REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Glen Henderson

[email protected] +1(619) 889-7646

$2,300,000

Est. payment - /mo

4 Beds

4 Baths

0.33 Acres Lot

Save

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID PTP2601254

Bedrooms 4

Lot Size 0.333 Acres

Property Sub-Type Res Income 2-4 Units

Type of Financing Conventional

Property Type Res Income 2-4 Units

Property Description

Price just reduced by $200,000 to facilitate a quick sale! 21-33 S 35th St presents the opportunity to acquire a high yield, partially renovated, low-density, triple lot, multifamily asset with a detached 3 Bed /2 Bath house in Central San Diego. The property possesses 3 water meters, suggesting a 3-way lot split could be feasible on the site. 21-33 S. 35th Street was originally constructed in 1960 with 9 of the 10 units renovated in 2021-2022 including the buildout of the two studio ADUs. A few units do possess deferred maintenance from 4-5 years of rental operations. One unit should receive a full interior renovation. The asset consists of 5 buildings: a detached 3 Bed / 2 Bath house, a 1 Bed / 1 Bath detached cottage, a quadplex of (4) 1 Bed / 1 Bath units, a duplex of (2) Studios, and a duplex of (2) 2022 completion Studio ADUs. All but two units have mid-sized private yards helping to drive longer term occupancy and higher rents. The property is well parked with 13 off-street parking spaces for the 10 units providing for over 1 parking space per bedroom. 21-33 S. 35th Street offers strong financial metrics with $209,748 GSI in-place and $218,630 GSI with immediately available rent increases yielding a 6.07% cap rate. Additionally, the existing rents are under market allowing for further income potential with market gross income of $233,880 for a potential 6.70% cap rate. The asset is centrally located in Logan Heights providing quick access to Downtown San Diego, Coronado Island, Balboa Park, North Park, South Park, and the San Diego Navy Base, Airport, & Bay all withi

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 5461360200

Acceptable Financing Conventional

Listing Terms Conventional

Read Less Info

Listed by Maxwell Brown, DRE#02127395 Commercial Asset Advisors

Nearby School & Business

Get More Information

Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

21-33 S 35th Street San Diego, CA 92113

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

Get More Information