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$2,399,999

Est. payment - /mo

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6,185 SqFt

Active

2642 48 44th ST San Diego, CA 92105

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

10/28/2024 09:41 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,185 sqft

Price per Sqft $388

MLS Listing ID PTP2405613

HOA Y/N No

Year Built 1984

Lot Size 9,391 Sqft

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.

Location

State CA

County San Diego

Area 92105 - East San Diego

Zoning Multifamily

Rooms

Ensuite Laundry None

Interior

Laundry Location None

Fireplace No

Laundry None

Exterior

Pool None

Community Features Curbs

View Y/N No

Private Pool No

Building

Lot Description 21-25 Units/Acre

Story 2

Sewer Public Sewer

Others

Senior Community No

Tax ID 4764913300

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

Listed by Maxwell Brown • Commercial Asset Advisors • mbrown@caacre.com

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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