Current 4-unit building has very large backyard with ability to add 8 MORE UNITS to create a 12-unit apartment community. MASSIVE UPSIDE and seller may be open to staying on to complete the development with buyer. Amazing opportunity to own an income producing 4 unit property in a highly desirable… Read More neighborhood near SDSU! All units have been remodeled with new interior/exterior paint, new flooring, new kitchen cabinets/countertop, can lights in every room, remodeled bathrooms, laundry rooms, new windows, new electrical outlets, & new ceiling fans. The renovated units will ensure your income stream is reliable at acquisition with 1 unit already rented out and the others soon to follow as the development is under professional management. Additional Opportunity exists with recent law changes allowing for an increased FAR with the ability to add 4 additional ADUs at 500 sq. ft. each. Assuming construction cost of $720K and each new unit renting at $1900/month, this property would perform over 5% cap rate, excellent for San Diego! The Sellers are willing to assist in helping the new owners build the new ADU units and maximize their investment! Read Less
Listing Snapshot
Days Online
71
Last Updated
Property Type
Other
Lot Size
0.16 Acres
Year Built
2000
MLS Number
240024215SD
30 Days Snapshot Of 92115
$1,494k
+84%
(avg) sold price
7
-81%
homes sold
34
-48%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 2000, Levels: One, 1 story, 2 buildings
Cooling
SeeRemarks
Fence
Partial
Heating
Electric, NaturalGas
Income
Net operating income: $111,972
Lot
0.1603 acres, 6,981 square feet, Size: 6,981
Pool
None
Roof
Composition
Tenant Pays
Electricity
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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