14103 Old El Camino Real, Carmel Valley, CA 92130

$7,850,000
List Price
$7,850,000
Status
ACTIVE
MLS#
210001018
Days on Market
40
Property Type
Commercial
Property Sub Type
Commercial/Residential

Property Description

Derby Terrace is a 24 unit affordable apartment home development in the highly desirable Carmel Valley community of San Diego. The property was built in 2002 by Pardee Homes. The units are rented in accordance with the Master Affordable Housing Agreement and the CC&R's, governed by the Housing Authority of the City of San Diego. The program is 65% of the HUD median area income. Tenant income and rent restriction shall remain in effect for 55 years from the date of initial occupancy (October 2001). The property is exempt from the rent cap and just cause provisions, sections 1947.12 & 1946.2 of the Civil Code. The apartments are 918 square feet, and 1,030 square feet with the generous private patios and balconies. The first floor apartments enjoy 9' ceilings, and all apartments have central a/c and heat. There are full size washer and dryer hook ups located in the balcony or patio closet. All apartments have frost free refrigerators, gas ranges and ovens, dishwashers, ceiling fans in the dining room area, vertical window coverings, and cable television outlets in the living rooms and bedrooms. There are 26 covered parking carports, and 23 open, unassigned parking spaces. There is a small play area/tot lot. The land area consists of two parcels, the buildings and parking are situated on 304-643-09, is 1.37 acres; parcel 304-643-08 is 2.29 acres open space easement. Cooling: Central Forced Air Elec

Additional Information

Heat
Forced Air
Exterior Construction
Frame, Stucco
Roof
Tile
Number Of Units Total
24
Gross Scheduled Income
$441,324
Operating Expense
137455

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of David Shattles from Real Estate Services, Inc.

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.