2642-48 44th Street
$2,400,000
3
9
6,185
6,185
$388
Description
2642-48 44th St presents the opportunity to acquire a turnkey 9-unit multifamily asset located in the residential focused lower City Heights area of San Diego with an ideal unit mix. The micro location is walking distance to Hamilton Elementary school and just off the beaten bath of the City Center primary thoroughfares providing for a family oriented neighborhood pocket. The 9,391 sqft lot is comprised of three separate buildings: a 6 unit apartment building consisting of (4) 1 bedroom units and...2642-48 44th St presents the opportunity to acquire a turnkey 9-unit multifamily asset located in the residential focused lower City Heights area of San Diego with an ideal unit mix. The micro location is walking distance to Hamilton Elementary school and just off the beaten bath of the City Center primary thoroughfares providing for a family oriented neighborhood pocket. The 9,391 sqft lot is comprised of three separate buildings: a 6 unit apartment building consisting of (4) 1 bedroom units and (2) 2 bedroom units, a duplex with (2) 2 bedroom/1 bath units with small rear yards, and a detached 2 bedroom/1 bath house. The asset includes 11-12 on-site parking spaces, along with ample street parking. This property offers strong in-place financial metrics with $206,880 in gross annual income yielding a 5.81% cap rate with additional room for growth. An investor looking to maximize returns might consider renovating the units, which could achieve a pro forma cap rate of 7.05%, excluding renovation costs. The detached house could receive a fully fenced yard and private driveway to maximize rental income.
- Listed by Maxwell Brown • DRE #02127395 • Brokerage DRE #02077455 • Commercial Asset Advisors • mbrown@caacre.com
Property Details for 2642-48 44th Street
Parking Spaces Total
0
Private PoolNo
Total Units9.0
Building TypeAttached
Lot Size SourcePublic Records
Living Area6185
Assessor Parcel Number476-491-33-00
Property Attached YNtrue
LISTING UPDATED: 12/04/2024 08:06 AM
Property Details for 2642-48 44th Street
Status | Active |
---|---|
MLS # | PTP2405613 |
Days on Market | 99 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1984 |
Lot Size | 0.22 AC / 9,391 SF |
County | San Diego County |
Building Information for 2642-48 44th Street
Stories2Residences-Year Built1984Building Size-Lot Size0.22 AC / 9,391 SF
Property Information for 2642-48 44th Street
Property History for 2642-48 44th Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 2642-48 44th 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 - | K to 8 |
Rating | School | Distance |
---|---|---|
Hamilton Elementary School PublicK to 5 | ||
Clark Middle School Public6 to 8 | ||
Hoover High School Public9 to 12 | ||
Holly Drive Leadership Academy CharterK to 8 |
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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