This rare six-unit multifamily investment opportunity in Middletown, one of San Diego’s most desirable rental markets, offers exceptional potential. Located on a spacious RM-3-7 zoned lot, the property provides numerous value-add possibilities, redevelopment flexibility, and strong rental demand. With the potential to convert studios into one-bedroom units, investors can increase… Read More both rents and property value. Projected rent growth of 8% this spring adds to the investment’s appeal. Additionally, the property comes with an assumable 3.26% fixed-rate mortgage with Chase through 2026. Its large lot and RM-3-7 zoning allow for increased density and redevelopment opportunities. Situated within walking distance of dining, retail, and entertainment, and with proximity to major employment hubs and easy freeway and transit access, the location is prime. Offering strong cash flow potential, this investment is ideal for long-term holds or redevelopment strategies. Read Less
Listing Snapshot
Days Online
80
Last Updated
Property Type
Mixed Use
MLS Number
250018364SD
30 Days Snapshot Of 92103
$1,521k
+17%
(avg) sold price
26
-31%
homes sold
63
-26%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
2 buildings
Expenses
Maintenance expense: $2,100, Operating expense: $46,678, Supplies expense: $720, Trash expense: $720, Water sewer expense: $2,160, Other expense: $4,800
Income
Net operating income: $67,650
Property
Zoning: RM-3-7
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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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