$1,950,000
942 23rd Street
Details
Property Type Multifamily
Sub Type Apartment Building, Furnished units
Square Footage 2,681
Net Rentable (SqFt) 2,681
Units 6
Cap Rate 5.28%
NOI $102,900
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 6.08%
Pro-Forma NOI $118,626
Price per SqFt $727
Class B
Year Built 1960
Year Renovated 2021
Buildings 2
Stories 2
Lot Size (SqFt) 4,828
Zoning RM-1-2 - Residential Multi-Family Zoning
Investment Type Stabilized
Six Fully Furnished Units in the Heart of Golden Hill
Marketing description
BridgePoint Realty, Inc. is proud to present 942 23rd St, a thoughtfully renovated apartment community in the heart of Golden Hill, ideally positioned to capture strong rental demand with fully furnished units. Combining attractive in-place cash flow with exceptional long-term upside, the property features an expansive shared outdoor amenity area complete with an outdoor kitchen, BBQ area, gas fire pit, shaded patio and spa — creating a highly desirable lifestyle experience for residents. Situated on a well-appointed 4,828 SF lot, the property consists of five legal units plus one non-conforming apartment unit, along with separately metered utilities enhanced by installed solar panels for improved operating efficiency.
Contact Alex Kohl
Investment highlights
- Fully furnished units
- Expansive patio area with outdoor kitchen, jacuzzi, grill and lounging area
- Five legal units, one non-conforming unit
- Strong in-place rent with upside
- Seller owned solar panels
Listing Contacts
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Loan Amount
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Annual Debt Service
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$--
Annual Cash Flow
$102,900.00
$8,575.00/mo
Valuation Metrics
0
DSCR
5.28%
Cap Rate
5.28%
ROI
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