$2,475,000
- Beds
- Unknown
- sq ft
- 6,185
2642 48 44th Street, San Diego, CA 92105
2642 48 44th Street
San Diego, CA 92105
- 16 days on market
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 at a 5.22% 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 6.45%, excluding renovation costs. The detached house could receive a fully fenced yard and private driveway to maximize rental income.
Details
Property type
Lot size
9,391 sq ft
Price per sq ft
$401
Year built
1984
Price History
09/13/2024
CRMLS #PTP2405613
Listed
$2,475,000
Schools & Community
Neighborhood:
Swan Canyon
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Community features: Curbs
Community features:
Curbs
Status: Active
Tomo last checked: 09/28/2024 at 7:15 PM
Listing updated: 09/28/2024 at 6:41 PM
Listed by: Maxwell Brown, Commercial Asset Advisors Phone #: (858) 360-3000
MLS: CRMLS #PTP2405613
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