2642 48 44th ST Active Save Request In-Person Tour Request Virtual Tour
San Diego,CA 92105
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,185 sqft
Price per Sqft $388
MLS Listing ID PTP2405613
Year Built 1984
Lot Size 9,391 Sqft
Property Description
Commercial Asset Advisors is pleased to present 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 $205,752 in gross annual income yielding a 5.68% 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 6.81%, excluding renovation costs. The detached house could receive a fully fenced yard and private driveway to maximize rental income.
Location
State CA
County San Diego
Area 92105 - East San Diego
Zoning Multifamily
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Laundry None
Exterior
Pool None
Community Features Curbs
View Y/N No
Building
Lot Description 21-25 Units/Acre
Story 2
Sewer Public Sewer
Others
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard