©2019 Apartment Consultants, Inc. 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 are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Exclusively Listed By:

TERRY MOORE, CCIM SVP, Principal www.aciapartments.com

Direct: 619.497.6424 Fax: 619.299.8536 Cell: 619.889.1031 tmoore1031@gmail.com

License #00918512

Charming Victorian - 5 Units in Hillcrest 3718-24 1st Ave., San Diego 92103

• The Hall-Sherman House is a Victorian house with 3 rental units.

• It is a designated Historical Landmark with Mills Act tax benefits in place.

• Two separate cottage units in rear.

• In the heart of Hillcrest within walking distance to shopping and restaurants.

Video Tour:

$1,499,000

www.soldbyair.com/list/Terry-Moore-CCIM-3718-1st-Street-San-Diego-CA-Branded

City State Zip Parcel Size Acres APN

3718-24 1st Ave. San Diego CA 92103 6,413 0.15 452-014-38-00Rentable

Current Potential Current Sq Ft

18.2 17.1 3.7% 3,402

Units Bed Bath Current Rent Total Potential Rent Total Advertising $0 $3,9431 2 1 $1,980 $1,980 $2,120 $2,120

1 1 1 $1,385 $1,385 $1,480 $1,480 Cleaning / Turnover $0 $0

1 1 1 $1,230 $1,230 $1,315 $1,315

2 1 1 $1,120 $2,240 $1,200 $2,400 Credit Check / Bank $0 $1,000

Gardener $1,500 $4,000

0 Garage Spaces - Income $0 $0 $0 $0 Gas & Electric $1,800 $0

yes Laundry Income $10 $10 $10 $10

no RUBS $0 $0 $0 $0 Insurance $1,500 $5,457

no Other Income $0 $0 $0 $0

Total Rental & Other Income $6,845 $6,845 $7,325 $7,325 Legal / Accounting $0 city

0 Total Parking Spaces

0 Garage 0 Open $0 $3,750

Annual Operating Proforma Total Annual Expenses $22,950

Actual Potential Est Sq Ft: $6.75

Gross Rental Income $82,020 $87,780 Unit: $4,590

Plus Other Income $120 $120 GSI: 27.94%

Gross Scheduled Income $82,140 $87,900

Less: Vacancy Factor 4% $3,286 $3,516

Gross Operating Income $78,854 $84,384 Down Payment 45% Amount $674,550

Less: Operating Expenses 27.9% $22,950 $22,950 Interest Rate 3.85%

Net Operating Income $55,905 $61,434 # of Years Amortized Over 30

Less: First TD Payments $46,381 $46,381 Proposed Financing 55% Amount $824,450

Pre-Tax Cash Flow $9,524 $15,053 Existing Financing 0

Debt Coverage Ratio Current 1.21

2/11/2020

©2019 Apartment Consultants, Inc. 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 are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

APARTMENT INVESTMENT INFORMATION

Salaries

Taxes - Mills Act

Trash Collection

Water & Sewer

Estimated Average Monthly Income Analysis Estimated Annual Operating Expenses

Mgt-Off Site

Miscellaneous

Repairs / Replacements

Painting

Mgt-On Site

$ / Sq Ft

$1,499,000 $441

# Units Address Gross Sq. Ft.Yr Built (Aprx.)

CAP Rate %5 3,4021891

GRM

Price Potential $ / Unit

Expenses per:

4.1% $299,800

The historical designation severely restricts any changes to the front building. Mills Act tax savings program is in effect.

The front Victorian home has a newer roof and fence that were installed in 2017.

There are two separate cottage units in back.

There are various upgrades throughout the asset.

Financing Information

The front Hall-Sherman House built in 1891 is a charming Victorian with three rental units. This house has Historical Landmark designation.