Request More Info
Schedule a Showing
Share
Print
|
2642-48 44th St presents the opportunity to acquire a turnkey 9-unit multifamily asset located in the residential focused lower City Heights area of San Diego with an ideal unit mix. The micro location is walking distance to Hamilton Elementary school and just off the beaten bath of the City Center primary thoroughfares providing for a family oriented neighborhood pocket. The 9,391 sqft lot is comprised of three separate buildings: a 6 unit apartment building consisting of (4) 1 bedroom units and (2) 2 bedroom units, a duplex with (2) 2 bedroom/1 bath units with small rear yards, and a detached 2 bedroom/1 bath house. The asset includes 11-12 on-site parking spaces, along with ample street parking. This property offers strong in-place financial metrics with $206,880 in gross annual income yielding a 5.81% cap rate with additional room for growth. An investor looking to maximize returns might consider renovating the units, which could achieve a pro forma cap rate of 7.05%, excluding renovation costs. The detached house could receive a fully fenced yard and private driveway to maximize rental income.
| Last Updated | 12/6/2024 | Tract | City Heights |
|---|---|---|---|
| Year Built | 0 | County | San Diego |
Price History
| Prior to Oct 3, '24 | $2,475,000 |
|---|---|
| Oct 3, '24 - Oct 17, '24 | $2,400,000 |
| Oct 17, '24 - Dec 6, '24 | $2,399,999 |
| Dec 6, '24 - Today | $2,400,000 |
Additional Details
| LOT | 9392 sq ft |
|---|---|
| LOT DIMENSIONS | 7,500-10,889 SF |
| STORIES | 2 |
| SUBDIVISION | City Heights |
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by Sandicor®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation ©2024 Sandicor®, Inc.
Properties on this website was last updated as recently as 12/23/24 4:25 AM PST.
This IDX solution is (c) Diverse Solutions 2024.
Location
Contact us about this Property
| / | |
| We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for One Mission Realty to contact you even if your name is on a Federal or State "Do not call List". | |
Twitter
Facebook
Email