Listed by SoCal Coastal Capital
$2,875,000
Chula Bella Apartments
Details
APN 619-221-35-00
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,940
Units 10
Cap Rate 4.85%
NOI $139,493
Tenancy Multi
Price per SqFt $484
Class B
Year Built 1970
Buildings 1
Lot Size (SqFt) 11,761
Zoning CCP - Mixed Use Residential
Parking Spaces 10 spaces
Parking per 1,000 SqFt 1.68
Investment Type Stabilized
Turn Key Property in Up and Coming Chula Vista
Marketing description
SoCal Coastal Capital is proud to present Chula Bella Apartments located on 1225 Third Ave. This turnkey 10-unit property offers an opportunity to acquire a fully stabilized asset on Third Avenue. Built in 1970, the property has been fully renovated with in place RUBS. All units are 1-bed/1-bath units averaging 594 sq ft. with a desirable layout. The building is situated on an 11,761 square foot lot and totals 5,940 rentable square footage. Capital improvements include new railing, new roof, and plumbing. Ample on-site parking available with 10 parking spaces. It boasts a WALK SCORE of 81 with zoning designation CCP-Mixed Use Residential. Call or email listing agent for Offering Memorandum.
Investment highlights
- Turnkey Asset - Updated Roof, ABS Plumbing, & In-Place RUBS
- Strong Rental Appeal - Highly desirable location near Third Avenue Village with strong demand drivers and convenient access to major freeways, making it highly attractive to a wide pool of prospective tenants.
- Conveniently Walkable Area - Excellent walkability, with tenants able to easily access nearby shops, dining, and everyday conveniences along Third Avenue Village.
- Proximity Gaylord Development - Gaylord Pacific Resort & Convention Center is transforming the Chula Vista Bayfront into a premier destination, driving tourism and economic growth in the surrounding area.
Listing Contacts
Listed by SoCal Coastal Capital
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$139,493.00
$11,624.42/mo
Valuation Metrics
0
DSCR
4.85%
Cap Rate
4.85%
ROI
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