We're please to present 853 S 32nd St, consisting of one detached 2bed/1ba home, one - 2bed/1bath and two - 1bed/1ba units on a 7,325 sq. foot corner lot. The units are well maintained; the detached home has a private backyard and the remainder have fenced patios/front yards. Additionaly; the… Read More property has a detached garage that could potentially be converted to an accesory dwelling unit (ADU). Rents are significantly under market providing substantial upside/value-add through rent stabilization, conservative/consistent rent increases would bring this to above a 6.2% CAP rate. The property is well located and resides in an Opportunity Zone, Transit Priority Area as well as the San Diego Promise Zone providing significant tax/development benefits and strong potential for continued gentrification in the region. It is within a 5 minute drive to Downtown San Diego, PETCO Park & the Convention Center, Coronado Island, the new Gaylord Development in Chula Vista and the San Diego Naval Base. Tenants enjoy close proximity to city transportation, trolleys and bus lines, freeway access, employment hubs, schools, entertainment venues, restaurants and the property resides just south of the newly redeveloped Rodriguez Elementary School. The central location & property features make this a great investment opportunity for a first time investor, owner occupant or seasoned developer or existing owner looking to add to their portfolio. Read Less
Listing Snapshot
Days Online
0
Last Updated
Lot Size
0.17 Acres
Year Built
1956
MLS Number
2601068SD
Additional Details
Building
Built in 1956, 2 buildings, 1 storey, Levels: One
Community
Park Name: no
Cooling
SeeRemarks
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $759,800, Net Operating Income: $50,954
Lot
0.1682 acres, Dimensions: 50X140
Roof
Composition
Taxes
Parcel Number: 5500510100, Zoning: RM-1-1
Tenant Pays
SeeRemarks
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