1343 Highland Ave - Apartments FOR SALE


National City, CA 91950
$895,000 USD
619-623-2132
1343 Highland Ave, National City, CA for Sale
$895,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

1343 Highland Ave
National City, CA 91950


HIGHLIGHTS

  • Mixed use income stream, 2 residential units plus 2 commercial suites in one acquisition
  • Highland Ave frontage
  • Substantial rental upside, current gross income of $30,000/year against market gross income of $86,400/year, an 80.7% increase
  • Immediate lease up opportunity with the vacant residential and office units
  • Manageable four unit scale, well suited to a private investor or 1031 buyer
  • Renovated 1 bed 1 bath unit

OVERVIEW

3 units operating as 4 units, mixed use investment on Highland Ave, one of National City's designated mixed use commercial corridors. The offering combines two residential units at the rear of the parcel with two ground floor commercial suites fronting Highland Ave, giving an investor a blended income stream with substantial upside as commercial rents are brought to market and the vacant office suite is leased up. Unit mix is (1) 2BR/1BA residential, (1) 1BR/1BA residential currently vacant, (1) salon suite, and (1) office suite, currently vacant. Building is 1,908 SF on a 6,151 SF (0.14 AC) lot, zoned MXC-2, Major Mixed Use Corridor, which permits high intensity, transit oriented mixed use redevelopment up to 65 feet and 5 stories, with density up to 75 dwelling units per acre. Current gross income is $30,000/year against a market gross income of $86,400/year, representing 80.7% upside. Two rear residential units provide stable, easier to manage income, while the two front facing commercial suites (a salon and a vacant office) offer immediate lease up opportunity. Manageable four unit scale suited to a private investor or 1031 buyer or someone looking to live in one unit and rent out the others. Listed at $895,000. Buyer to verify year built and all square footages. Contact listing agents for OM.

FOR SALE DETAILS

PRICE

$895,000 USD

PRICE/SF

$469 USD /SF

# OF UNITS

4

PRICE/UNIT

$223,750

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

MXC-2

APN/PARCEL ID

561-013-17

ASK ABOUT THIS PROPERTY

Ivan Del Muro-GarciaLee & AssociatesMore Info
619-623-2132

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Ivan Del Muro-GarciaLee & AssociatesMore Info
619-623-2132

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.