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3-UNIT INVESTMENT PROPERTY
SHERMAN HE IGHTS
MULTI-UNIT INVESTMENT SPECIALIST
PRESENTED BY GLEN HENDERSONBROKER ASSOCIATE
2005-2017 J STREET | SAN DIEGO, CA 92102
www.2005JStreet.com
INCREDIBLE OPPORTUNITY
PROPERTY FEATURES
WELCOME TO 2005-2017 J STREET
We are pleased to present 2005 - 2017 J Street, a fully rehabilitated three-unit
property, just blocks from Downtown San Diego. Located in the historic Sherman
Heights district, this property consists of two one-bedroom, one-bathroom units
and one two-bedroom, one-bathroom unit. All three units were recently restored,
which includes new electrical, plumbing, sewer lines, most windows, kitchens,
baths, insulation, water heaters, roofs, interior and exterior paint, landscaping,
decking, laundry, appliances, and more.
This is an excellent opportunity for an investor or owner-occupant to acquire
an income producing asset in the rapidly improving and in demand area of
Sherman Heights. This very desirable downtown sub-market is located within
an Opportunity Zone and is just blocks from the rapidly gentrifying East Village
and Barrio Logan. East Village has become one of the most dynamic and popular
areas of the downtown area, as East Village/Downtown continues to expand,
this particular property will offer a substantial rental upside and is well suited for
short-term vacation rentals/AirBNB.
• Prime location in Sherman Heights
• Downtown San Diego views
• Extremely high-demand beach rental market = little to no vacancy
• Residential 30-year financing available
• Full rehabilitation to all 3 units
• Desirable mix of units
• Flexibility of investment options: long-term leases, short-term/vacation rentals/AirBNB
• Easy downtown and freeway access
• Each unit has their own fenced yard, A/C, and laundry
• Located within an Opportunity Zone
GET TO KNOW SHERMAN HEIGHTS
Sherman Heights is a unique neighborhood bordering three other highly desirable
neighborhoods (Golden Hill, Barrio Logan and East Village Down Town). Those
who live in the area enjoy the central location, as it is just east of the Ballpark
District and Downtown San Diego. The property is also close to transit lines,
restaurants, schools, and shopping. The Sherman Heights community is also a
designated “Opportunity Zone,” offering potential tax breaks for investing within
the community.
This property is situated among many single-family homes, including historic
Victorian homes that add to the unique charm of the neighborhood. In addition,
there is strong support for historic preservation and restoration as the neighborhood
was declared a historic district in 1987.
The Sherman Heights neighborhood has the following roadways as boundaries:
Highway 94 to the north, Imperial Avenue to the south, and Interstate 5 to the west.
Sherman Heights is considered one of the oldest subdivisions in San Diego and is
named after Mathew Sherman, who purchased the land in 1867 just after Alonzo
Horton purchased much of the area that is now Downtown San Diego. Sherman
Heights is known for the beautiful Victorian homes and is home to the historic
building named the Villa Montezuma (located one block from the property), which
was built in 1887 by world traveler, noted spiritualist and pianist, Jesse Shepard.
NEIGHBORHOOD FEATURES
• Conveniently located by the I-5 and SR-94
• Located within walking distance to East Village, Petco Park, San Diego Public Library, and several dining and entertainment options
• Close proximity and easy access to Downtown, Balboa Park, Golden Hill, South Park, and North Park via surface streets
• Close proximity to public transit
DESIRABLE NEIGHBORHOOD
To view a 3D tour of this unit
Visit: https://my.matterport.com/show/?m=2JkLaSjmcp3
UNIT 2005
2 Beds | 1 Bath | 710 Sq Ft | Fenced Yard | Laundry Room | Air-Conditioning
To view a 3D tour of this unit
Visit: https://my.matterport.com/show/?m=C3YrGBKQ886
1 Beds | 1 Bath | 572 Sq Ft | Fenced Yard | Laundry Room | Air Conditioning
UNIT 2015
To view a 3D tour of this unit
Visit: https://my.matterport.com/show/?m=66ASSyYjCWJ
1 Beds | 1 Bath | 572 Sq Ft | Fenced Yard | Laundry Room | Air-Conditioning
UNIT 2017
OPPORTUNITY ZONE PROPERTY
The Tax Cuts and Jobs Act of 2017 established Opportunity Zones as a mechanism
to provide tax incentives for investment in designated census tracts. Investments
made by individuals through special funds in these zones would be allowed to
defer or eliminate a portion of federal taxes on capital gains, based on the length
of ownership. (View the IRS FAQ & CA FAQ for additional info.)
2005-17 J Street is located within an Opportunity Zone.
As part of the federal tax reform bill, states had the opportunity to identify
“Opportunity Zones” for local economic development. The program allows
investors to utilize the incentives, which include capital gains tax breaks by
investing within a designated Opportunity Zone. The Opportunity Zone Map can
be viewed HERE.
AMAZING INVESTMENT OPPORTUNITY
FINANCIAL ANALYSIS / CURRENT AND PROJECTED INCOME
2005 J Street
2015 J Street
2017 J Street
Vacant
April 2020
Month-to-Month
2/1
1/1
1/1
710
572
572
$1,995
$1,795
$1,695
$5,485
$2,495
$1,995
$1,995
$6,485
Lease Type
TOTAL
Unit Beds/Baths Size (Sq Ft) Current Rent/Month Projected Rent/Month
Figures based on a sales price of $1,200,000. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for
example purposes only and do not represent current or future performance of the property. © 2019 Glen Henderson / Premier Homes Team . All rights reserved.
ANNUALIZED EXPENSES
Property Taxes
Insurance
Electric
Water/Sewer
Gardener
Building Maintenance
TOTAL EXPENSES
ANNUALIZED INCOME
Gross Potential Rent
Less Vacancy - 3%
Effective Gross Income
Less Expenses
NET OPERATING INCOME
$1,250
$98
$205
$80
$42
$1,675
$6,485
($195)
$6,290
($1,675)
$4,616
$598
$98
$205
$80
$42
$1,023
$5,485
($165)
$5,320
($1,023)
$4,297
$7,179
$1,177
$2,460
$960
$500
$12,276
$65,820
($1,975)
$63,845
($12,276)
$51,569
$15,000
$1,177
$2,460
$960
$500
$20,097
$77,820
($2,335)
$75,485
($20,097)
$55,388
Monthly Annual AnnualACTUAL PROJECTED MARKET
Monthly
PROPERTY SUMMARY
Price
# of Units
Price Per Unit
Cap Rate
Market Cap Rate
GRM
Market GRM
APN
Lot Size
Rentable Sq Ft
$1,200,000
3
$400,000
4.30%
4.62%
18.23
15.42
535-434-01-00
4,265
1,854
Visit www.2005JStreet.com or contact Glen at 619.889.7646
GLEN HENDERSONBroker Associate | REALTOR®
Premier Homes Team A division of Big Block Realty, IncDRE# 01384181
Premier Homes Team | DRE# 01384181 & 01885775 | 2820 Camino Del Rio South, Suite 314 | San Diego, CA 92108
[email protected] | www.MyPremierHomes.com
CONNECT WITH ME
This brochure is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. E&OE covered.Published by REAL Marketing (REM) | www.REALMarketing4You.com | 858.952.4280 | ©2019
