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$2,095,000
Est. payment /mo
9 Beds
7 Baths
1,250 SqFt
UPDATED:
01/08/2025 06:03 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Square Footage 1,250 sqft
Price per Sqft $1,676
Subdivision San Diego
MLS Listing ID 250000332
Bedrooms 9
Full Baths 7
HOA Y/N No
Year Built 2000
Lot Size 6,981 Sqft
Property Description
Current 4-unit building has very large backyard with ability to build 12 micro units to create a 16 unit apartment community. MASSIVE UPSIDE and seller may be open to staying on to complete the development with buyer. Amazing opportunity to own an income producing 4 unit property in a highly desirable neighborhood near SDSU! All units have been remodeled with new interior/exterior paint, new flooring, new kitchen cabinets/countertop, can lights in every room, remodeled bathrooms, laundry rooms, new windows, new electrical outlets, & new ceiling fans. The renovated units will ensure your income stream is reliable at acquisition with all 4 units currently rented. Additional Opportunity exists with recent law changes allowing for an increased FAR with property having 2,600 sq ft of development space allowing the buyer to build 12 micro units (4 building structures that would each be 3 stories tall) at 210 sq ft/unit to achieve the highest and best use of the property that would perform at a 6.86% cap rate, the micro units would rent out for $1,300/month, excellent for San Diego! The Sellers are willing to assist in helping the new owners build the new ADU units and maximize their investment!
Location
State CA
County San Diego
Community San Diego
Area San Diego (92115)
Building/Complex Name La Mesa Colony
Interior
Heating Electric, Natural Gas
Cooling Other/Remarks
Exterior
Exterior Feature Stucco
Parking Features Unit1:Attached Unit2:N/K Unit3:N/K Unit4:N/K
Garage Spaces 1.0
Fence Partial
Roof Type Composition
Building
Story 1
Lot Size Range 4000-7499 SF
Level or Stories 1 Story
Others
Acceptable Financing Cash, Conventional
Space Rent $3,600
Listing Terms Cash, Conventional
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Listed by Seth OByrne • Compass