3rd,1822,92101

1822 3rd Ave,San Diego , CA 92101

●
7 Units in Bankers Hill
●
Very Clean Units
●
One Parking Space for Every
Tenant
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Low Operating Cost
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Sale Subject to Seller Finding
an Exchange Property

Brian Nelson, Broker 3405 Kenyon St #411

01409860 San Diego, CA 92110

www.scc1031.com
619-226-6011 x 102
858-779-1000 (p)
nelson@scc1031.com
866-861-7803 (f)
 Real Estate Investment Details

ANALYSIS

Analysis Date: April 2010

PROPERTY

Property: 3rd,1822,92101
Property Address: 1822 3rd Ave
San Diego , CA 92101

PURCHASE INFORMATION FINANCIAL INFORMATION

Property Type: Multi-Family Down Payment: $395,600

Purchase Price: $920,000 Passive Loss Rules: No
Fair Market Value: $920,000 Closing Costs: $0
Units: 7 Discount Rate: 8.00%
Total Rentable Sq. Ft.: 0
Resale Valuation 0% (annual appreciation)
Resale Expenses: 6.0%

LOANS

Debt Term Rate Payment LO Costs

Fixed $524,400 30 yrs 6.0% $3,144

INCOME & EXPENSES CONTACT INFORMATION

Gross Operating Income: $73,575 Brian Nelson, Broker

Monthly GOI: $6,131 01409860
Total Annual Expenses: ($24,655) 619-226-6011 x 102
Monthly Expenses: ($2,055) nelson@scc1031.com

DISCLAIMER: All information is believed to be accurate.

The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projections
and analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or
other professional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting,
tax or other professional area before making any decisions.

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3rd,1822,92101 Property Description
1822 3rd Ave Brian Nelson, Broker
San Diego , CA 92101 619-226-6011 x 102

Parkside Plaza

Parkside Plaze is located in a great area of

Bankers Hill. The two story complex consists of
6 one bedroom units, and 1 one bedroom 1 bath
unit with a private patio. The complex offers its
residence a pristine patio providing views of
Downtown San Diego, a coin operated laundry
facility, and 1 on-site parking space per unit.
The current owner has up graded every unit with
pergo hard wood flooring, formica kitchen
counter tops, and clean appliances. The close
proximity to Downtown....

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3rd,1822,92101 Property Photos
1822 3rd Ave Brian Nelson, Broker
San Diego , CA 92101 619-226-6011 x 102

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3rd,1822,92101 Executive Summary
1822 3rd Ave Brian Nelson, Broker
San Diego , CA 92101 619-226-6011 x 102

ACQUISITION COSTS

Purchase Price, Points and Closing Costs $920,000

Investment - Cash $395,600
First Loan $524,400

INVESTMENT INFORMATION

Purchase Price $920,000

Price per Unit $131,429
Price per Sq. Ft. NA
Income per Unit $11,057
Expenses per Unit ($3,522)

INCOME, EXPENSES & CASH FLOW

Gross Scheduled Income $77,400

Total Vacancy and Credits ($3,825)
Operating Expenses ($24,655)
Net Operating Income $48,920
Debt Service ($37,729)
Cash Flow Before Taxes $11,191

Total Interest (Debt Service) ($31,289)

Depreciation and Amortization ($32,053)

FINANCIAL INDICATORS

Cash on Cash Return Before Taxes 2.83%

Optimal Internal Rate of Return (yr 20) 3.14%
Debt Coverage Ratio 1.30
Capitalization Rate 5.32%
Gross Rent Multiplier 11.89
Gross Income / Square Feet $0.00
Gross Expenses / Square Feet $0.00
Operating Expense Ratio 33.51%

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3rd,1822,92101 Pro Forma Summary
1822 3rd Ave Brian Nelson, Broker
San Diego , CA 92101 619-226-6011 x 102

UNIT MIX & ANNUAL SCHEDULED INCOME

Type Units Actual Total Market Total
1 Bed 1 Bath 1 $10,800 $10,800 $11,400 $11,400
1 Bed 1 Bath 1 $10,800 $10,800 $11,400 $11,400
1 Bed 1 Bath plus patio 1 $11,400 $11,400 $12,000 $12,000
1 Bed 1 Bath 1 $11,100 $11,100 $11,400 $11,400
1 Bed 1 Bath 1 $10,800 $10,800 $11,400 $11,400
1 Bed 1 Bath 1 $10,800 $10,800 $11,400 $11,400
1 Bed 1 Bath 1 $10,800 $10,800 $11,400 $11,400
TOTALS 7 $76,500 $80,400
INVESTMENT SUMMARY
Price: $920,000
Units: 7 ANNUALIZED INCOME
Price/Unit: $131,429 Actual Market
RSF: 1 Gross Potential Rent $76,500 $80,400
Price/RSF: $920,000.00 Less: Vacancy ($3,825) $0
Misc. Income $900 $1,500
Cap Rate: 5.32%
Effective Gross Income $73,575 $81,900
Pro Forma Cap Rate: 6.22% Less: Expenses ($24,655) ($24,655)
GRM: 11.9 Net Operating Income $48,920 $57,245
Pro Forma GRM: 11.2 Debt Service ($37,729) ($37,729)
Net Cash Flow after Debt Service $11,191 $19,516
Principal Reduction $6,440 $6,440
Total Return $17,631 $25,956

FINANCING SUMMARY
Loan Amount: $524,400 ANNUALIZED EXPENSES
Down Payment: $395,600
Description Actual Market
Loan Type: Fixed
Lisence & Fee's $146 $146
Interest Rate: 6.00000% Advertising $450 $450
Term: 30 years Building Insurance $2,806 $2,806
Supplies $1,483 $1,483
Monthly Payment: $3,144.04
Maintenance $625 $625
Gardening $891 $891
Misc $1,500 $1,500
Repairs $1,980 $1,980
Taxes - Real Estate $10,396 $10,396
Utilities $4,378 $4,378

Total Expenses $24,655 $24,655

Expenses Per RSF $24,655.00 $24,655.00
Expenses Per Unit $3,522 $3,522

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3rd,1822,92101 Unit Mix Report
1822 3rd Ave Brian Nelson, Broker
San Diego , CA 92101 619-226-6011 x 102

UNIT MIXES

# Units Type Approx. SqFt Avg. Rents Monthly Mkt Rents Monthly
1 1 Bed 1 Bath 543 $900 $900 $950 $950
1 1 Bed 1 Bath 543 $900 $900 $950 $950
1 1 Bed 1 Bath plus 543 $950 $950 $1,000 $1,000
1 1 Bed 1 Bath 543 $925 $925 $950 $950
1 1 Bed 1 Bath 543 $900 $900 $950 $950
1 1 Bed 1 Bath 543 $900 $900 $950 $950
1 1 Bed 1 Bath 543 $900 $900 $950 $950
7 3,801 $6,375 $6,700

UNIT MIX UNIT MIX SQUARE FEET

● 1 Bed 1 Bath ● 1 Bed 1 Bath

● 1 Bed 1 Bath ● 1 Bed 1 Bath
● 1 Bed 1 Bath plus patio ● 1 Bed 1 Bath plus patio
● 1 Bed 1 Bath ● 1 Bed 1 Bath
● 1 Bed 1 Bath ● 1 Bed 1 Bath
● 1 Bed 1 Bath ● 1 Bed 1 Bath
● 1 Bed 1 Bath ● 1 Bed 1 Bath

UNIT MIX INCOME UNIT MIX MARKET INCOME

● 1 Bed 1 Bath ● 1 Bed 1 Bath

● 1 Bed 1 Bath ● 1 Bed 1 Bath
● 1 Bed 1 Bath plus patio ● 1 Bed 1 Bath plus patio
● 1 Bed 1 Bath ● 1 Bed 1 Bath
● 1 Bed 1 Bath ● 1 Bed 1 Bath
● 1 Bed 1 Bath ● 1 Bed 1 Bath
● 1 Bed 1 Bath ● 1 Bed 1 Bath

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