Normal Heights 4plex

San Diego, CA 92116

Active

$1,798,000

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Property Description

• $20K+ of exterior improvements including full exterior painting completed within the last few months!
• Irreplaceable 1926 built, Spanish-style front 2bed+1bath house with front yard, driveway, & W/D hookups
• (3) 2bed+1bath units in rear triplex built in 1983
• (4) 1-car / storage garages on rear alley – potential for 1 or more ADUs
• Common, gated inner courtyard area with coin-op. laundry, tables/chairs
• Solid current rents with 16%+ upside
• Tenants pay all utilities
• Front yard has potential for additional parking
• Well maintained interiors ready for further upgrades
• Highly desirable, central Normal Heights location near everything
• Long-term owner last 23 years

Irreplaceable 1926 built, Spanish-style front 2bed+1bath house with plentiful charm and character (960 SF est.) w/ raised porch, new flooring, recent bathroom upgrades, 2-car tandem driveway parking, and W/D hookups. (3) 2bed+1bath units in rear triplex built 1983 (est. 730 SF avg.). (4) 1-car/storage garages on rear alley – POTENTIAL FOR ADUs $$$! Solid current rents with 16%+ upside. Common area gated courtyard with coin-op. laundry. Potential to increase laundry or storage income. Tenants currently pay all utilities. 2 off-street parking spaces in rear alley. Front yard has potential for additional parking. Well maintained interiors with vinyl wood-like flooring, SS appliances, upgraded kitchens and bathrooms, and additional storage/bonus room(s). Units are ready for further upgrades. Highly desirable, central Normal Heights location near everything. Zoned RS-1-7. Long-term owner last 23 years.

Contact Agent

Maxim Delbecq, MBA

858.333.7701

DRE # 01964069

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Property Details

Property Type

Multifamily

Units

4

SqFt

3,149

Unit Mix

(4) 2bed+1bath

Year Built

1926/83

Price

Price/Unit

Price/SF

GRM

Cap Rate

$1,798,000

$448,500

$570

14.88

4.80%

Property Location

Normal Heights