6831 Amherst Street

San Diego, CA 92115

$2,295,000
Price
9
Beds
7
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Current 4-unit building has very large backyard with ability to add 8 MORE UNITS to create a 12-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,...Current 4-unit building has very large backyard with ability to add 8 MORE UNITS to create a 12-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 1 unit already rented out and the others soon to follow as the development is under professional management. Additional Opportunity exists with recent law changes allowing for an increased FAR with the ability to add 4 additional ADUs at 500 sq. ft. each. Assuming construction cost of $720K and each new unit renting at $1900/month, this property would perform over 5% cap rate, excellent for San Diego! The Sellers are willing to assist in helping the new owners build the new ADU units and maximize their investment!

Listing Agents

  1. Seth O'Byrne

    Seth O'Byrne

    Listing Agent

    Compass

    DRE #01463479

    seth.obyrne@compass.com

    P: (858)-260-4982

  2. Alex Gould

    Alex Gould

    Alternative Listing Agent

    Compass

    DRE #02229169

    alex.gould@compass.com

    P: (650)-387-4022

Property Details for 6831 Amherst Street

Cross Streets
68th St
Source Living Area
Owner
Area
San Diego (City) (SD)
Lot Size Area
6981
Home owner Dues
$0
HOA Fee Frequency 1
Monthly
HOA Fee 2
$0
HOA Fee Frequency 2
Monthly
LISTING UPDATED: 11/19/2024 11:12 AM

Property Details for 6831 Amherst Street

StatusActive
MLS #240024215SD
Days on Market40
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2000
Lot Size0.16 AC / 6,981 SF
CountySan Diego County

Building Information for 6831 Amherst Street

Stories1Residences-Year Built2000Building Size-Lot Size0.16 AC / 6,981 SF

Property Information for 6831 Amherst Street

Community / Development
Community / Development
  • Complex Name: La Mesa Colony
  • Number Of Units: 4
  • Builders Tract Name: College
  • Earth Quake Insurance: 0
Structure Info
Structure Info
  • Number Of Stories: 1
  • View: No
  • Security Features: None
Contract Info
Contract Info
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Net Operating Income: $111,972.00
  • Gross Scheduled Income: $148,200
  • Cap Rate: 4.31%
  • Gross Rent Multiplier: $17.54
  • Other Income1: $.00
  • Total Annual Expense: 36228
Land / Lot Info
Land / Lot Info
  • Horse: No
  • Land Included: No
Interior Features
Interior Features
  • Levels: One
  • Cooling Type: Other
  • Heating Type: Electric, Natural Gas
Exterior Features
Exterior Features
  • Pool: No
  • Spa: No
  • Roof: Composition
  • Fence: Partial
Lease Terms
Lease Terms
  • Listing Terms: Cash, Conventional
  • Tenant Pays: Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Rent: $3,600.00
  • Unit Actual Rent: $3,600.00
  • Unit Projected Rent: $3,750.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Rent: $3,600.00
  • Unit Actual Rent: $3,600.00
  • Unit Projected Rent: $3,650.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Projected Rent: $3,550.00
  • Like Units: 1
Unit 4 Information
  • Unit Baths: 1
  • Unit Rent: $1,400.00
  • Unit Actual Rent: $1,400.00
  • Unit Projected Rent: $1,400.00
  • Like Units: 1

Property History for 6831 Amherst Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 6831 Amherst 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
Clay Elementary School
PublicK to 5

Mann Middle School
Public6 to 8

Crawford High School
Public9 to 12

Harriet Tubman Village Charter School
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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6831 Amherst Street is a multi-family home for sale in San Diego, CA 92115. This property was listed for sale on October 11, 2024 by Compass, it's currently listed at $2,295,000. It has been on the market for a total of 40 days and was last sold on August 16, 2022. This listing's school district is San Diego Unified School District. Nearby schools include Clay Elementary School, Mann Middle School and Crawford High School. 6831 Amherst Street is a 9-bed, 7-bath, multi-family home built in 2000.

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, Seth O'Byrne, DRE #01463479; Compass, Alex Gould, DRE #02229169

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