Multifamily
Landis Canyon Apartments
3553 Landis St, San Diego, CA 92104
Listing Price: $2,080,000
Investment Overview
The Landis Canyon apartments provides a unique opportunity to own a 4 Unit Apartment Complex with Stabilized Market Rents in Four 3BR Units. The Seller has Architectural Plans to Build 2 Additional Units. Located in the highly desirable 92104 Zip Code on a .21 Acre Flat Lot the property consists of Four Large 3BR/2Bath units with an average of 915 SF each and built in 1987. Architectural Plans are available to build 2 additional units consisting of a 2BR/2Bath & a 3BR/3Bath. The addition of these 2 units should bring in close to $7,000/month on top of the current income which is $11,400/month.
The Property is Centrally Located in between the 805 & 15 Freeways. Tenants will enjoy the convenience of being just a short walk to several Vibrant Neighborhoods including North Park, South Park & Normal Heights. The 3BR units are perfect for Families given the convenient location to several Elementary, Middle & High Schools as well as Several Grocery & Convenience Stores. Young Professionals will enjoy the convenience of being within a short walk, bike ride or Uber/Lyft to several Restaurants & Bars.
Landis Canyon Apartments
Investment Highlights
- Prime 92104 North Park Zip Code
- Amazing Unit Mix of Four 3BR/2Bath Units built in 1987
- Plenty of Off Street Parking as well as On Site Laundry & Some Units with Large Decks
- Sprawling .21 Acre Lot
- Plans in Process to Add 2 Accessory Dwelling Units (ADU's)
- Once ADU's are completed the Property will generate over $200,000/Yr in Gross Rents
- Current Income produces one of the Highest Returns Available for a 2-4 Unit Investment
- Will Qualify for 30 Yr Fixed Financing with as much as 75% Leveraged Financing
Exclusively Listed By
Listing Price: $2,080,000
Investment Highlights
- Prime 92104 North Park Zip Code
- Amazing Unit Mix of Four 3BR/2Bath Units built in 1987
- Plenty of Off Street Parking as well as On Site Laundry & Some Units with Large Decks
- Sprawling .21 Acre Lot
- Plans in Process to Add 2 Accessory Dwelling Units (ADU's)
- Once ADU's are completed the Property will generate over $200,000/Yr in Gross Rents
- Current Income produces one of the Highest Returns Available for a 2-4 Unit Investment
- Will Qualify for 30 Yr Fixed Financing with as much as 75% Leveraged Financing
Investment Overview
The Landis Canyon apartments provides a unique opportunity to own a 4 Unit Apartment Complex with Stabilized Market Rents in Four 3BR Units. The Seller has Architectural Plans to Build 2 Additional Units. Located in the highly desirable 92104 Zip Code on a .21 Acre Flat Lot the property consists of Four Large 3BR/2Bath units with an average of 915 SF each and built in 1987. Architectural Plans are available to build 2 additional units consisting of a 2BR/2Bath & a 3BR/3Bath. The addition of these 2 units should bring in close to $7,000/month on top of the current income which is $11,400/month. The Property is Centrally Located in between the 805 & 15 Freeways. Tenants will enjoy the convenience of being just a short walk to several Vibrant Neighborhoods including North Park, South Park & Normal Heights. The 3BR units are perfect for Families given the convenient location to several Elementary, Middle & High Schools as well as Several Grocery & Convenience Stores. Young Professionals will enjoy the convenience of being within a short walk, bike ride or Uber/Lyft to several Restaurants & Bars.
Exclusively Listed By
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