225-231 35th Street

San Diego, CA 92102

$1,580,000
Price
6
Beds
2,159 Sq. Ft.
$732 / Sq. Ft.
2,159
Sq. Ft.
$732
per Sq. Ft.

Description

EXCELLENT 4 UNIT CASH FLOW MULTI UNIT OPPORTUNITY Strong cash flow. Strong cap rate. Don't miss a special opportunity to own a strong cash flow investment multi unit just south of Metro San Diego. The large 5,247 square foot lot provides plenty of room for 3 buildings that house 4 units. The unit make up is comprised of 2 2 bedroom/2 bathroom homes at 615 and 590 square feet each. Each unit has a good sized full kitchen and bathroom as well as full closets and storage. Additionally, there are 2 1...EXCELLENT 4 UNIT CASH FLOW MULTI UNIT OPPORTUNITY Strong cash flow. Strong cap rate. Don't miss a special opportunity to own a strong cash flow investment multi unit just south of Metro San Diego. The large 5,247 square foot lot provides plenty of room for 3 buildings that house 4 units. The unit make up is comprised of 2 2 bedroom/2 bathroom homes at 615 and 590 square feet each. Each unit has a good sized full kitchen and bathroom as well as full closets and storage. Additionally, there are 2 1 bedroom 1 bathroom units at 495 square feet each with full kitchens and bathrooms, good sized closets and extra storage. The units and buildings are very well built and maintained and each are metered separately. The property features on site laundry and security gates. The lot is flat and easily maintained with a perfect mix of hardscaped courtyards and beautiful drought tolerant mature trees and flowering bushes. Each unit is tenant occupied and the property has a vacancy rate of zero and attracts long term tenants. The property has a strong cash flow, room for upside, and runs with extremely low operating costs. Call agent for full Offering Memorandum, current rent roll, pro forma rent roll, and cap rate possibilities. This property is situated within a Federal Opportunity Zone which will provide its owner with a myriad of tax benefits and economic incentives. This is a perfect multi unit opportunity for both new and seasoned investors alike. Own a special piece of San Diego and let this property bring you great returns.

Listing Agent

  1. Tanya Parks

    Tanya Parks

    Listing Agent

    Compass

    DRE #01961090

    t.parks@compass.com

    P: (619)-550-8887

Property Details for 225-231 35th Street

Parking Spaces Total
0
Private Pool
No
Total Units
4.0
Building Type
Attached
Lot Size Source
Public Records
Living Area
2159
Assessor Parcel Number
546-126-02-00
Property Attached YN
true
LISTING UPDATED: 10/06/2024 10:41 AM

Property Details for 225-231 35th Street

StatusActive
MLS #NDP2408975
Days on Market58
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1949
Lot Size0.12 AC / 5,247 SF
CountySan Diego County

Building Information for 225-231 35th Street

Stories1Residences-Year Built1949Building Size-Lot Size0.12 AC / 5,247 SF

Property Information for 225-231 35th Street

Rental Info
Rental Info
  • Tenant Pays: Telephone
Income / Expense / Tax Details
Income Details
  • Gross Income: $83,148
  • Gross Scheduled Income: $83,148
  • Net Operating Income: $71,429
  • Cap Rate: 4.52
Expense Details
  • Operating Expense: $11,718
  • New Taxes Expense: $843
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $152
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $11,718
Tax / Assessment Info
  • Tax Tract Number: 363
  • Tax Lot: 3
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area, Dryer Included, See Remarks, Washer Included
Exterior Features
  • Entry Location: 1
  • Fence: No
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre, Back Yard, Front Yard, Landscaped, Level with Street, Level, Park Nearby, Yard
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Sewer: Public Sewer
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,995
  • Unit Type Total Rent: $1,995
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 1
Unit 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,644
  • Unit Type Total Rent: $1,644
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 2
Unit 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,695
  • Unit Type Total Rent: $1,695
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 3
Unit 4
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,644
  • Unit Type Total Rent: $1,644
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 4
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number With Range: 4
  • Number With Refrigerator: 4

Property History for 225-231 35th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 225-231 35th Street

This home is within San Diego Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 3 to 5
Rating
School
Distance
Chollas/Mead Elementary School
PublicK to 5

Millennial Tech Middle School
Public6 to 8

Lincoln High School
Public9 to 12

King-Chavez Athletics Academy
Charter3 to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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225-231 35th Street is a multi-family home for sale in San Diego, CA 92102. This property was listed for sale on September 22, 2024 by Compass, it's currently listed at $1,580,000. It has been on the market for a total of 58 days and was last sold on May 21, 2019. This listing's school district is San Diego Unified School District. Nearby schools include Chollas/Mead Elementary School, Millennial Tech Middle School and Lincoln High School. 225-231 35th Street is a 6-bed, 0-bath, 2,159 sqft multi-family home built in 1949.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Tanya Parks, DRE #01961090

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