4 Comments

1. 

   avgjoe on January 12, 2015 at 5:19 am

   Looks like a screaming buy. I lived in lakeside 30 years ago. nice town. i use to get slurpees at the 7-11 right off highway 8. I think there is a burger king next door now. The exit east of los coaches to the old highway 8.

   I have to imagine you are looking at 1000/ month out of each unit. So 4000 / month in rental income – loan payment – maintenance. Looks like some great cash flow to me.

   the brick walls are probably less maintenance too. no termites to worry about. roof should last 35 years @ least. Those kitchens are so basic you could probably put new cabinets , countertop and sink in for < 2500. Bathroom vanities 100 bucks at home depot. New carpet throughout for 1000 bucks.

2. 

   shadash on January 12, 2015 at 10:06 am

   avgjoe,

   Your numbers are exactly the same as mine. Also I agree this looks like a great buy. If it was closer to north county I’d be on it.

3. 

   mannixpanix on January 12, 2015 at 10:55 am

   Would love to see actual rent figures as my guess is quite a bit lower based upon what I get in North Park. I’m thinking $700 to 800 per unit?

4. 

   Jim the Realtor on January 12, 2015 at 11:02 am

   $820 per unit currently, with one long-timer still at $700.