Prime value-add + development opportunity in highly desirable Talmadge. This 6,600 SF RM-1-1 zoned lot currently features three units: a front duplex with two 1bd/1ba units, plus a detached 2bd/1ba house in the rear. Seller has fully approved permits in hand to demolish the rear house and construct 9 new… Read More units, while retaining and renovating the existing duplex—bringing the total to 11 rentable units. New ownership can begin renovations and lease-up immediately. Projected pro forma cap rate of 7.5%. Located in a low-density, high-demand rental market with limited multifamily supply. Excellent access to I-8 and I-15 puts you minutes from Downtown, Mission Valley, Kensington, and the College Area. Rare opportunity to develop in one of San Diego’s most stable, appreciating infill neighborhoods. Read Less
Property listed by JLM Real Estate Inc, Miles Slater 949-207-8321
Listing Snapshot
Days Online
7
Last Updated
Property Type
Other
Lot Size
0.15 Acres
Year Built
1940
MLS Number
250024234SD
30 Days Snapshot Of 92115
$858k
+1%
(avg) sold price
29
0%
homes sold
67
+9%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1940, Levels: One, 1 story, 3 buildings
Cooling
SeeRemarks
Income
Net operating income: $12,722
Lot
0.1495 acres, 6,514 square feet, Size: 6,514
Property
Zoning: RM-1-1
Tenant Pays
SeeRemarks
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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