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3958-66 Riviera/3929-33 Gresham
Coastal South San Diego 92109

$5,900,000 /491667.0
Com-Res Income 18,520 sq. ft. built: 1977

Main Photo: Property for sale: 3958-66 Riviera/3929-33 Gresham in San Diego
Prop. Type:
Com-Res Income
MLS® Num:
180019875
Status:
Active
Year Built:
1977
ONE OWNER-1ST TIME ON MARKET! 12 HIGHLY DESIRABLE PACIFIC BEACH UNITS ACROSS FROM SAIL BAY! SITUATED ON RM-2-5 ZONED 18,520 SQUARE FOOT LOT. PROPERTY CONSISTS OF 2BR 1BA HOUSE AT 3958 RIVIERA DR & 2BR 2BA HOUSE AT 3966 RIVIERA DR, FIVE 2BR 1.5BA TOWNHOUSES, TWO 2BR 1.5BA APTS, ONE 1BR 1BA APT, A 3BR 1.5BA TOWNHOUSE AT 3929 GRESHAM & 1BR 1.5BA TOWNHOUSE AT 3931 GRESHAM. ONE 2 CAR GARAGE, ONE 1 CAR GARAGE; 22 TOTAL PARKING SPACES. MOST UNITS HAVE FIREPLACES. RENTS WELL BELOW MARKET RATES, WITH INCREASES SCHEDULED FOR OCTOBER 1ST 2018. PRELIMINARY RIVIERA MARINA CONDOMINIUM PLAN AND CCR'S WERE FILED IN 1980.
Rental Amount:
24655
Price Per Unit:
491667.0
Total Floor Area:
18,520 sq. ft.
Lot Size:
0.43 acre(s)
Lot Size Commercial:
.25 through .50 Acres
Lot Details:
100X185
County:
San Diego
Market Area:
Coastal South
Number of Buildings:
5
Number of Units:
12
Stories:
1 Story, 2 Story
Num Stories:
2
Unit Type:
Apartment, Free Standing, Townhouse
Year Built:
1977
Flood Zone:
Hazard Unknown
Geological Hazard Zone:
Hazard Unknown
Gross Multiplier:
19.7
Cash flow:
238684.0
Gross operating income:
298860
Gross scheduled income:
298860
Other income source:
LAUNDRY
Gardener expense:
1873
Gas / Electric expense:
5635
Insurance F&L expense:
8091
License expense:
79
Maintainance expense:
10207
Manager expense:
2760
Supplies expense:
526
Taxes expense:
8387
Trash expense:
3947
Operating expense:
60176
Water/Sewer expense:
14125
Other expense:
2925
Pest control expense:
1621
Total P&I pay:
0.0
Total expenses:
60176.0
Projected Gross Multiplier:
18.2
Projected gross scheduled income:
324600
Projected other income:
3000
Projected taxes expense:
70000
Gross equity:
5900000
Motive / Want:
OUTRIGHT SALE
Financial Information Source:
Accountant, Owner, Tax Return
Existing Financing:
Clear
Present Loan:
0
Short Sale:
No
Listing Type:
Exclusive Right (R)
Complex Features:
N/K
Exterior Finish:
Auto Front Sprinklers, Cable Available, Part Fenced, Wood Fence
Special:
Assessments/Liens, City Transfer Tax, Local Transfer Tax
Parking:
Garages, Spaces
Total Parking Spaces:
22
Cooling:
N/K
Heating:
Radiant, Wall/Gravity
Laundry:
Leased
Construction Material:
Drywall, Stucco, Other/Remarks
Roof:
Composition, Rock/Gravel, Shake, Tar & Gravel, Wood
Floor finish:
Tile, Vinyl, Wall to Wall Carpet, Other/Remarks
Terms:
Cash, Cash to New Loan
Number of Units with Dishwashers:
10
Number of Units with Disposals:
10
Number of Units with Drapes:
12
Number of Units with Garages:
2
Number of Units with Range/Oven:
12
Number of Units with Refrigerators:
12
Number of Leased Appartments:
12
Zoning:
RM-2-5
Parcel Number:
423-382-27-00
Number of Units in Unit 1:
1
Unit 1 Furnished:
N
Total Rent for Unit 1:
1730.0
Bedrooms for Unit 1:
2
Bathroom 1:
1
Number of Units in Unit 2:
1
Unit 2 Furnished:
N
Total Rent for Unit 2:
2250.0
Bedrooms for Unit 2:
2
Bathroom 2:
2
Number of Units in Unit 3:
7
Unit 3 Furnished:
N
Total Rent for Unit 3:
14120.0
Bedrooms for Unit 3:
2
Bathroom 3:
1.5
Number of Units in Unit 4:
1
Unit 4 Furnished:
N
Total Rent for Unit 4:
1795.0
Bedrooms for Unit 4:
1
Bathroom 4:
1
Number of Units in Unit 5:
1
Unit 5 Furnished:
N
Total Rent for Unit 5:
3000.0
Bedrooms for Unit 5:
3
Bathroom 5:
1.5
Number of Units in Unit 6:
1
Unit 6 Furnished:
N
Total Rent for Unit 6:
1760.0
Bedrooms for Unit 6:
1
Bathroom 6:
1.5
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Larger map options:
Listing information last updated on August 6, 2018 at 07:48 PM (UTC)
Area Statistics
Listings on market:
12
Avg list price:
$4,474,000
Min list price:
$1,435,500
Max list price:
$17,200,000
Avg days on market:
99
Min days on market:
17
Max days on market:
443
Avg price per sq.ft.:
$537.59
These statistics are generated based on the current listing's property type and located in Coastal South. Average values are derived using median calculations.
Patrick J. Park, MBA