La Jolla West Wind | 7601 Eads Ave
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La Jolla West Wind 7601 Eads Ave
12 Unit Apartment Building $14,432,000 CAD ($1,202,667 CAD/Unit) 3.58% Cap Rate La Jolla, CA 92037
INVESTMENT HIGHLIGHTS
- 12 Large 2BR/2Bath Units Averaging ~ 1,025 SF
- Turn-Key Meticulously Maintained by Long Term Ownership
- In unit Laundry, walk in closets, fireplaces
- 20% Below Market Rents
- Located in the heart of the Village in La Jolla
- Current Ownership not charging for RUBS, Parking or Storage Lockers
EXECUTIVE SUMMARY
Rare opportunity to own 12 units in the heart of the Village in La Jolla. Impeccably maintained by long term ownership with professional management. Little to no deferred maintenance! Rents approximately 20% below market. Stabilized Cap Rate greater than 5.15%. Plenty of off street gated parking as well as surface spots. Available Storage lockers. Units included in unit laundry, fireplaces, balconies, walk in closets. Nearby 2BR units renting for over $5,000. Immediate upside by collecting on RUBS, parking, storage.
Walking distance to all that Downtown La Jolla offers. 98/100 Walk score! This is sure to be an extremely stable investment as La Jolla is consistently one of the most desirable rental markets for young professionals.
Walking distance to all that Downtown La Jolla offers. 98/100 Walk score! This is sure to be an extremely stable investment as La Jolla is consistently one of the most desirable rental markets for young professionals.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,039,104
|
$52.98
|
| Other Income |
$25,978
|
$1.32
|
| Vacancy Loss |
$20,782
|
$1.06
|
| Effective Gross Income |
$1,044,300
|
$53.25
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$301,313
|
$15.36
|
| Net Operating Income |
$742,987
|
$37.88
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,039,104 |
| Annual Per SF | $52.98 |
| Other Income (CAD) | |
|---|---|
| Annual | $25,978 |
| Annual Per SF | $1.32 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $20,782 |
| Annual Per SF | $1.06 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,044,300 |
| Annual Per SF | $53.25 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $301,313 |
| Annual Per SF | $15.36 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $742,987 |
| Annual Per SF | $37.88 |
PROPERTY FACTS
| Price | $14,432,000 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $1,202,667 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 3.58% | Building Size | 19,612 SF |
| Gross Rent Multiplier | 17.89 | No. Stories | 2 |
| No. Units | 12 | Year Built/Renovated | 1970/2015 |
| Property Type | Multifamily | Parking Ratio | 1.02/1,000 SF |
| Property Subtype | Apartment |
| Price | $14,432,000 CAD |
| Price Per Unit | $1,202,667 CAD |
| Sale Type | Investment |
| Cap Rate | 3.58% |
| Gross Rent Multiplier | 17.89 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 19,612 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2015 |
| Parking Ratio | 1.02/1,000 SF |
UNIT AMENITIES
- Balcony
- Fireplace
- Washer/Dryer
- Ceiling Fans
- Walk-In Closets
SITE AMENITIES
- 24 Hour Access
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 12 | $5,625 CAD | 1,025 |
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Walk Score®
Walker's Paradise (98)
PROPERTY TAXES
| Parcel Number | 350-461-07 | Improvements Assessment | $1,725,880 CAD |
| Land Assessment | $2,655,217 CAD | Total Assessment | $4,381,096 CAD |
PROPERTY TAXES
Parcel Number
350-461-07
Land Assessment
$2,655,217 CAD
Improvements Assessment
$1,725,880 CAD
Total Assessment
$4,381,096 CAD
ZONING
| Zoning Code | R3 |
| R3 |
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La Jolla West Wind | 7601 Eads Ave
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