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$999,000
Est. payment /mo
5 Beds
3 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Lemon Grove
MLS Listing ID 260019237
Bedrooms 5
Full Baths 2
Half Baths 1
Year Built 1958
Property Sub-Type Res Income 2-4 Units
Property Type Res Income 2-4 Units
Property Description
Two detached homes on one lot in a quiet Lemon Grove cul-de-sac. Front home is 3 bed, 1.5 bath, approx 1,100 SF. Back home is 2 bed, 1 bath, approx 774 SF. Each has its own gas and electric meter and its own single-car garage, so you get two independent tenancies with minimal overlap. At current rents the property pencils at a 5.8% cap rate, based on what the units bring in today rather than projected increases. Strong fit for an investor wanting long-term value with cash flow in place from day one, or for a buyer looking to occupy one home and let the second unit cover a portion of the mortgage. Detached units command more than a standard duplex and tend to hold tenants longer with cleaner turnovers. Detached 2-on-1 lots don't come up often in Lemon Grove.
Location
State CA
County San Diego
Area East County
Interior
Cooling Wall/Window
Fireplace No
Exterior
Fence Full
View Y/N No
Roof Type Composition
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 479-340-37-00
Acceptable Financing Cash, Conventional, FHA, VA
Listing Terms Cash, Conventional, FHA, VA
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Listed by Twana Rasoul, DRE#02026495 Compass
Nearby School & Business
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Glen Henderson
Broker Associate | CA BRE #01384181
Broker Associate CA BRE #01384181
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