Built in approximately 1988, the property consists of approximately 6,316 square feet on a large 19,979 square foot lot. The unit mix includes one 3-bedroom, 2.5-bath front house and six 2-bedroom units, including two townhomes. Two of the 2-bedroom units provide direct access to garages, and those garages include washer/dryer hookups.
The property offers 14 parking spaces, select private yards and balconies, separate SDG&E meters, and more than $90,000 in completed capital improvements, including plumbing, roofing, decking, stairways, and HVAC work.
Current scheduled income is approximately $146,064 annually, compared with estimated market income of approximately $199,200. This represents approximately $53,136 in potential annual gross-income upside through future rent increases and lease-up, subject to buyer verification and market conditions.
At the asking price, the property reflects an estimated 4.83% current cap rate and 7.78% market cap rate, along with a 4.03% current return on cost and estimated 6.48% market return on cost.
Located along Central Avenue, the property provides convenient access to State Routes 94 and 125, La Mesa, Spring Valley, Downtown San Diego, local shopping, restaurants, parks, and surrounding employment centers.
All financial information, rents, expenses, square footage, parking, and property characteristics are estimates or information provided by ownership and should be independently verified by the buyer.
Please do not enter or walk the property, or contact any tenants or property management, without the prior approval of the Listing Agent.