2642 44th Street
San Diego, CA, 92105
$2,399,999
Beds
0 Baths
SqFt
0.22 Acres
Add
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.

Property Details

Price:
$2,399,999
MLS #:
PTP2405613
Status:
Active
Baths:
0
Address:
2642 44th Street
Type:
Residential Income
Neighborhood:
92105eastsandiego
City:
San Diego
Listed Date:
Sep 9, 2024
State:
CA
ZIP:
92105
Lot Size:
9,391 sqft / 0.22 acres (approx)
Year Built:
1984
Ask a Question

See this Listing

Send
  

Mortgage Calculator

 

Schools

Interior

Exterior

Community Features
Curbs
Garage Spaces
0.00
Lot Features
21-25 Units/ Acre
Parking Spots
0.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2

Financial

Association Fee
0.00

Map

Community

Similar Listings Nearby

2642 44th Street
San Diego, CA