2642 48 44Th Street

San Diego, CA 92105

PRICE REDUCED

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-$75,000 (-3.03%)

$2,400,000

List Price

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1984

calendar_month Built

Property Description

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 $206,880 in gross annual income yielding a 5.81% 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 7.05%, excluding renovation costs. The detached house could receive a fully fenced yard and private driveway to maximize rental income.

Listing Information

List Price $2,400,000
Status Active
MLS PTP2405613
HOA $0
Type Residential Income
Year Built 1984
Lot Size 9,391
Structure Size N/A
DOM 82
Courtesy Of Commercial Asset Advisors
Listing Agent Maxwell Brown DRE#02127395

Interior Features

Laundry Information
Location(s) None
Total Bedroom
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Exterior Information

Maps

Listing information courtesy of: Maxwell Brown, Commercial Asset Advisors 925-872-6746. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 5th, 2024 at 12:13 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.