479 Shy Ln - Apartments FOR SALE


Chula Vista, CA 91911- Harborside
$1,225,000 USD
858-461-9910
479 Shy Ln, Chula Vista, CA for Sale
$1,225,000 USD
Apartments - FOR SALE
1/20
null | 2.88% Cap Rate

479 Shy Ln
Chula Vista, CA 91911
Harborside


HIGHLIGHTS

  • 2 Fully Detached 3BR/2BA Homes on a Single 10,454 SF Lot
  • Both Homes Single-Story – Individually Metered for All Utilities
  • Front Home Built 1963 (~1,500 SF) – New Roof (2021) & New Vinyl Windows (2023)
  • Back Home Built 1982 (~1,100 SF) – Vacant & Move-In Ready
  • Long-Term Tenant in Front Home (~40 Years) at Below- Market Rent – Upside Potential
  • Ideal for Owner-Occupant (Live in One, Rent the Other), Multi-Gen, or Investor

OVERVIEW

479 Shy Lane offers two fully detached, single-story 3-bedroom/2-bathroom homes on an oversized 10,454 SF lot in a quiet, dead-end pocket of Chula Vista — smart for owner-occupants and investors alike. Live in the updated 1982 back home and rent the 1963 front home (new roof '21, windows '23) at market rent to meaningfully offset your housing cost vs. a standalone 3BR/2BA. Bringing the long-term tenant's rent to market pushes the cap rate to a pro forma ~5%+. Each home is separately metered, tenants pay all utilities, minutes from Walmart, Costco, and freeway access, and the R1 lot may allow room to expand or add an ADU (buyer to verify).

FOR SALE DETAILS

PRICE

$1,225,000 USD

PRICE/SF

$467 USD /SF

# OF UNITS

2

PRICE/UNIT

$612,500

CAP RATE

2.88%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2-3BR/2BT Houses/ Separately Metered

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,495 SF

ZONING

R1

APN/PARCEL ID

618-302-06

ASK ABOUT THIS PROPERTY

858-461-9910

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858-461-9910

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