2642 48 44Th Street, San Diego, CA 92105
-
Listed Price :
$2,399,999
-
Beds :
N/A
-
Baths :
-
Property Size :
N/A sqft
-
Year Built :
1984
Property Description
2642-48 44th St presents 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.
Interior Features
| Laundry Information |
| Location(s) |
None |
| Bedroom Information |
| Bedrooms |
N/A |
Listing Information
| Address |
2642 48 44Th Street |
| City |
San Diego |
| State |
CA |
| Zip |
92105 |
| County |
San Diego |
| Listing Agent |
Maxwell Brown DRE #02127395 |
| Courtesy Of |
Commercial Asset Advisors |
| List Price |
$2,399,999 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
N/A |
| Lot Size |
9,391 |
| Year Built |
1984 |
Listing information courtesy of: Maxwell Brown, Commercial Asset Advisors. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 28th, 2024 at 9:41 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
