3753 Veteran Ave
- 20% Upside in rents
- 11.4 x Gross; 5.9% cap with existing rents; 9.5 x Gross and 7.5% cap with rents at market
Property Description
Assessor's records indicate a bldg. S.F. of 3,748. Seller has added a 1-BR, 1-BA ADU unit of approx. 395 S.F. for a total of 4,143 S.F. Earthquake retrofit work has been completed. After moratorium expires, the rents may be increased by the annual percentage increase allowable by the rent control plus one half of the EQ retrofit cost amortized over 10-years. Priced to sell. 11.4 x gross & 5.9% cap with existing rents. 9.5 x gross and 7.5% cap with rents at market.
Key Property Information
| Listing Status: | Sold |
|---|---|
| Price: | $1,900,000 |
| No. of Units: | 6 |
| Cap Rate: | 5.90% |
| GRM /GIM: | 11.40 |
| Year Built: | 1965 |
| Building Size: | 4,143 Sq ft |
| Lot Size: | 4,662.00 Acres |
| No. of Stories: | 2 |
| APN: | 4252-019-013 |
| Opportunity Zone: | No |
| Price per unit: | $316,667 |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|---|---|---|
| 3/2 | 2 | 0.00 | 2852.00 |
| 1/1 | 2 | 0.00 | 2466.00 |
| B/1 | 2 | 0.00 | 1750.00 |
FINANCIAL DETAILS
| Income/expense info: | Actual |
|---|---|
| Financial year: | 2023 |
| Gross income: | 174369.00 |
| Effective Gross income: | 169138.00 |
| Operating expenses: | 52048.00 |
| Net operating income: | 117090.00 |
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