Active
2642 44th Street
East San Diego CA, 92105
$2,400,000
Active
3 Beds
Multi-family
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.
PTP2405613
MLSⓇ ID
September 13, 2024
Listed
December 6, 2024
Updated
Map
2642 44th Street
East San Diego CA, 92105
Interior Features
Total Stories
2
Bedrooms
3
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.22 Acres
Lot Features
Curbs
Other Property Details
Days on Market
88
Garage
No
View
No
County
San Diego
Pool
No
Pool Features
None
Listing History
Date | Event | Price |
|---|---|---|
12/6/2024 | Price change | $2,400,000 0% |
10/17/2024 | Price change | $2,399,999 -1% |
10/3/2024 | Price change | $2,400,000 -4% |
Listed by Commercial Asset Advisors, ,
Listing Contact: 925-872-6746
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Data last updated 6:20 PM UTC, 12/6/2024
