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• NEW CONSTRUCTION 2020 • NO RENT CONTROL• EXCEPTIONAL LOCATION• 100% LEASED UP IN 4 DAYS!
CLEVELAND AVE4250-52
OFFERING OVERVIEW
CBRE is pleased to offer for sale luxury new construction on the border of University Heights and Hillcrest, Central San Diego’s premier residential communities.
The property features a two-bedroom and two-bathroom craftsman house and three new two-bedroom and two and one-half bathroom luxury townhouses. Unit amenities include central air, full size washer/dryer, two-car garage, high-end stainless-steel appliances, outdoor area and secured access gate. Residents also enjoy proximity to restaurants, shopping and entertainment, along with easy access to Highway 163.
San Diego, California 92103
FOR SALE4 New Luxury Units
© 2020 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. Any projections, opinions, or estimates are subject to uncertainty. The information may not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.
PHILIP BUCKLEYVice PresidentLic. 01209801+1 858 646 [email protected]
For more information, please contact:
INVESTMENT HIGHLIGHTS• Exceptional Central San Diego Location• New Construction 2020 – No Rent Control!• Walk to Restaurants, Shopping, and Entertainment• Spacious Floor Plans with High End Finishes • Secured Access Gate, A/C, W/D’s, Two-Car Garages• Convenient Access to Highway 163• 100% Leased Up in 4 days!
PRICE: $2,635,000
PRICE PER UNIT: $658,750
PRICE PER SF: $563
CAP RATE (ACT): 4.42%
CAP RATE (YR 1): 4.82%
GRM (ACT): 16.5
GRM (YR 1): 15.4
APN: 445-291-26-00# OF UNITS: 4YEAR BUILT: 2020 & N/A BUILDING SF: 4677 (approx.)LOT SIZE SF: 6164 (approx.)
UNIT MIX: (1) Craftsman House (2+2) 1179 SF(3) Townhouses (2+2.5) 1140 SF
PARKING: 3 Two-Car Garages & 1 Carport
INVESTMENT SUMMARY BUILDING SPECIFICATIONS
ACTUAL YEAR 1
Annual Gross Income $158,892 $170,809
OPERATING EXPENSESRepairs & Maintenance $3,400 $3,400Utilities $2,600 $2,600Landscape $1,500 $3,000Property Insurance $2,500 $2,500Property Taxes $32,411 $32,411
TOTAL OPERATING EXPENSES ($42,411) ($43,911)
NET OPERATING INCOME $116,482 $126,898
FINANCIAL SUMMARY
ACTUAL YEAR 1
UNITS BD/BA SF RENT TOTAL RENT TOTAL
3 2/2.5 TH 1179 $3,327 $9,981 $3,577 $10,730
1 2/2 Hse 1140 $3,260 $3,260 $3,505 $3,505
RENTAL INCOME
