2635 Newton

San Diego, CA 92113

Active

$1,000,000

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Property Description

The subject property is a 5 unit value-add property with irreplaceable craftsman charm and character, consisting of three 2 bed + 1bath and two 1 bed + 1bath units. The original front house was built in 1898 per assessor records and divided into units later. The upper 1bed + 1 bath has a loft feel with a private balcony and storage area. There is a total of 2,661 rentable SF on a 5,163 SF lot. The common-area features a paved courtyard with laundry, storage and an additional exterior bathroom. The two rear, 2-bedroom units offer alley access and off-street parking for 2 cars. Some recent improvements in some of the units include newer kitchen cabinets, countertops and flooring. The property is a significant “fixer” and needs work to bring units and property to market levels. However, there is significant upside in rents and the possibility for the property to be delivered vacant.

Property Details

Property Type

Multifamily

Units

5

SqFt

2,661

Unit Mix

(3) 2+1, (2) 1+1

Year Built

1898

Price

Price/Unit

Price/SF

GRM

Cap Rate

$1,000,000

$200,000

$376

11.26

5.07%

Property Location

Barrio Logan

Contact Agent

Maxim Delbecq, MBA

858.333.7701

DRE #01964069

Kenneth Herskind

858.699.4013

01872460

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