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
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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
- Address2642 44th Street San Diego CA
- Area92105 – East San Diego
- CitySan Diego
- CountySan Diego
- Zip Code92105
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Courtesy of Commercial Asset Advisors. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
2642 44th Street
San Diego, CA
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