We are pleased to offer Parkway Palms in Chula Vista near the new Gaylord Pacific Resort and Convention Center. Parkway Palms offers a desirable unit mix of spacious one, two and three bedroom units. Further, the building includes 35 parking spaces, 7 garage spaces, and 6 carports. The garages and carports offer ADU potential. Further, the property is owned by the original family that built it. It was built to last and maintained with care. Property has newer windows, roofs replaced approx 2017 years ago, several plumbing upgrades and new electrical meters planned. Finally, this property has strong occupancy and offers excellent in-place income with substantial room to increase the rents to market. Please drive by the property discreetly without disturbing the tenants or management.

Construction FrameStucco Parking CarportsGaragesSpaces Parking Spaces Total 34 Roof Other/Remarks

Cooling None Floor Coverings Other/Remarks Floors Slab Heating RadiantWall Laundry Leased Sq Ft Of Improvement 26000 Stories 2 Story Unit Furnished1 No Unit Furnished2 No Unit Furnished3 No Unit Furnished4 No Units With Dishwashers 34 Units With Disposals 34 Units With Drapes 34 Units With Ranges 34 Units With Refrigerators 34

Actual Cap Rate 4.5 Actual Gross Operating Income 668194 Actual Gross Scheduled Income 688860.0 Actual Operating Expense 265214 Actual Vacancy And Credit Loss 20665 Assumable Finance 0 Buildings 4 Complex Features Other/Remarks Existing Financing Clear Financial Information Source Other/Remarks Fiscal Year From 25 Fiscal Year To 26 Gross Equity 8950000 Gross Multiplier 13.0 Have 34 performing multifamily Leased Apartments 34 Mandatory Remarks None Known Market Area South Bay Monthly Rent Total 57405 Motive Want sale Projected Cap Rate 5.8 Projected Fl Ins Expense 30000 Projected Gardener Expense 5000 Projected Gas And Electric 13000 Projected Gross Multiplier 10.7 Projected Gross Operating Inc 784661 Projected Gross Scheduled Inc 813120 Projected Maintenance Expense 34000 Projected Manager Expense 25500 Projected Net Income 515371 Projected Operating Expense 282100 Projected Other Expense 250 Projected Property Mgmt Expense 23387 Projected Taxes Expense 104715 Projected Total Expense 265214 Projected Trash Expense 7362 Projected Vacancy And Credit Loss 28459 Projected Water And Sewer Expense 18000 Sq Ft Source Buyer to Verify Tenant Pays Electric y Tenant Pays Gas n Tenant Pays Water n Terms CashCash to New Loan Unit Number1 2 Unit Number2 1 Unit Number3 11 Unit Number4 20 Unit Rent Total1 3600 Unit Rent Total2 2750 Unit Rent Total3 24200 Unit Rent1 1800 Unit Rent2 2750 Unit Rent3 2000 Unit Rent4 1600 Unit Type Apartment

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Date	Days Ago	Event	New Price
Mar 9, 2025	10 days ago	Price Increased : $1,000,000 (12.58%)	$8,950,000
Mar 5, 2025	14 days ago	New on market	$7,950,000

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Address Not Available By Request Chula Vista, CA 91910

Property Description

Construction	Frame Stucco
Parking	Carports Garages Spaces
Parking Spaces Total	34
Roof	Other/Remarks

Cooling	None
Floor Coverings	Other/Remarks
Floors	Slab
Heating	Radiant Wall
Laundry	Leased
Sq Ft Of Improvement	26000
Stories	2 Story
Unit Furnished1	No
Unit Furnished2	No
Unit Furnished3	No
Unit Furnished4	No
Units With Dishwashers	34
Units With Disposals	34
Units With Drapes	34
Units With Ranges	34
Units With Refrigerators	34

Actual Cap Rate	4.5
Actual Gross Operating Income	668194
Actual Gross Scheduled Income	688860.0
Actual Operating Expense	265214
Actual Vacancy And Credit Loss	20665
Assumable Finance	0
Buildings	4
Complex Features	Other/Remarks
Existing Financing	Clear
Financial Information Source	Other/Remarks
Fiscal Year From	25
Fiscal Year To	26
Gross Equity	8950000
Gross Multiplier	13.0
Have	34 performing multifamily
Leased Apartments	34
Mandatory Remarks	None Known
Market Area	South Bay
Monthly Rent Total	57405
Motive Want	sale
Projected Cap Rate	5.8
Projected Fl Ins Expense	30000
Projected Gardener Expense	5000
Projected Gas And Electric	13000
Projected Gross Multiplier	10.7
Projected Gross Operating Inc	784661
Projected Gross Scheduled Inc	813120
Projected Maintenance Expense	34000
Projected Manager Expense	25500
Projected Net Income	515371
Projected Operating Expense	282100
Projected Other Expense	250
Projected Property Mgmt Expense	23387
Projected Taxes Expense	104715
Projected Total Expense	265214
Projected Trash Expense	7362
Projected Vacancy And Credit Loss	28459
Projected Water And Sewer Expense	18000
Sq Ft Source	Buyer to Verify
Tenant Pays Electric	y
Tenant Pays Gas	n
Tenant Pays Water	n
Terms	Cash Cash to New Loan
Unit Number1	2
Unit Number2	1
Unit Number3	11
Unit Number4	20
Unit Rent Total1	3600
Unit Rent Total2	2750
Unit Rent Total3	24200
Unit Rent1	1800
Unit Rent2	2750
Unit Rent3	2000
Unit Rent4	1600
Unit Type	Apartment