P T I O N

CARLSBAD VILLAGE

3 4 2 4 3 4 3 4 M O N R O E S T

&

SOUTH O CEANSIDE

9P R O P E R T Y D E S C R I P T I O N

Carlsbad is a coastal city in the North County region of San Diego County,

California, United States called “The Village by the Sea”. It is a small,

affluent seaside resort community about half way between San Diego

and Orange County. Carlsbad has the charm of an old European city

and the atmosphere of a typical Californian coastal community. With

seven miles of fine white sandy beaches and the near perfect climate,

the village is a popular weekend destination and a great place to live.

The city’s estimated 2019 population was 115,382. Among the nation’s top

20 wealthiest communities, Carlsbad is the 5th richest city in the state of

California with a median household income close to $105,000.

Carlsbad is also a popular tourist destination. One of the Top 25 beaches

via TripAdvisor. The beach offers an array of outdoor activities to enjoy

– swimming, surfing, stand-up paddle boarding, scuba diving and snorkeling, fishing, shelling, and of course just hanging out.Paddle Out in our local lagoons for a relaxing and peaceful experience

on the water. Not only is the ocean important to us but so is our miracle

alkaline mineral water, fresh water lagoons and our newest desalinization

plant which provides approximately 10% or regions water.

South Carlsbad State Beach is one of the top Carlsbad attractions.

With uninterrupted views of Carlsbad’s sunset views, what more could

you ask for.

CARLSBAD

10 P R O P E R T Y D E S C R I P T I O N

CARLSBAD

11F I N A N C I A L A N A L Y S I S

PRICING DETAILS // 3424 & 3434 MONROE ST

SUMMARY Price $2,950,000Down Payment $1,239,000 42%Number of Units 8Price Per Unit $368,750Price Per SqFt $452.18Gross SqFt 6,524Lot Size 0.34 AcresApprox. Year Built 1960

RETURNS CURRENT PROFORMACAP Rate 3.85% 4.76%GRM 16.64 14.29Cash-on-Cash 1.72% 3.88%Debt Coverage Ratio 1.23 1.52

FINANCING 1ST LOANLoan Amount $1,711,000Loan Type NewInterest Rate 3.75%Amortization 30 YearsYear Due 2025

# OF UNITS

UNIT TYPE SCHEDULED RENTS

MARKETRENTS

8 2-Bed/1-Bath $1,847 $2,150

INCOME CURRENT PROFROMAGross Scheduled Rent $177,300 $206,400Less: Vacancy/Deductions 3.0% $5,319 3.0% $6,192Total Effective Rental Income $171,981 $200,208

Other Income $1,500 $1,500Effective Gross Income $173,481 $201,708Less: Expenses 34.6% $59,977 30.4% $61,388Net Operating Income $113,504 $140,320Cash Flow $113,504 $140,320Debt Service $92,198 $92,198Net Cash Flow After Debt Service 1.72% $21,306 3.88% $48,122Principal Reduction $32,836 $34,004Total Return 4.37% $54,142 6.63% $82,126

EXPENSES CURRENT PROFORMAReal Estate Taxes $32,495 $32,495Insurance $2,400 $2,400Utilities - Water & Sewer $4,882 $4,882Utlities - Gas & Electric $2,806 $2,806Trash Removal $2,880 $2,880Repairs & Maintenance $2,800 $2,800Landscaping $1,440 $1,440Operating Reserves $1,600 $1,600Management Fee $8,674 $10,085Total Expenses $59,977 $61,388Expenses/Unit $7,497 $7,674Expenses/SF $9.19 $9.41

12 F I N A N C I A L A N A L Y S I S

RENT ROLL SUMMARY // 3424 & 3434 MONROE ST

RENT ROLL

SCHEDULED POTENTIAL

UNIT TYPE # OF UNITS

AVG SQFEET

RENTALRANGE

AVG.RENT

AVG.RENT/ SF

MONTHLYINCOME

AVG.RENT

AVG. RENT / SF

MONTHLYINCOME

2-Bedroom/1-Bathroom 8 816 $1,725 - $2,100 $1,847 $2.26 $14,775 $2,150 $2.64 $17,200

TOTALS/WEIGHTED AVERAGES 8 816 $1,847 $2.26 $14,775 $2,150 $2.64 $17,200

GROSS ANNUALIZED RENTS $177,300 $206,400

UNIT UNIT TYPE SQUAREFEET

CURRENTRENT / MONTH

CURRENT RENT/SF/MONTH

POTENTIAL RENT/ MONTH

POTENTIALRENT/SF/MONTH

3424-1 2-Bedroom/1-Bathroom 816 $1,875 $2.30 $2,150 $2.64








Total 6,524 $14,775 $2.26 $17,200 $2.64

13S A L E S C O M P A R A B L E S

2

5

3

4

8 UNITS

3 4 2 4 & 3 4 3 4M O N R O E S T

1

3424 & 3434 MONROE ST

3410 MONROE ST

3760 JEFFERSON ST

735-739 CALIFORNIA ST

870-865 LAGUNA DR

3350 HARDING ST

123

4

5

SALES COMPARABLES

14 S A L E S C O M P A R A B L E S

SALES COMPARABLES // 3424 & 3434 MONROE ST

3424 & 3434 MONROE STCarlsbad, CA 92008

3410 MONROE STCarlsbad, CA 92008

3760 JEFFERSON STCarlsbad, CA 92008

Sale Price $2,950,000

Sale Date ON MARKET

Year Built 1960

Price per Unit $368,750

Price per Square Foot $452.18

CAP Rate 3.85%

GRM 16.64

Number of Units 8

Units Unit Type

8 2 Bedroom / 1 Bathroom


Sale Date 10/4/2019

Year Built 1964



CAP Rate -

GRM -

Number of Units 4


Sale Date 3/13/2020

Year Built 1953



CAP Rate 4.01%

GRM 18.61

Number of Units 2

Units Unit Type


Units Unit Type


1 2

15S A L E S C O M P A R A B L E S

735-739 CALIFORNIA STOceanside, CA 92054

8 7 0 - 8 7 6 L AG U NA DRCarlsbad, CA 92008

3350 HARDING STCarlsbad, CA 92008

Sale Price $2,030,000.00

Sale Date 1/10/2019

Year Built -



CAP Rate 3.12%

GRM 21.15

Number of Units 4


Sale Date 10/10/2019

Year Built 1950



CAP Rate 3.27%

GRM 18.21

Number of Units 6


Sale Date ON MARKET

Year Built 1969



CAP Rate 4.45%

GRM 14.16

Number of Units 17

Units Unit Type

1 2 Bedroom / 1 Bathroom Home

1 1Bedroom / 1 Bathroom


Units Unit Type


Units Unit Type



43 5

O N M A R K E T

2

8 UNITS

3 4 2 4 & 3 4 3 4M O N R O E S T

13

4

3424 & 3434 MONROE ST

3410 MONROE ST1000 CHINQUAPIN AVE935 LAGUNA DR2824 FAIRFIELD AVE

123

4

RENT COMPARABLES

17R E N T C O M P A R A B L E S

UNIT T YPE UNIT S SQUARE FEET RENT RENT/SF

2 Bedroom / 1 Bathroom 8 816 $1,725 - $2,100 $2.26


2 Bedroom / 2 Bathroom 1 1,000 $2,200 $2.20


2 Bedroom / 1.5 Bathroom 1 1,000 $2,125 - $2,175 $2.13 - $2.18

TotalUnits 08 Year

Built

YearBuilt

YearBuilt

1960

1960

1979

3 4 2 4 & 3 4 3 4 M O N R O E S TCarlsbad, CA 92008

3 4 1 0 M O N R O E S TCarlsbad, CA 92008

1 0 0 0 C H I N Q U A P I N AV ECarlsbad, CA 92008

1

2

18 R E N T C O M P A R A B L E S


2 Bedroom / 1 Bathroom 1 950 $2,195 $2.31


2 Bedroom / 2 Bathroom 1 1,112 $2,200 $1.98

YearBuilt

YearBuilt

1973

1987

9 3 5 L A G U NA D RCarlsbad, CA 92008

2 8 2 4 F A I R F I E L D AV ECarlsbad, CA 92008

4

3

19M A R K E T O V E R V I E W

The Village The Village by the Seaby the Sea

20 M A R K E T O V E R V I E W

$609,900Median Home Pr ice

M E T R O A R E AS A N D I E G O

California’s second largest city and the United States’ eighth largest, San Diego boasts a citywide population of nearly 1.3 million residents and more than 3 million residents countywide. Within its borders of 4,200 sq. miles, San Diego County encompasses 18 incorporated cities and numerous other charming neighborhoods and communities, including downtown’s historic Gaslamp Quarter, Little Italy, Coronado, La Jolla, Del Mar, Carlsbad, Escondido, La Mesa, Hillcrest, Barrio Logan and Chula Vista just to name a few.

San Diego is renowned for its idyllic climate, 70 miles of pristine beaches and a dazzling array of world-class family attractions. Popular attractions include the world-famous San Diego Zoo and San Diego Zoo Safari Park, SeaWorld San Diego and LEGOLAND California. San Diego offers an expansive variety of things to see and do, appealing to guests of all ages from around the world.

In San Diego’s East County, the terrain varies from gentle foothills to mile-high mountains and the historic mining town, Julian, down to the 600,000-acre Anza-Borrego Desert State Park, offering nature-conscious visitors endless opportunities to hike, camp, fish, observe wildlife and much more. In San Diego’s North County, the agricultural community produces quantities of flowers and magnificent produce. Wine growers are also making a mark by growing and harvesting quality grapes that become excellent wines, which are served at some of the most elegant restaurants and resorts in the region. Along the west, 70 miles of Pacific Ocean coastline not only supports year-round outdoor recreation, such as surfing, boating, sailing and swimming, but also important scientific research at the Scripps Institution of Oceanography. To the south, it’s a whole different country, Mexico, featuring its own cultural offerings in various towns along the border and coastline.

DEMOGRAPHICS 3424 & 3434 MONROE ST

3,300,000 T o t a l P o p u l a t i o n i n M e t r o S a n D i e g o

POPULATION BY AGE

6%0-4 Years

18%5-19 Years

8%20-24 Years

29%25-44 Years

24%45-64 Years

13%65+ Years

21M A R K E T O V E R V I E W

E X C L U S I V E L Y L I S T E D B Y

CARSON TRUJILLOSenior Associate

San DiegoDirect: (858)373-3285

Cell: (859)[email protected]

License: CA 01974818

RAYMOND CHOISenior Vice President Investments

San DiegoDirect: (858)373-3136Cell: (858) 735-6632

[email protected]: CA 01297138

Documents

3424 3434 · 2 days ago · NON-ENDORSEMENT & DISCLAIMER NOTICE. CONFIDENTIALITY & DISCLAIMER. The information contained in the following Marketing Brochure is proprietary and strictly