4 units - fully renovated in 2020 multifamily ......san diego, ca 92131 lic. 01209930 4 units -...
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Multifamily & Investment Sales D: 619.323.8680 [email protected] Lic. 02013338
Office 619 469 3600 10721 Treena St., Suite 200 San Diego, CA 92131 www.PacificCoastCommercial.com Lic. 01209930
4 UNITS - FULLY RENOVATED in 2020
MULTIFAMILY OPPORTUNITY 366-368 W San Marcos Blvd, San Marcos, CA 92069
LOCATION & MARKET OVERVIEW
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THE SUSAN 366-368 W San Marcos Blvd, San Marcos, CA 92069
PROPERTY OVERVIEW & INVESTMENT SUMMARY
FEATURES & FLOORPLAN
INTERIOR PHOTOS
INVESTMENT HIGHLIGHTS
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INVESTMENT HIGHLIGHTS
PROPERTY OVERVIEW
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366-368 W San Marcos Blvd
Parcel Number 220-150-10
Units 4
Property Size +/-4,338 SF (+/-10,717 SF Lot)
Year Built 1993
Fully Renovated 2020
Price $1,995,000
This asset has the opportunity to obtain sub 3% interest
rates by adding points up front. A great opportunity for
any long term investor who is looking to capitalize on
historically low interest rates.
RUBS are incorporated in each individual lease.
Per the Leases 90% of utilities including Water/Sewer,
Trash, Pest Control, Electric and Gas are charged backed
to the tenant.
Just completed, fully renovated in 2020 with approx. 50k
in renovations per unit. Ask the listing agent for the
Matterport scans.
INVESTMENT ANALYSIS — 366-368 W SAN MARCOS BLVD
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# Units Address City Zip
4 366-368 San Marcos Blvd San Marcos 92069
Price GRM CAP Rate
$/Unit
Current Market Current Market
$1,995,000 17.2 16.1 3.8% 4.2% $498,750
$/Square Foot Gross Sq. Ft. Parcel Size Year Built
(Approx.) (Approx.) (Approx.) (Approx.)
$459.89 4,338 10,717 1993
Income Detail Estimated Annual Operating Expenses
# Units Type Rent Total
Estimated Actual Average Rents Management (On Site)
Management (Off Site) $6,228
Unit # 101 3Br/2Ba $2,450 $2,450 Licenses & Fees $1,000
Unit # 102 3Br/2Ba $2,445 $2,445 Utilities (90% RUBS) $719 Miscellaneous $1,700
Unit # 201 3Br/2Ba $2,295 $2,295 Landscaping $1,200 Reserves $0
Unit # 202 3Br/2Ba $2,495 $2,495 Trash Removal $180 Pool $0
Pest Control $44 Insurance $1,407
Other Income: $0 Maintenance $2,720 Taxes $21,825
Total Monthly Income $9,685
Estimated Market Rents Total Annual Operating Expenses (estimated): $37,023
Unit # 101 3Br/2Ba $2,600 $2,600 Expenses Per: Unit $9,256
Unit # 102 3Br/2Ba $2,600 $2,600 GSI 32%
Unit # 201 3Br/2Ba $2,550 $2,550
Unit # 202 3Br/2Ba $2,550 $2,550
Other Income: $0
Total Monthly Income $10,300
Estimated Annual Operating Proforma Actual Market Financing Summary
Gross Scheduled Income $116,880 $123,600 Down Payment: $700,950
Less: Vacancy Factor 3% $3,487 $3,708 35%
Gross Operating Income $112,733 $119,892 Interest Rate: 2.990%
Less: Expenses 32% $37,023 $37,023 Amortized over: 30 Years
Net Operating Income $75,710 $82,869 Proposed Loan Amount: $1,294,050
Less: 1st TD Payments ($65,385) ($65,385) Debt Coverage Ratio:
Current: 1.16
Pre-Tax Cash Flow $10,325 $17,483 Market: 1.27
Cash On Cash Return 1.5% 2.5%
Principal Reduction $27,062 $27,062
Total Potential Return (End of Year One) 5% 6%
Comments
DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS The information contained herein has been obtained from sources believed reliable. While Pacific 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 advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
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CLICK HERE FOR VIRTUAL TOUR
Master Bedroom
Master Bathroom
Bedroom 2
Bedroom 1
Bathroom
4 Total Units: • All Units - 3 Bedroom / 2 Bath • Approx. 1,050 SF Per Unit Home Features: • Open concept living space • Stainless steel appliances including dishwasher and microwave • Quartz countertops • Custom cabinets with soft-close drawers • Oversized kitchen sink • Custom paint • Wood-style flooring • In-unit washer/dryer • A/C in all units • Ceiling fans • Assigned parking • Large patio and back yards select homes
Kitchen Clo
set
W / D
Closet
Closet
Living Room
PROPERTY FEATURES Fl
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ALL UNITS INCLUDE Gas Stove, Refrigerators, Dishwashers,
Garbage Disposals, A/C and Heating
PARKING Available Onsite, which Includes Covered Spaces
EMPLOYMENT RATE San Marcos Unemployment Rate-3.2%
The U.S. Average 3.9%
FUTURE JOB GROWTH Over the Next 10 Years is Predicted to
be 38.4%. The U.S. Average is Predicted to be 33.5%
DOWNTOWN SAN MARCOS Close to Downtown, which
Offers Entertainment, Restaurants, and Services
GREAT FREEWAY ACCESS
Close Proximity to Hwy 78 and I-15
CAL STATE SAN MARCOS & PALOMAR COLLEGE
Easy Biking Distance to All Three Properties
ABUNDANT RETAIL
A Short Drive to Large Big Box Retailers
FAMILY FRIENDLY LOCATION
Close to Multiple Parks, Schools, Health Care
Providers, the San Marcos Education Center,
Gymnasium, Library, and More
INVESTMENT HIGHLIGHTS
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SAN MARCOS ELEMENTARY SCHOOL
SAN MARCOS GYMNASIUM
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LOCATION & MARKET OVERVIEW
CALIFORNIA STATE UNIVERSITY SAN MARCOS
PALOMAR COLLEGE
GRAND PLAZA DOUBLE PEAK PARK
The Susan is in close proximity to everything the great city of
San Marcos has to offer, from miles of trails in the local hills,
to unique dining, shopping opportunities in retail centers, and
hospital services.
Located just over one mile from Cal San Marcos and Home to
Palomar College, the City has also become the heart of
education in north San Diego.
EDUCATION San Marcos is home to Cal State Sam Marcos, Palomar College and the University of St. Augustine. The San Marcos Unified School District is one of the largest school districts in San Diego County and includes 20 schools with diverse educational programs for kindergarten through adult education students.
AMENITIES Known for having some of the best restaurants in North County, old California Restaurant Row features a large concentration of restaurants offering a variety of cuisines. San Marcos also features several golf courses and many fine hotels.
PARKS & RECREATION The city has also become known for its abundance of open space and parks in recent years with miles of trains planned and constructed to facilitate biking throughout the city. One local destination is the top of Double Peak Park, which features a panorama of northern San Diego County from the highest coastal peak in the county.
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PRIME LOCATION
TROLLY
San Diego State University
MEXICO
UCSD
• Easy Biking Distance to California State University San Marcos and Palomar College
> 8 Min to CSUSM | 8 Min to Palomar College
• 21 Minute Drive to Carlsbad Village via Highway 78
• 25 Minute Drive to Encinitas via Highway 78 and I-5
• 3/10 Mile from KB Homes Building 76 Attached 3 & 4 Bedroom Townhomes
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AREA OVERVIEW
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CAL STATE SAN MARCOS
PALOMAR COLLEGE
SAN MARCOS MIDDLE SCHOOL
UNIVERSITY OF ST. AUGUSTINE
GRAND PLAZA
SAN MARCOS LIBRARY
366-368 W SAN MARCOS BLVD
NORDAHL MARKETPLACE
SURROUNDING AMENITIES
# Employer # Employees
1 San Marcos Unified School District 2,407
2 Palomar Community College 1,627
3 Cal State University San Marcos 1,791
4 Hunter Industries 792
5 North Country Health Services 762
6 United Parcel Service 501
7 Kaiser Permanente 403
8 Walmart 350
9 Costco 350
10 Teamwork Athletic Apparel 259
11 Lusardi Construction Company 250
12 Fluid Components International 245
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SUBJECT PROPERTY
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EMPLOYMENT
1 mile 3 mile 5 mile
POPULATION
Total Population (2020) 18,915 97,653 203,982
Total Population (2025) 19,724 100,928 210,042
2010 Census 15,398 84,540 180,953
Change in Population (2020-2025) 4.28% 3.35% 2.97%
Average Age 32.40 36.90 37.60
HOUSEHOLDS
Average Household Size 3.40 3.00 2.80
2020 Total Households 5,534 32,741 71,044
HH Growth (2020-2025) 4.75% 3.53% 3.06%
Owner Occupied Housing 2,059 20,415 43,041
Renter Occupied Housing 3,475 12,326 28,003
INCOME
Average Household Income (2020) $86,040 $101,663 $105,970
Median Household Income (2020) $62,941 $77,461 $81,738
RACE/ETHNICITY
White 15,733 79,407 166,769
African American 576 2,915 6,160
Asian 1,575 9,418 18,724
Other 611 4,078 8,732
REAL ESTATE MARKET SNAPSHOT
Median Home Value $585,106 $601,788 637,492
Median Year Built 1992 1990 1988
Total Businesses 1,308 4,380 9,936
Total Employees 13,563 39,728 100,564
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AREA DEMOGRAPHICS
4 UNITS - FULLY RENOVATED in 2020 MULTI-FAMILY OPPORTUNITY
THE
SUSAN
Multifamily & Investment Sales D: 619.323.8680 [email protected] Lic. 02013338
366-368 W SAN MARCOS BLVD, SAN MARCOS, CA 92069 14
Pacific Coast Commercial 10721 Treena Street, Suite 200 San Diego, CA 92131 www.PacificCoastCommercial.com Lic. 01209930
The information contained herein has been given to us by
the owner of the property or other sources we deem reliable,
we have no reason to doubt its accuracy, but we do not
guarantee it. All information including zoning and use
should be verified prior to purchase.