4 Units | 4017 49th Street, San Diego , CA, 92105

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4 UnitsCONTENTS

We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice.  We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.

01 Executive Summary Investment Summary 5 Unit Mix Summary 6 Location Summary 7

02 Property Description Property Features 9 Aerial Map 10 Property Images 11

03 Financial Analysis Income & Expense Analysis 22 Cash Flow Analysis 23 4017 49th St 92105 (1) 25

04 Demographics Demographics 27 Demographic Charts 29

Exclusively Marketed by:

Jason LeeAssociate858-336-9688 License # 02068011 lee@scc1031.com

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from South Coast Commercial Inc.and it should not be made available to any other person or entity without the written consent of South Coast Commercial Inc..

By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees thatrecipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to South CoastCommercial Inc.. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property.

The information contained herein is not a substitute for a thorough due diligence investigation. South Coast Commercial Inc. has not made any investigation, and makes no warranty orrepresentation 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 andimprovements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvementsthereon, or 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 offering memorandum has been obtained from sources we believe reliable; however, South Coast Commercial Inc. has not verified, and will not verify, any of theinformation contained herein, nor has South Coast Commercial Inc. conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding theaccuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsiblefor their costs and expenses of investigating the subject property.

4 Units Confidentiality and Disclaimer | 03

CONFIDENTIALITY AND DISCLAIMER

PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT SOUTH COAST COMMERCIAL INC. FOR MORE DETAILS.Copyright © 2020 CREOP, LLC. All Rights Reserved.

4 Units | Executive Sum

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Executive Summary 4 U

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Investment Summary

Unit Mix Summary

Location Summary

4 Units Investment Summary | 05

OFFERING SUMMARYADDRESS 4017 49th Street

San Diego CA 92105COUNTY San DiegoMARKET San DiegoBUILDING SF 1,932LAND SF 6,378NUMBER OF UNITS 4YEAR BUILT 1951OWNERSHIP TYPE Fee Simple

FINANCIAL SUMMARYOFFERING PRICE $925,000PRICE PSF $478.78PRICE PER UNIT $231,250OCCUPANCY 97.00 %NOI (CURRENT) $47,159NOI (Pro Forma) $47,159CAP RATE (CURRENT) 5.10 %CAP RATE (Pro Forma) 5.10 %GRM (CURRENT) 13.29GRM (Pro Forma) 13.29

PROPOSED FINANCINGLOAN TYPEDOWN PAYMENT $250,000LOAN AMOUNT $675,000INTEREST RATE 4.25 %ANNUAL DEBT SERVICE $39,849LOAN TO VALUE 73 %

DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2019 Population 59,226 265,077 661,7362019 Median HH Income $37,888 $55,277 $60,4742019 Average HH Income $57,828 $78,106 $84,108

South Coast Commercial is pleased to present the sale of 4017 49thStreet San Diego, CA 92105. The property was built in 1951 and iscomprised of (4) one-bedroom, one-bathroom units with a separate two-car garage. The units are approximately 483 square feet each on a 6,378square foot lot. This is a great opportunity to either occupy one of the unitsand rent out the remaining or purchase as a stabilized investment in oneof the strongest rental markets in the County.

Do not walk on property or disturb tenants as they are unaware of a sale.

4 Units Unit Mix Summary | 06

Actual MarketUnit Mix # Units Square Feet Current Rent Rent PSF Monthly Income Market Rent Market Rent PSF Market Income

1 bd + 1 ba 4 483 $1,450 $3.00 $5,800 $1,450 $3 $5,800

Totals/Averages 4 483 $1,450 $3.00 $5,800 $1,450 $3 $5,800

4 Units Location Summary | 07

Socially and economically, Central San Diego has a highconcentration businesses and households. Businesses tendto be smaller and wider spread than to the north and east.Like other urban mesa neighborhoods north of Balboa Park,Central San Diego has a high rate of pedestrian activity,relative to the rest of San Diego. Central San Diego islocated next to many of the major highways with closeaccess to the coast, beaches, business districts, downtown,and Mexico.

PLEASE DO NOT WALK ON THE PROPERTY ORDISTURB TENANTS.

Regional Map

Locator Map

4 Units | Property D

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Property Description 4 U

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Property Features

Aerial Map

Parcel Map

Additional Maps

Property Images

4 Units Property Features | 09

PROPERTY FEATURESNUMBER OF UNITS 4BUILDING SF 1,932LAND SF 6,378YEAR BUILT 1951# OF PARCELS 1TOPOGRAPHY FlatNUMBER OF STORIES 2NUMBER OF BUILDINGS 4PARKING RATIO 2:1NUMBER OF GARAGES (1) Two Car Garage

UTILITIESWATER OwnerTRASH OwnerGAS TenantELECTRIC TenantRUBS Tenant

CONSTRUCTIONFOUNDATION SlabFRAMING WoodEXTERIOR StuccoPARKING SURFACE ConcreteROOF Pitched/CompositeLANDSCAPING Mature

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4 Units | Financial A

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Financial Analysis 4 U

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Income & Expense

Multiyear Cash Flow Projections

4017 49th St 92105 (1)

4 Units Income & Expense Analysis | 22

INCOME CURRENT PRO FORMAGross Potential Income $69,600 $69,600

Less: General Vacancy $2,088 $2,088

Effective Gross Income $67,512 $67,512

Less: Expenses $20,353 $20,353

Net Operating Income $47,159 $47,159

EXPENSES CURRENT PRO FORMA

Gas & Electric $23 $90 $23 $90

Water & Sewer $600 $2,400 $600 $2,400

Landscaping $385 $1,540 $385 $1,540

Trash Removal $350 $1,400 $350 $1,400

Pest Control $150 $600 $150 $600

Maintenance $500 $2,000 $500 $2,000

Licenses & Fees $63 $250 $63 $250

Insurance $313 $1,250 $313 $1,250

Taxes $2,706 $10,823 $2,706 $10,823

Total Operating Expense $5,088 $20,353 $5,088 $20,353

Annual Debt Service $9,962 $39,849 $9,962 $39,849

Expense / SF $10.53 $10.53

% of EGI 30.15 % 30.15 %

Per Unit Per Unit

REVENUE ALLOCATION

DISTRIBUTION OF EXPENSES

4 Units Cash Flow Analysis | 23

CASH FLOWCalendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Gross Potential RevenueGross Rental Income $69,600 $69,600 $73,080 $76,734 $80,571 $84,599 $88,829 $93,271 $97,934 $102,831Gross Potential Income $69,600 $69,600 $73,080 $76,734 $80,571 $84,599 $88,829 $93,271 $97,934 $102,831General Vacancy $2,088 $2,088 $2,192 $2,302 $2,417 $2,538 $2,665 $2,798 $2,938 $3,085Effective Gross Income $67,512 $67,512 $70,888 $74,432 $78,154 $82,061 $86,164 $90,473 $94,996 $99,746Operating ExpensesGas & Electric $90 $90 $93 $95 $98 $101 $104 $107 $111 $114Water & Sewer $2,400 $2,400 $2,472 $2,546 $2,623 $2,701 $2,782 $2,866 $2,952 $3,040Landscaping $1,540 $1,540 $1,540 $1,540 $1,540 $1,540 $1,540 $1,540 $1,540 $1,540Trash Removal $1,400 $1,400 $1,442 $1,485 $1,530 $1,576 $1,623 $1,672 $1,722 $1,773Pest Control $600 $600 $618 $637 $656 $675 $696 $716 $738 $760Maintenance $2,000 $2,000 $2,060 $2,122 $2,185 $2,251 $2,319 $2,388 $2,460 $2,534Licenses & Fees $250 $250 $258 $265 $273 $281 $290 $299 $307 $317Insurance $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250Taxes $10,823 $10,823 $10,823 $10,823 $10,823 $10,823 $10,823 $10,823 $10,823 $10,823Total Operating Expense $20,353 $20,353 $20,555 $20,763 $20,978 $21,199 $21,427 $21,661 $21,902 $22,151Net Operating Income $47,159 $47,159 $50,332 $53,669 $57,176 $60,862 $64,738 $68,812 $73,094 $77,595Annual Debt Service $39,849 $39,849 $39,849 $39,849 $39,849 $39,849 $39,849 $39,849 $39,849 $39,849Cash Flow $7,310 $7,310 $10,483 $13,819 $17,326 $21,013 $24,889 $28,962 $33,245 $37,746

Effective Gross Income vs Operating Expenses Cash Flow

4 Units Cash Flow Analysis | 24

Calendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Financial MetricsCash on Cash Return b/t 2.92 % 2.92 % 4.19 % 5.53 % 6.93 % 8.41 % 9.96 % 11.59 % 13.30 % 15.10 %CAP Rate 5.10 % 5.10 % 5.44 % 5.80 % 6.18 % 6.58 % 7.00 % 7.44 % 7.90 % 8.39 %Debt Coverage Ratio 1.18 1.18 1.26 1.35 1.43 1.53 1.62 1.73 1.83 1.95Operating Expense Ratio 30.14 % 30.14 % 28.99 % 27.89 % 26.84 % 25.83 % 24.86 % 23.94 % 23.05 % 22.20 %Gross Multiplier (GRM) 13.29 13.29 12.66 12.05 11.48 10.93 10.41 9.92 9.45 9.00Loan to Value 73.00 % 73.00 % 72.95 % 72.95 % 72.96 % 72.98 % 72.99 % 72.98 % 72.95 % 72.98 %Breakeven Ratio 89.17 % 89.17 % 85.21 % 81.43 % 77.83 % 74.39 % 71.12 % 67.99 % 65.00 % 62.16 %Price / SF $478.78 $478.78 $478.78 $478.78 $478.78 $478.78 $478.78 $478.78 $478.78 $478.78Price / Unit $231,250 $231,250 $231,250 $231,250 $231,250 $231,250 $231,250 $231,250 $231,250 $231,250Income / SF $34.94 $34.94 $36.69 $38.52 $40.45 $42.47 $44.59 $46.82 $49.16 $51.62Expense / SF $10.53 $10.53 $10.63 $10.74 $10.85 $10.97 $11.09 $11.21 $11.33 $11.46

# Units Zip

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Current Market Current Market13.3 13.3 5.1% 5.1%

Gross Sq. Ft. Parcel Size(Approx.) (Approx.) (Approx.)$478.78 1932 6,378

# Units Type Rent TotalRent Range

Gas & Electric $90 Licenses & Fees $250Water & Sewer $2,400 Miscellaneous $0

4 1Br/1Ba $1,450 $5,800 Landscaping $1,540 Reserves $0Trash Removal $1,400 Pool $0Pest Control $600 Insurance $1,250

Total Monthly Income $5,800 Maintenance $2,000 Taxes $10,823

Total Annual Operating Expenses (estimated): $20,353

Expenses Per: Unit $5,088% of Actual GSI 29%

4 1Br/1Ba $1,450 $5,800

Total Monthly Income $5,800Estimated Annual Operating Proforma Financing Summary

Actual MarketGross Scheduled Income $69,600 $69,600 Downpayment: $250,000Less: Vacancy Factor 3% $2,088 $2,088 27%Gross Operating Income $67,512 $67,512 Interest Rate: 4.250%Less: Expenses 29% $20,353 $20,353 Amortized over: 30 YearsNet Operating Income $47,160 $47,160 Proposed Loan Amount: $675,000

Less: 1st TD Payments ($39,847) ($39,847) Debt Coverage Ratio:Current: 1.18

Pre-Tax Cash Flow $7,312 $7,312 Market: 1.18Cash On Cash Return 2.9% 2.9%Principal Reduction $11,380 $11,380Total Potential Return (End of Year One) 7% 7%

Jason Lee | Jason@jleecre.com | www.jleecre.com DRE#02068011

advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Income Detail

Estimated Market Rents

Estimated Actual Average Rents

The information contained herein has been obtained from sources believed reliable. While South Coast Commercial does not doubt its accuracy, we have not verified it and make no guarantee,

warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for

example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax, financial and legal advisors. You and your

Comments

4017 49th St

$/Square Foot

$231,250

Estimated Annual Operating Expenses

Yr. Built(Approx.)

1951

Map Code

$925,000

APARTMENT INVESTMENT INFORMATION

Address CitySan Diego

GRM CAP Rate$/UnitPrice

CASHFLOWANALYSIS

4 Units 4017 49th St 92105 (1) | 25

4 Units | D

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Demographic Details

Demographic Charts

4 Units Demographics | 27

POPULATION 1 MILE 3 MILE 5 MILE

2000 Population 59,540 257,192 611,779

2010 Population 57,040 253,104 622,586

2019 Population 59,226 265,077 661,736

2024 Population 60,609 272,818 687,531

2019 African American 7,455 31,668 72,265

2019 American Indian 446 2,136 4,965

2019 Asian 12,535 33,096 79,882

2019 Hispanic 30,998 112,416 268,587

2019 Other Race 16,652 56,093 129,008

2019 White 19,264 125,451 332,472

2019 Multiracial 2,729 15,423 39,199

2019-2024: Population: Growth Rate 2.30 % 2.90 % 3.85 %

2019 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE

less than $15,000 3,169 10,265 25,043

$15,000-$24,999 2,820 9,491 21,908

$25,000-$34,999 2,706 10,250 22,759

$35,000-$49,999 2,913 13,626 30,610

$50,000-$74,999 2,967 18,392 45,199

$75,000-$99,999 1,630 11,708 31,763

$100,000-$149,999 1,528 13,664 38,900

$150,000-$199,999 473 4,946 15,460

$200,000 or greater 654 5,489 15,546

Median HH Income $37,888 $55,277 $60,474

Average HH Income $57,828 $78,106 $84,108

HOUSEHOLDS 1 MILE 3 MILE 5 MILE

2000 Total Housing 19,072 97,655 229,741

2010 Total Households 18,163 93,624 230,922

2019 Total Households 18,861 97,830 247,189

2024 Total Households 19,268 100,627 258,311

2019 Average Household Size 3.11 2.66 2.60

2000 Owner Occupied Housing 3,904 35,132 88,715

2000 Renter Occupied Housing 14,459 59,315 132,837

2019 Owner Occupied Housing 4,085 35,284 94,722

2019 Renter Occupied Housing 14,776 62,546 152,467

2019 Vacant Housing 1,105 5,098 15,275

2019 Total Housing 19,966 102,928 262,464

2024 Owner Occupied Housing 4,254 36,502 98,489

2024 Renter Occupied Housing 15,014 64,126 159,822

2024 Vacant Housing 1,126 5,061 15,415

2024 Total Housing 20,394 105,688 273,726

2019-2024: Households: Growth Rate 2.15 % 2.85 % 4.40 %

Source: esri

4 Units Demographics | 28

2019 POPULATION BY AGE 1 MILE 3 MILE 5 MILE

2019 Population Age 30-34 4,646 22,727 59,351

2019 Population Age 35-39 4,112 19,977 50,692

2019 Population Age 40-44 3,615 16,793 41,093

2019 Population Age 45-49 3,451 16,137 39,324

2019 Population Age 50-54 3,062 14,924 37,117

2019 Population Age 55-59 2,757 14,257 36,869

2019 Population Age 60-64 2,343 12,458 32,950

2019 Population Age 65-69 1,881 10,025 26,618

2019 Population Age 70-74 1,422 7,165 20,043

2019 Population Age 75-79 936 4,576 13,748

2019 Population Age 80-84 581 3,051 9,616

2019 Population Age 85+ 606 3,775 11,440

2019 Population Age 18+ 42,515 206,579 522,023

2019 Median Age 30 33 34

2019 INCOME BY AGE 1 MILE 3 MILE 5 MILE

Median Household Income 25-34 $41,975 $56,629 $63,050

Average Household Income 25-34 $62,302 $76,594 $83,291

Median Household Income 35-44 $41,877 $64,286 $73,967

Average Household Income 35-44 $62,715 $87,518 $95,206

Median Household Income 45-54 $46,143 $66,383 $74,799

Average Household Income 45-54 $65,459 $91,294 $100,177

Median Household Income 55-64 $39,104 $59,122 $65,136

Average Household Income 55-64 $59,798 $83,199 $89,525

Median Household Income 65-74 $28,200 $46,587 $51,373

Average Household Income 65-74 $46,594 $70,512 $75,501

Average Household Income 75+ $37,930 $53,792 $54,813

2024 POPULATION BY AGE 1 MILE 3 MILE 5 MILE

2024 Population Age 30-34 5,035 23,012 61,676

2024 Population Age 35-39 4,302 20,431 53,229

2024 Population Age 40-44 3,775 18,280 46,424

2024 Population Age 45-49 3,289 15,755 39,215

2024 Population Age 50-54 3,171 15,248 37,962

2024 Population Age 55-59 2,812 14,067 35,595

2024 Population Age 60-64 2,471 13,125 34,574

2024 Population Age 65-69 2,037 11,153 30,139

2024 Population Age 70-74 1,571 8,461 23,585

2024 Population Age 75-79 1,136 6,051 17,748

2024 Population Age 80-84 689 3,670 11,185

2024 Population Age 85+ 608 3,778 11,834

2024 Population Age 18+ 44,208 214,414 546,961

2024 Median Age 31 34 35

2024 INCOME BY AGE 1 MILE 3 MILE 5 MILE

Median Household Income 25-34 $48,754 $66,645 $76,415

Average Household Income 25-34 $71,626 $90,342 $98,779

Median Household Income 35-44 $49,557 $78,377 $86,013

Average Household Income 35-44 $75,317 $103,614 $112,342

Median Household Income 45-54 $52,686 $78,548 $88,012

Average Household Income 45-54 $75,874 $106,956 $118,195

Median Household Income 55-64 $46,858 $68,053 $76,236

Average Household Income 55-64 $71,252 $98,148 $105,645

Median Household Income 65-74 $33,309 $55,154 $59,707

Average Household Income 65-74 $56,964 $85,611 $91,056

Average Household Income 75+ $46,072 $65,792 $67,181

4 Units Demographic Charts | 29

1 Mile Radius 3 Mile Radius 5 Mile Radius

2019 Household Income

1 Mile Radius 3 Mile Radius 5 Mile Radius

2019 Population by Race

4 Units Demographic Charts | 30

2019 Household Occupancy - 1 Mile Radius

Average Income Median Income

2019 Household Income Average and Median

4 Units

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Exclusively Marketed by:

Jason LeeAssociate858-336-9688 License # 02068011 lee@scc1031.com