|
|
1946 2nd St 6 Unit Apartment Building $1,300,000 ($216,667/Unit) 6.13% Cap Rate San Fernando, CA 91340
INVESTMENT HIGHLIGHTS
- No Rent Control
- 6 Units - 1 Bedroom/1 Bathroom
- Assumable Loan
EXECUTIVE SUMMARY
Offered by the AvailableWarehouses.com Team at Spectrum Commercial Real Estate, Inc.
Located in the heart of San Fernando, 1946 2nd St presents a rare opportunity to acquire a 100% non-rent-controlled multifamily property in a historically stable rental market. The property consists of six 1-bedroom / 1-bathroom units generating $9,580 in monthly gross income, with upside potential as units naturally turn.
Ownership has held the asset long-term and maintained it with care. Investors will benefit not only from strong in-place cash flow, but also from the assumable Chase loan at a 3.575% fixed interest rate, with a current principal balance of approximately $600,000 and monthly PITI of $3,561.87. The loan is assumable through May 1, 2026, with a 1-point assumption fee.
This is an ideal opportunity for buyers seeking long-term growth and in-place financing below today’s market rates.
Call Art for more info - 818-634-3722
Located in the heart of San Fernando, 1946 2nd St presents a rare opportunity to acquire a 100% non-rent-controlled multifamily property in a historically stable rental market. The property consists of six 1-bedroom / 1-bathroom units generating $9,580 in monthly gross income, with upside potential as units naturally turn.
Ownership has held the asset long-term and maintained it with care. Investors will benefit not only from strong in-place cash flow, but also from the assumable Chase loan at a 3.575% fixed interest rate, with a current principal balance of approximately $600,000 and monthly PITI of $3,561.87. The loan is assumable through May 1, 2026, with a 1-point assumption fee.
This is an ideal opportunity for buyers seeking long-term growth and in-place financing below today’s market rates.
Call Art for more info - 818-634-3722
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$114,960
|
$26.88
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$114,960
|
$26.88
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$34,488
|
$8.07
|
| Net Operating Income |
$80,472
|
$18.82
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $114,960 |
| Annual Per SF | $26.88 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $114,960 |
| Annual Per SF | $26.88 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $34,488 |
| Annual Per SF | $8.07 |
| Net Operating Income | |
|---|---|
| Annual | $80,472 |
| Annual Per SF | $18.82 |
PROPERTY FACTS
| Price | $1,300,000 | Property Subtype | Apartment |
| Price Per Unit | $216,667 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.13% | Lot Size | 0.23 AC |
| Sale Condition | 1031 Exchange | Building Size | 4,276 SF |
| Gross Rent Multiplier | 10.83 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1955 |
| Property Type | Multifamily | Parking Ratio | 1.4/1,000 SF |
| Zoning | SFR3* | ||
| Price | $1,300,000 |
| Price Per Unit | $216,667 |
| Sale Type | Investment |
| Cap Rate | 6.13% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 10.83 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 4,276 SF |
| No. Stories | 2 |
| Year Built | 1955 |
| Parking Ratio | 1.4/1,000 SF |
| Zoning | SFR3* |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
Walk Score®
Very Walkable (71)
MAP
ADDITIONAL PHOTOS
IMG_1742
IMG_1741
Primary Photo
Building Photo