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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 2,300,000

Est. payment | -/mo

5 Beds

5 Baths

6,628 Sqft Lot

Save

$ 2,300,000

Est. payment | -/mo

Save

5 Beds

5 Baths

6,628 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID PTP2607746

Bedrooms 5

Lot Size 6,628 Sqft

Property Sub-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

Listed by Reese Nickell, DRE#02195727 Freedom Realty

NEARBY SCHOOL & BUSINESS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA 92124

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4576-4582 Felton Street San Diego, CA 92116