2904 E 16th Street

National City, CA 91950

UPDATED:

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Listing Price

$815,000

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Glen Henderson

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Key Details

Property Type: Com-Res Income

Lot Size: 0.87 Acres

Purchase Type: For Sale

Listing Status: Active

MLS Listing ID: 180011778

Property Description

INTERIOR UNITS WILL BE SHOWN 12pm-2PM ON THURSDAY (6/14/18). BEST DEAL ON MARKET. BRING ALL OFFERS. 6 units that are value add with severely under market rents, or to redevelop into 6 detached 2600 SF homes. Unit mix consist of 1-3br/1bt House, 1-2br/1bt House, and 4-1br/bt units. The property contains 3 parcels (558-210-20-00;23;24) that sit on a 38,101 SF lot. Current owner has started process to redevelop units into 6-4br/2bt detached homes. Another option is for the new owner to rehab units and bring rents to market. Proforma Cap Rate estimated at 6.82% and ProForma GRM estimated at 10.15. These options will allow an investor to have strong cash flow as he plans to develop or obtain a strong cash flowing property have rehabbing units.

Location

State: CA

County: San Diego

Schools

Elementary Schools: John Otis Elementary School,Olivewood Elementary School,Lincoln Acres Elementary School

School District: National Elementary School District

Neighborhood Demographic

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Glen Henderson


Broker Associate CA BRE #01384181

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