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$2,295,000

Beds
9
Baths
7.0
sq ft
4,431

6831 Amherst St, San Diego, CA 92115

6831 Amherst St

San Diego, CA 92115

  • 42 days on market
Current 4-unit building has very large backyard with ability to add 8 MORE UNITS to create a 12-unit apartment community. MASSIVE UPSIDE and seller may be open to staying on to complete the development with buyer. Amazing opportunity to own an income producing 4 unit property in a highly desirable neighborhood near SDSU! All units have been remodeled with new interior/exterior paint, new flooring, new kitchen cabinets/countertop, can lights in every room, remodeled bathrooms, laundry rooms, new windows, new electrical outlets, & new ceiling fans. The renovated units will ensure your income stream is reliable at acquisition with 1 unit already rented out and the others soon to follow as the development is under professional management. Additional Opportunity exists with recent law changes allowing for an increased FAR with the ability to add 4 additional ADUs at 500 sq. ft. each. Assuming construction cost of $720K and each new unit renting at $1900/month, this property would perform over 5% cap rate, excellent for San Diego! The Sellers are willing to assist in helping the new owners build the new ADU units and maximize their investment!

Details

Property type

Lot size

6,981 sq ft

Price per sq ft

$518

Year built

2000

Price History

10/11/2024
SanDiego

SanDiego #240018911

Removed
$2,600,000
+13.29%
10/11/2024
SanDiego

SanDiego #240024215

Listed
$2,295,000
-11.73%
08/10/2024
SanDiego

SanDiego #240018911

Listed
$2,600,000
+213.25%

Schools & Community

Neighborhood: 

Rolando

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Status: Active

Tomo last checked: 11/22/2024 at 11:45 AM

Listing updated: 10/17/2024 at 10:21 AM

Listed by: Seth OByrne, Compass Phone #: (858) 345-4514

MLS: SanDiego #240024215

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