The Hornblend Apartment Homes, an 8 unit rental community centrally located in Pacific Beach, CA. Situated on a 6,240-square-foot lot, the property features four spacious 1-bedroom/1-bath units, two 2-bedroom/1-bath units, and one 2-bedroom/2-bath unit. Residents enjoy a peaceful, well-kept courtyard, four on-site tandem parking spaces, four single car garages, and a convenient on-site laundry facility with leased equipment. Four of the units have been extensively remodeled and are rented at top market rents while the other four units have long terms tenant and can benefit for remodeling and renting at higher market rents. Additionally, the four single car garages in the rear have ADU potential to further increase rental income. With its prime location just minutes from the beach, vibrant dining, shopping, and outdoor recreation, The Hornblend Apartment Homes offer an attractive lifestyle for tenants seeking a balance of coastal living and urban convenience. The property has been well maintained over the years, yet a strategic value-add opportunity exists to modernize the interiors and further enhance rental income.

Parking Spaces Total 12

Sq Ft Of Improvement 5534

Actual Cap Rate 3.59 Actual Fl Ins Expense 5203 Actual Gardener Expense 2640 Actual Gas And Electric 2095 Actual Gross Scheduled Income 225960.0 Actual Maintenance Expense 8000 Actual Operating Expense 85995 Actual Other Expense 1000 Actual Pest Control Expense 700 Actual Prop Management 11478 Actual Taxes Expense 49119 Actual Total Expense 85995 Actual Vacancy And Credit Loss 6779 Actual Water Sewer Expense 5760 Assumable Finance 0 Buildings 1 Complex Features Other/Remarks Gross Equity 3995000 Gross Multiplier 17.68 Have Real Estate Mandatory Remarks None Known Market Area Coastal South Monthly Rent Total 18830 Motive Want Sell Other Income Actual 10380 Projected Cap Rate 6.2 Projected Fl Ins Expense 5203 Projected Gardener Expense 2640 Projected Gas And Electric 2095 Projected Gross Multiplier 11.71 Projected Gross Scheduled Inc 341220 Projected Maintenance Expense 8000 Projected Manager Expense 17038 Projected Net Income 247768 Projected Operating Expense 92995 Projected Other Expense 1000 Projected Other Income 9780 Projected Pest Expense 700 Projected Taxes Expense 49119 Projected Total Expense 92995 Projected Vacancy And Credit Loss 10237 Projected Water And Sewer Expense 7200 Unit Number1 5 Unit Number2 2 Unit Number3 1 Unit Rent Total1 9977 Unit Rent Total2 5653 Unit Rent Total3 3200 Unit Rent1 1995 Unit Rent2 2827 Unit Rent3 3200

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1532 Hornblend Street

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1532 Hornblend Street San Diego, CA 92109

Property Description

Actual Cap Rate	3.59
Actual Fl Ins Expense	5203
Actual Gardener Expense	2640
Actual Gas And Electric	2095
Actual Gross Scheduled Income	225960.0
Actual Maintenance Expense	8000
Actual Operating Expense	85995
Actual Other Expense	1000
Actual Pest Control Expense	700
Actual Prop Management	11478
Actual Taxes Expense	49119
Actual Total Expense	85995
Actual Vacancy And Credit Loss	6779
Actual Water Sewer Expense	5760
Assumable Finance	0
Buildings	1
Complex Features	Other/Remarks
Gross Equity	3995000
Gross Multiplier	17.68
Have	Real Estate
Mandatory Remarks	None Known
Market Area	Coastal South
Monthly Rent Total	18830
Motive Want	Sell
Other Income Actual	10380
Projected Cap Rate	6.2
Projected Fl Ins Expense	5203
Projected Gardener Expense	2640
Projected Gas And Electric	2095
Projected Gross Multiplier	11.71
Projected Gross Scheduled Inc	341220
Projected Maintenance Expense	8000
Projected Manager Expense	17038
Projected Net Income	247768
Projected Operating Expense	92995
Projected Other Expense	1000
Projected Other Income	9780
Projected Pest Expense	700
Projected Taxes Expense	49119
Projected Total Expense	92995
Projected Vacancy And Credit Loss	10237
Projected Water And Sewer Expense	7200
Unit Number1	5
Unit Number2	2
Unit Number3	1
Unit Rent Total1	9977
Unit Rent Total2	5653
Unit Rent Total3	3200
Unit Rent1	1995
Unit Rent2	2827
Unit Rent3	3200