The Thomas Avenue Apartment Homes is a well-maintained 8-unit community in the highly sought-after Pacific Beach rental market. Situated on a 6,237-square-foot lot, the property features seven spacious 1-bedroom/1-bath units and one 2-bedroom/1-bath unit. Residents enjoy a peaceful, well-kept courtyard, five on-site parking spaces, and a convenient on-site laundry facility with leased equipment. Upstairs units boast charming exposed beam ceilings, while the entire property benefits from newer dual-pane vinyl windows and a pitched roof. With its prime location just minutes from the beach, vibrant dining, shopping, and outdoor recreation, The Thomas Avenue 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. Pacific Beach remains one of San Diegoâ€™s most resilient and desirable rental markets, consistently commanding top market rents and demonstrating strong equity growth in all economic cycles. Whether for long-term hold or repositioning, this property presents an exceptional investment opportunity in a high-demand neighborhood

Parking Spaces Total 5

Sq Ft Of Improvement 5194

Actual Cap Rate 2.27 Actual Fl Ins Expense 5600 Actual Gardener Expense 1800 Actual Gas And Electric 2400 Actual Gross Operating Income 151665 Actual Gross Scheduled Income 154500.0 Actual Maintenance Expense 8000 Actual Operating Expense 77318 Actual Other Expense 1000 Actual Prop Management 7586 Actual Taxes Expense 40375 Actual Total Expense 77318 Actual Trash Expense 4800 Actual Vacancy And Credit Loss 4635 Actual Water Sewer Expense 5760 Assumable Finance 0 Buildings 1 Complex Features Other/Remarks Gross Equity 3280000 Gross Multiplier 21.23 Have Real Estate Mandatory Remarks None Known Market Area Coastal South Motive Want Sell Other Income Actual 1800 Present Loan 0 Projected Cap Rate 5.01 Projected Fl Ins Expense 5600 Projected Gardener Expense 1800 Projected Gas And Electric 2400 Projected Gross Multiplier 13.33 Projected Gross Operating Inc 246420 Projected Gross Scheduled Inc 246000 Projected Maintenance Expense 8000 Projected Net Income 164364 Projected Operating Expense 82056 Projected Other Expense 1000 Projected Other Income 7800 Projected Property Mgmt Expense 12321 Projected Taxes Expense 40375 Projected Total Expense 82056 Projected Trash Expense 4800 Projected Vacancy And Credit Loss 7380 Projected Water And Sewer Expense 5760 Unit Number1 7 Unit Number2 1 Unit Rent Total1 11100 Unit Rent Total2 1775 Unit Rent1 1586 Unit Rent2 1775

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2162 Thomas

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2162 Thomas San Diego, CA 92109

Property Description

Actual Cap Rate	2.27
Actual Fl Ins Expense	5600
Actual Gardener Expense	1800
Actual Gas And Electric	2400
Actual Gross Operating Income	151665
Actual Gross Scheduled Income	154500.0
Actual Maintenance Expense	8000
Actual Operating Expense	77318
Actual Other Expense	1000
Actual Prop Management	7586
Actual Taxes Expense	40375
Actual Total Expense	77318
Actual Trash Expense	4800
Actual Vacancy And Credit Loss	4635
Actual Water Sewer Expense	5760
Assumable Finance	0
Buildings	1
Complex Features	Other/Remarks
Gross Equity	3280000
Gross Multiplier	21.23
Have	Real Estate
Mandatory Remarks	None Known
Market Area	Coastal South
Motive Want	Sell
Other Income Actual	1800
Present Loan	0
Projected Cap Rate	5.01
Projected Fl Ins Expense	5600
Projected Gardener Expense	1800
Projected Gas And Electric	2400
Projected Gross Multiplier	13.33
Projected Gross Operating Inc	246420
Projected Gross Scheduled Inc	246000
Projected Maintenance Expense	8000
Projected Net Income	164364
Projected Operating Expense	82056
Projected Other Expense	1000
Projected Other Income	7800
Projected Property Mgmt Expense	12321
Projected Taxes Expense	40375
Projected Total Expense	82056
Projected Trash Expense	4800
Projected Vacancy And Credit Loss	7380
Projected Water And Sewer Expense	5760
Unit Number1	7
Unit Number2	1
Unit Rent Total1	11100
Unit Rent Total2	1775
Unit Rent1	1586
Unit Rent2	1775