31
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$1,250,000
Est. payment /mo
10,049 Sqft Lot
New
4086 98 National AVE San Diego, CA 92113
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
MLS Listing ID PTP2607421
HOA Y/N No
Year Built 1946
Lot Size 10,049 Sqft
Property Description
4086-98 National Ave presents a huge value-add opportunity to acquire 9 units in San Diego at an exceptional cost basis. Offered at $1,250,000, the property is priced at just $138,889 per unit, significantly below prevailing price-per-unit levels for comparable multifamily properties. This low acquisition basis provides investors with significant upside to complete a comprehensive renovation and reposition the asset for long-term cash flow and appreciation. This will need to be a cash or private financing only sale! The property consists of eight (8) one-bedroom/one-bathroom units and one (1) detached two-bedroom/one-bathroom house. All units are single-story, providing convenient access and an efficient, low-density residential layout. The property is individually metered for gas and electricity and offers a single-car garage, an oversized approximately 1.5-car-wide garage, and four additional off-street parking spaces. The asset currently exhibits substantial deferred maintenance and rents well below prevailing market levels, creating significant upside through a full interior and exterior renovation program. Post renovation and stabilization projects $216,780 GSI and $148,311 NOI, resulting in an 11.86% pro forma cap rate, excluding renovation costs. Additional revenue potential includes garage and parking income, laundry income, and the implementation of a water and trash reimbursement program. Located in San Diego's 92113 submarket, the property offers convenient access to San Diego Bay, Coronado Island, Downtown San Diego, Barrio Logan, Naval Base San Diego, major employment centers, and the broader South Bay. Connectivity to I-5, I-15, and SR-94 provides residents with efficient access throughout the county.
Location
State CA
County San Diego
Area 92113 - Logan Heights
Zoning RM-2-5
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Curbs
View Y/N No
Total Parking Spaces 6
Private Pool No
Building
Lot Description 21-25 Units/Acre
Story 1
Sewer Public Sewer
Others
Senior Community No
Tax ID 5510221100
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
Virtual Tour https://www.propertypanorama.com/instaview/crmls/PTP2607421
Listed by Maxwell Brown Commercial Asset Advisors mbrown@caacre.com, DRE #02127395
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