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$1,500,000
Est. payment /mo
8 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision San Diego
MLS Listing ID 260024802
Bedrooms 8
Full Baths 4
Year Built 1959
Property Sub-Type Res Income 2-4 Units
Property Type Res Income 2-4 Units
Property Description
4 EXISTING UNITS + PLANS TO BUILD 4 ADDITIONAL ADUs. Introducing an exceptional investment opportunity in Southeast San Diego, just blocks from Interstate 15 and Imperial Avenue. 3517-23 J St is a well maintained 4-unit multifamily property featuring four 2 bed / 1 bath apartments (2,912 SF, built 1959) on a 7,071 SF RM-1-1 lot with off-street parking in front and a large open rear yard. Three units are leased with tenants reimbursing water through a RUBS program, and one unit is vacant. This is an ideal for an owner-user or a buyer looking to set rents at market from day one. What sets this property apart is the MASSIVE development upside: a full architect-designed plan set is in hand for four detached 2 bed / 1 bath ADUs in the rear yard, offering a clear path to double the unit count to 8 and dramatically increase income on a rare, deep infill lot. Current rents sit well below market, providing additional value-add upside even before any construction. Offered at $1,500,000, this is a compelling opportunity for the investor looking to capitalize on San Diego's strong rental demand and build long-term value. Seller is completing a 1031 exchange; buyer to cooperate with seller's exchange at no cost to buyer.
Location
State CA
County San Diego
Area Metro Central
Interior
Fireplace No
Exterior
Fence Partial
View Y/N No
Roof Type Composition
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 546-112-03-00
Acceptable Financing Exchange
Listing Terms Exchange
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Listed by Kevin Hemstreet, DRE#01490629 South Coast Commercial, Inc.
Nearby School & Business
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