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Key Details
Sold Price $1,420,000
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PTP2504831
Sold Date 08/26/25
HOA Y/N No
Year Built 1978
Lot Size 6,250 Sqft
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. The 2 bed could easily be turned into a 3 bed or turn the bonus room and garage into an 8th unit. Sky's the limit. 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. Showings will be scheduled only upon an accepted offer. Please do not access the property or disturb the tenants
Location
State CA
County San Diego
Area 92105 - East San Diego
Zoning R-4:MULTIPLE RESIDENTIAL
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Curbs, Sidewalks
View Y/N No
Total Parking Spaces 2
Private Pool No
Building
Lot Description Level
Story 2
Others
Senior Community No
Tax ID 4714011100
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Lease Land No
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Bought with Sarah Newcomb Real Broker