The Kane Group Presents: 6752 Solita Avenue

SALE

6 7 5 2 S O L I TA AV E $4,250,000 6752 Solita Ave San Diego, CA 92115

AVAILABLE SPACE 9,500 SF

AREA

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LEAS /

WEST

La Mesa

OFFICE Jeff Kane 760 518 4900 JeffKaneRE@gmail.com CalDRE #01915649

Nick Kane 760 518 6552 kanerealestateservices@gmail.com CalDRE #01968022

©2021 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker Commercial logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Equal Opportunity Act.

COLDWELL BANKER COMMERCIAL WEST 620 First Avenue, 2nd Floor, San Diego, CA 92101 619.325.0405

SALE CONFIDENTIALITY AGREEMENT This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the Coldwell Banker Commercial affiliate or by the Seller.

The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections.

This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.

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Jeff Kane

Nick Kane

760 518 4900 JeffKaneRE@gmail.com CalDRE #01915649

760 518 6552 kanerealestateservices@gmail.com CalDRE #01968022

WEST

S A L E / L E A S E

6 7 5 2 S O L I TA AV E 6752 Solita Ave, San Diego, CA 92115

Property Overview Location Map Demographics Map & Report Property Summary Property Description Property Details & Highlights Regional Map Financial Summary Rent Roll Additional Photos Meet the Team

CBCWORLDWIDE.COM

Jeff Kane

Nick Kane

760 518 4900 JeffKaneRE@gmail.com CalDRE #01915649

760 518 6552 kanerealestateservices@gmail.com CalDRE #01968022

WEST

S A L E / L E A S E

6 7 5 2 S O L I TA AV E 6752 Solita Ave, San Diego, CA 92115

CLICK HERE To view the area on Google Maps

OFFERING SUMMARY Sale Price:

$4,250,000

Number Of Units:

10

Cap Rate:

3.37%

NOI:

$143,435

Rentable SF:

9,500

Lease Rate:

N/A

Lot Size:

32,670 SF

Building Size: Zoning:

PROPERTY OVERVIEW

9,500 SF Apartment House 5+ Units

Market:

La Mesa

Price / SF:

$447.37

Rare La Mesa ten-plex. Is a terrific opportunity for investors. Hot San Diego Rental market means great upside potential for rent increases with some TLC. Rarely available, these units are all 3 bedroom, 2 baths. Centrally located in quaint La Mesa, these units are just minutes to the 8 freeway, 125 and 94 and close by San Diego State University. These unique cottages are all freestanding with no common walls. (Like 10 separate homes) All units have dedicated garage parking. Plenty of visitor parking and close by shopping with great restaurants nearby. Washer and dryer hookups in all units. Units have private patios.

All units have gas stoves and water heaters. Each unit is individually metered for gas and electricity.

PROPERTY HIGHLIGHTS Close to SDSU and Centrally Located to Major Freeways and Shopping Centers Potential Value Add All Units are Detached with single car garage All Units have private back patio Current Rents are below market average Location has high rent demand

CBCWORLDWIDE.COM

Jeff Kane

Nick Kane

760 518 4900 JeffKaneRE@gmail.com CalDRE #01915649

760 518 6552 kanerealestateservices@gmail.com CalDRE #01968022

WEST

S A L E / L E A S E

6 7 5 2 S O L I TA AV E 6752 Solita Ave, San Diego, CA 92115

CBCWORLDWIDE.COM

Jeff Kane

Nick Kane

760 518 4900 JeffKaneRE@gmail.com CalDRE #01915649

760 518 6552 kanerealestateservices@gmail.com CalDRE #01968022

WEST

S A L E / L E A S E

6 7 5 2 S O L I TA AV E 6752 Solita Ave, San Diego, CA 92115 POPULATION

1 MILE

2 MILES

3 MILES

Total Population

26,650

89,318

191,516

Average age

30.6

32.8

34.7

Average age (Male)

30.8

32.7

34.2

Average age (Female)

30.2

32.8

34.9

1 MILE

2 MILES

3 MILES

9,917

33,350

71,912

# of persons per HH

2.7

2.7

2.7

Average HH income

$63,150

$64,858

$64,360

Average house value

$415,336

$465,961

$489,911

HOUSEHOLDS & INCOME Total households

* Demographic data derived from 2010 US Census

CBCWORLDWIDE.COM

Jeff Kane

Nick Kane

760 518 4900 JeffKaneRE@gmail.com CalDRE #01915649

760 518 6552 kanerealestateservices@gmail.com CalDRE #01968022

WEST

S A L E / L E A S E

6 7 5 2 S O L I TA AV E 6752 Solita Ave, San Diego, CA 92115

PROPERTY DESCRIPTION

OFFERING SUMMARY

Rare La Mesa ten-plex. Is a terrific opportunity for investors. Hot San Diego Rental market means great upside potential for rent increases with some TLC. Rarely available, these units are all 3 bedroom, 2 baths. Centrally located in quaint La Mesa, these units are just minutes to the 8 freeway, 125 and 94 and close by San Diego State University.

These unique cottages are all freestanding with no common walls. (Like 10 separate homes) All units have dedicated garage parking. Plenty of visitor parking and close by shopping with great restaurants nearby. Washer and dryer hookups in all units. Units have private patios. All units have gas stoves and water heaters. Each unit is individually metered for gas and electricity.

Sale Price:

$4,250,000

Lease Rate:

N/A

Number of Units:

10

Rentable SF:

9,500

Lot Size:

32,670 SF

Building Size:

9,500 SF

NOI:

PROPERTY HIGHLIGHTS

$143,435.00

Cap Rate:

3.37%

DEMOGRAPHICS

1 MILE

2 MILES

3 MILES

Total Households

9,917

33,350

71,912

CBCWORLDWIDE.COM

Jeff Kane

Nick Kane

760 518 4900 JeffKaneRE@gmail.com CalDRE #01915649

760 518 6552 kanerealestateservices@gmail.com CalDRE #01968022

WEST

S A L E / L E A S E

6 7 5 2 S O L I TA AV E 6752 Solita Ave, San Diego, CA 92115 PROPERTY DESCRIPTION

Rare La Mesa ten-plex. Is a terrific opportunity for investors. Hot San Diego Rental market means great upside potential for rent increases with some TLC. Rarely available, these units are all 3 bedroom, 2 baths. Centrally located in quaint La Mesa, these units are just minutes to the 8 freeway, 125 and 94 and close by San Diego State University.

These unique cottages are all freestanding with no common walls. (Like 10 separate homes) All units have dedicated garage parking. Plenty of visitor parking and close by shopping with great restaurants nearby. Washer and dryer hookups in all units. Units have private patios. All units have gas stoves and water heaters. Each unit is individually metered for gas and electricity.

LOCATION DESCRIPTION Drive by only, shown with an accepted offer. Do Not Disturb Tenants. Tenants do not know property is for sale. Great urban units in the heart of La Mesa. Plenty of rental upside through upgrading the interiors with a little TLC. If a vacancy occurs, it is rarely vacant for more than a couple of days. The close proximity to the freeway and San Diego State access makes rental of these units highly desirable.

CBCWORLDWIDE.COM

Jeff Kane

Nick Kane

760 518 4900 JeffKaneRE@gmail.com CalDRE #01915649

760 518 6552 kanerealestateservices@gmail.com CalDRE #01968022

WEST

S A L E / L E A S E

6 7 5 2 S O L I TA AV E 6752 Solita Ave, San Diego, CA 92115 Building Name

6752 Solita Ave

Property Type

Multifamily

Property Subtype

Low-Rise/Garden

APN

468-380-19-00

Building Size

9,500 SF

Lot Size

32,670 SF

Free Standing

Yes

Rare La Mesa ten-plex. Is a terrific opportunity for investors. Hot San Diego Rental market means great upside potential for rent increases with some TLC. Rarely available, these units are all 3 bedroom, 2 baths. Centrally located in quaint La Mesa, these units are just minutes to the 8 freeway, 125 and 94 and close by San Diego State University.

These unique cottages are all freestanding with no common walls. (Like 10 separate homes) All units have dedicated garage parking. Plenty of visitor parking and close by shopping with great restaurants nearby. Washer and dryer hookups in all units. Units have private patios. All units have gas stoves and water heaters. Each unit is individually metered for gas and electricity.

CBCWORLDWIDE.COM

Jeff Kane

Nick Kane

760 518 4900 JeffKaneRE@gmail.com CalDRE #01915649

760 518 6552 kanerealestateservices@gmail.com CalDRE #01968022

WEST

S A L E / L E A S E

6 7 5 2 S O L I TA AV E 6752 Solita Ave, San Diego, CA 92115

CLICK HERE

Sanarea Diego, CA To view the on Google Maps

CBCWORLDWIDE.COM

Jeff Kane

Nick Kane

760 518 4900 JeffKaneRE@gmail.com CalDRE #01915649

760 518 6552 kanerealestateservices@gmail.com CalDRE #01968022

WEST

S A L E / L E A S E

6 7 5 2 S O L I TA AV E 6752 Solita Ave, San Diego, CA 92115 INVESTMENT OVERVIEW Price Price per Unit GRM CAP Rate Cash-on-Cash Return (yr 1) Total Return (yr 1) Debt Coverage Ratio

OPERATING DATA

6752 SOLITA AVE $4,250,000 $425,000 15.5 3.4% 3.37 % $143,435 -

6752 SOLITA AVE

Gross Scheduled Income Other Income Total Scheduled Income Vacancy Cost Gross Income Operating Expenses Net Operating Income Pre-Tax Cash Flow

$275,150 $4,557 $279,707 $13,757 $265,955 $122,520 $143,435 $143,435

CBCWORLDWIDE.COM

Jeff Kane

Nick Kane

760 518 4900 JeffKaneRE@gmail.com CalDRE #01915649

760 518 6552 kanerealestateservices@gmail.com CalDRE #01968022

WEST

S A L E / L E A S E

6 7 5 2 S O L I TA AV E 6752 Solita Ave, San Diego, CA 92115 UNIT

UNIT

UNIT

UNIT

LEASE

LEASE

CURRENT

CURRENT

MARKET

MARKET

SECURITY

NUMBER

BED

BATH

SIZE (SF)

START

END

RENT

RENT (PER SF)

RENT

RENT/SF

DEPOSIT

6752

3

2

950

4/5/2019

4/4/2020

$2,095

$2.21

$2,600

$2.74

$900

6754

3

2

950

11/21/2017

8/31/2022

$2,075

$2.18

$2,600

$2.74

$1,000

6756

3

2

950

$0

$0.00

$2,600

$2.74

$0

6758

3

2

950

10/12/2019

7/31/2023

$4,609

$4.85

$2,600

$2.74

$1,500

6760

3

2

950

7/10/2020

7/31/2022

$2,234

$2.35

$2,600

$2.74

$2,195

6762

3

2

950

4/1/2016

2/9/2020

$2,050

$2.16

$2,600

$2.74

$1,000

6764

3

2

950

12/1/2013

2/29/2020

$2,050

$2.16

$2,600

$2.74

$500

6766

3

2

950

5/14/2014

8/31/2018

$2,275

$2.39

$2,600

$2.74

$500

6768

3

2

950

2/1/2021

4/30/2020

$2,090

$2.20

$2,600

$2.74

$0

6770

3

2

950

3/1/2019

7/31/2022

$1,730

$1.82

$2,600

$2.74

$700

$21,208

$2.23

$26,000

$2.74

$8,295

Totals/Averages

9,500

CBCWORLDWIDE.COM

Jeff Kane

Nick Kane

760 518 4900 JeffKaneRE@gmail.com CalDRE #01915649

760 518 6552 kanerealestateservices@gmail.com CalDRE #01968022

WEST

S A L E / L E A S E

6 7 5 2 S O L I TA AV E 6752 Solita Ave, San Diego, CA 92115

CBCWORLDWIDE.COM

Jeff Kane

Nick Kane

760 518 4900 JeffKaneRE@gmail.com CalDRE #01915649

760 518 6552 kanerealestateservices@gmail.com CalDRE #01968022

WEST

S A L E / L E A S E

6 7 5 2 S O L I TA AV E 6752 Solita Ave, San Diego, CA 92115

JEFF KANE

NICK KANE

President- Coldwell Banker Commercial West

Associate Vice President

D: 760.518.4900

D: 760.518.6552 | C: 760.518.6552

JeffKaneRE@gmail.com

kanerealestateservices@gmail.com

CalDRE #01915649

CalDRE #01968022

CBCWORLDWIDE.COM

Jeff Kane

Nick Kane

760 518 4900 JeffKaneRE@gmail.com CalDRE #01915649

760 518 6552 kanerealestateservices@gmail.com CalDRE #01968022

WEST