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Key Details
Sold Price $1,420,000
Property Type Commercial
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PTP2504233
Sold Date 08/26/25
HOA Y/N No
Year Built 1978
Property Sub-Type Multi Family
Property Description
Exceptional value-add 7-unit multifamily investment in the heart of City Heights. Priced at just $228K per unit, this asset offers strong fundamentals with a GRM of 11.4 (pro forma) and a 6.3% pro forma cap rate. The unit mix includes six 1BR/1BA units and one spacious 2BR/2BA townhome-style unit with an attached 2-car garage and bonus room. All units are on month-to-month leases with rents well below market, presenting a major opportunity to increase cash flow. Located in an RM-1-1 zone within a Transit Priority Area, this site supports long-term redevelopment or potential ADU additions. Ideal for investors seeking immediate rental upside and future redevelopment potential.
Location
State CA
County San Diego
Area 92105 - East San Diego
Zoning RM-1-1
Interior
Fireplace No
Building
Lot Description Street Level
Story 2
Others
Tax ID 4714011100
Acceptable Financing Cash, Conventional, Private Financing Available
Listing Terms Cash, Conventional, Private Financing Available
Special Listing Condition Standard
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Bought with Sarah Newcomb Real Broker