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$1,250,000
Est. payment /mo
3 Beds
2 Baths
10,049 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PTP2607421
Bedrooms 3
Lot Size 10,049 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
4086-98 National Ave presents a huge value-add opportunity to acquire 9 units in San Diego at an exceptional cost basis. Offered at $1,250,000, the property is priced at just $138,889 per unit, significantly below prevailing price-per-unit levels for comparable multifamily properties. This low acquisition basis provides investors with significant upside to complete a comprehensive renovation and reposition the asset for long-term cash flow and appreciation. This will need to be a cash or private financing only sale! The property consists of eight (8) one-bedroom/one-bathroom units and one (1) detached two-bedroom/one-bathroom house. All units are single-story, providing convenient access and an efficient, low-density residential layout. The property is individually metered for gas and electricity and offers a single-car garage, an oversized approximately 1.5-car-wide garage, and four additional off-street parking spaces. The asset currently exhibits substantial deferred maintenance and rents well below prevailing market levels, creating significant upside through a full interior and exterior renovation program. Post renovation and stabilization projects $216,780 GSI and $148,311 NOI, resulting in an 11.86% pro forma cap rate, excluding renovation costs. Additional revenue potential includes garage and parking income, laundry income, and the implementation of a water and trash reimbursement program. Located in San Diego's 92113 submarket, the property offers convenient access to San Diego Bay, Coronado Island, Downtown San Diego, Barrio Logan, Naval Base San Diego, major emp
Location
State CA
County San Diego
Direction GPS
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 5510221100
Acceptable Financing Cash
Listing Terms Cash
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Listed by Maxwell Brown, DRE#02127395 Commercial Asset Advisors
Nearby Locations
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Donita Thompson
Broker Associate License ID: 01113919
Broker Associate License ID: 01113919