High-performing 7-unit property with strong financials. Offering a 5.77% current cap rate and 11.28 GRM, this investment delivers immediate cash flow with room for upside. The property features a desirable unit mix: 3 spacious 2-bedroom/2-bath units, 2 well-appointed 2-bedroom/1-bath units, and 2 charming 1-bedroom units. Interiors have been fully renovated, showcasing new laminate flooring, quartz countertops, updated kitchens, and tiled bathrooms. Additional upgrades include a new roof and energy-efficient windows. The property includes 6 garages, with plans underway to convert them into 4 ADUs (anticipated completion of plans in Q1 2025—contact agent for details). Current rents do not reflect the value of the garages, offering further income potential through leasing or ADU conversion. This is a turnkey asset with both stability and growth potential.
PropertiesMorgan Scott2024-05-10T12:24:32+00:00
Property Description
Address Map
US
CA
SD
East San Diego
92105
49th Street
4085
W118° 54' 40.5''
N32° 45' 3.9''
Metro Uptown
Additional Info
Apartment Realty Group (ARG)
Additional Information
7
3
Listing Information
670002
60078
ACTIVE
2024-12-10T22:50:23Z
sdmls
: N/K
5 Bedrooms
4,787
$2,100,000
Listing ID #240028216
Basic Details
Property Type : Residential Income Additional
Listing Type : For Sale
Listing ID : 240028216
Price : $2,100,000
Bedrooms : 5
Square Footage : 4,787
Status : Active
Property Sub Type : Com-Res Income
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