1135-1145 Broadway
1135-1145 Broadway
Description
with the lessor responsible for all utilities, maintenance, and management of the units. The SRO units are all roughly 100 square feet or 10 x 10 with some that are 10 x 8. There are a total of 5 bathrooms, 3 showers, 1 kitchen, 1 dining room, 1 laundry room, and 1 room that contains refrigerators. Access to the upper SRO units is by a secure entrance on Park Ave., with another exit on Broadway. The underwriting in this package assumes a new owner will end the master lease on the SRO units and rent them out themselves,
dramatically increasing cash flow. Current rents for SRO units in the immediate area range from $650 to over $850 and exceeds $1,000 in buildings with more amenities. The downstairs retail space is currently leased at a below market rate of only $1.12/foot on a gross basis.
- Listed by Matthew Wenzel • DRE #01198357 • Brokerage DRE #00530854 • Marcus & Millichap • 714-875-2878
Property Details for 1135-1145 Broadway
Location
Property Details for 1135-1145 Broadway
| Status | Active |
|---|---|
| MLS # | PW24062274 |
| Days on Market | 34 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Mixed Use |
| MLS Type | Residential Income |
| Year Built | 1930 |
| Lot Size | 0.12 AC / 5,150 SF |
| County | San Diego County |
Location
Building Information for 1135-1145 Broadway
Payment Calculator
$12,279 per month
30 year fixed, 7.25% Interest
$12,279
—
$0
Property Information for 1135-1145 Broadway
- Tenant Pays: Electricity, Gas
- Gross Income: $268,440
- Gross Scheduled Income: $268,440
- Vacancy Allowance: 13422
- Gross Operating Income: $255,018
- Net Operating Income: $181,619
- Operating Expense: $73,399
- New Taxes Expense: $30,346
- Fuel Expense: $0
- Electric Expense: $7,000
- Insurance Expense: $6,000
- Maintenance Expense: $8,000
- Professional Management Expense: $10,800
- Other Expense: $4,000
- Other Expense Description: Gas
- Trash Expense: $4,806
- Water Sewer Expense: $2,500
- Total Expenses: $73,399
- Tax Block: 33
- Tax Tract Number: 08
- Tax Census Tract: 52.02
- Tax Lot: 534
- Community Features: Biking, Curbs, Sidewalks, Storm Drains, Street Lights, Urban
- Laundry: Yes
- Laundry Features: Community
- Roof: Flat
- Entry Location: Street Level
- Pool Features: None
- Pool Description: None
- Lot Features: Corner Lot, Near Public Transit, Walkstreet
- Number Of Units: 27
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 0
- Parking: No
- Parking Garage: None
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Parking Features: None
- Builders Tract Name: Downtown
- Builders Tract Code: Downtown
- Unit Type Units Total: 26
- Unit Type Beds Total: 1
- Unit Type Baths Total: 0
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $16,900
- Unit Type Total Rent: $16,900
- Unit Type Pro Forma: 16900
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 0
- Unit Type Baths Total: 0
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $5,470
- Unit Type Total Rent: $5,470
- Unit Type Pro Forma: 5470
- Unit Type Type: 2
- Number Of Units Leased: 27
- Rent Controlled: No
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 2
- Number Of Separate Gas Meters: 2
- Number Of Separate Water Meters: 2
Property History for 1135-1145 Broadway
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 1135-1145 Broadway
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Sherman Elementary School PublicK to 5 | ||
Roosevelt International Middle School Public6 to 8 | ||
East Village High Public9 to 12 | ||
San Diego Business Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Marcus & Millichap, Matthew Wenzel, DRE #01198357
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