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$2,300,000
Est. payment /mo
5 Beds
5 Baths
6,628 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID PTP2607746
Bedrooms 5
Lot Size 6,628 Sqft
Property Sub-Type Res Income 2-4 Units
Property Type Res Income 2-4 Units
Property Description
Rare 7-unit Normal Heights offering with the heavy lifting done. Two detached buildings on one lot: a 1926 Spanish-style 2BD/2BA single-family home, fully renovated in 2022, with its own detached garage and private fenced yard, plus a brand-new two-story building of six units completed in 2026 (two 2BD/2BA and four 1BD/1BA). The new units feature private entries, ductless mini-split A/C, tankless water heaters, quartz counters, electric ranges, fire sprinklers and individual water sub-meters. Six of seven units are leased at 2026 market rents, and one unit is ready to lease. Currently operating at a 5.64% cap rate, with the potential to reach 6.60% once stabilized. New construction means little deferred maintenance, and the new units may be exempt from AB 1482 rent caps (buyer to verify). Walk to the cafes, restaurants and shops of Adams Ave, minutes to North Park, I-805 and I-8.
Location
State CA
County San Diego
Direction GPS
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 4475212900
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
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Listed by Reese Nickell, DRE#02195727 Freedom Realty
Nearby School & Business
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