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Welcome to this refurbished three unit investment property near down town San Diego. All three units have new wood laminate flooring, new appliances, new granite counters, and paint. Unit mix consists of a top unit that is a 3 bedroom, 1 bathroom (est 995 sqft). There is a 1 bedroom, 1 bathroom (est 460 sqft) and a 2 bedroom, 1 bathroom (est 651 sqft) on the first floor. All units are separately metered. Current rents are well below market rates.The property offers excellent potential for long-term growth, with the opportunity to increase value by adjusting rents to market rates. The pro forma cap rate with these adjustments is estimated to be in the 7-8% range, making this an attractive investment opportunity.
Property Type(s):
Residential Income
| Last Updated | 9/30/2024 | Tract | Downtown |
|---|---|---|---|
| Year Built | 1913 | Community | San Diego Downtown |
| County | San Diego |
Price History
| Prior to Sep 29, '24 | $1,165,000 |
|---|---|
| Sep 29, '24 - Today | $999,000 |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Disposal, Gas Range |
| AREA | San Diego Downtown |
| HEAT | Electric |
| LOT | 3751 sq ft |
| LOT DESCRIPTION | 2-5 Units/Acre |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Downtown |
| UTILITIES | Cable Available,Electricity Connected,Natural Gas Connected,Sewer Connected |
| WATER | Public |
| ZONING | RM-1-1 |
Location
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Listed with Hallway Realty
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2024.
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