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Listed by Leslie Peraza • Finest City Homes
$ 1,849,000
Est. payment | /mo
0.36 Acres Lot
$ 1,849,000
Est. payment | /mo
0.36 Acres Lot
Key Details
Property Type Multi-Family
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPTP2500689
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1948
Lot Size 0.360 Acres
Property Sub-Type OTHER
Property Description
ENTERTAINING ALL OFFERS - DOUBLE LOT, HIGH RENT ROLL, + DEVELOPMENT OPPORTUNITY! In the opportunity zone, this SFR + Duplex have potential to add value. This is a double lot located in West Chula Vista with freeways, public transportation, and shopping accessible. This property boasts a 4 bed + loft, 2 bath Single Family Residence as well as a Duplex with 2 beds, 1 bath per unit (newly constructed). The existing 3 units are all built on 1 side of the almost 16,000 sqft lot. New owners can LOT SPLIT or continue to develop the west half of the property utilizing SB-9 regulations to their advantage. Each unit has designated parking and washer/dryer hookup. All 3 units are currently rented on a month-to-month lease, have ample parking, and have their own washer/dryer hookup. Unit 1: SFR 4 bed/2 bath, Rent is $3545, Pro Forma: $4000. Unit 2: Duplex Side A 2 bed/1 bath, Rent is $2315, Pro Forma: $2550. Unit 3: Duplex Side B 2 bed/1 bath, Rent is $2235, Pro Forma: $2550. Gross Income: $97140. Cap Rate is approximately 4.81% but can be increased with Pro Forma rents up to 4.9%. ATTENTION DEVELOPERS: This Property falls within the "Opportunity Zone" which provides tax incentives with the intention to promote investment in economically distressed neighborhoods. Investor's Keep all Apprecia
Location
State CA
County San Diego
Interior
Fireplace No
Laundry Other
Building
Lot Description Level, Other, Front Yard
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