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1329-1335 Highland Ave

National City, CA 91950
  • $999,000
  • STATUS: ACTIVE
  • ON SITE: 40 Days
  • ID#: 240020560
Price Reduced
$999,000
  • 4
    BEDS
  • 0.15
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
National City (91950)
Type:
Multi-Family
County:
San Diego
Area:
National City (91950)

School Ratings & Info

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Description

Investment Potential: The property is zoned MCR-2 Multi-Use Commercial-Residential (45 du/ac max) to allow the addition of up to 3 more units on top of the RETAIL building, offering significant expansion opportunities. Unit 1329: Recently remodeled in 2020, this unit is currently generating $2,350 per month. The tenants have been there for 6 months and are on a month-to-month lease. Unit 1333: A long-term tenant has enjoyed this unit for over 17 years. This Section 8 tenant pays approximately $1,700 per month. Commercial Building: The front commercial space has a reliable tenant who has been in place for over 5 years, paying $2,000 per month. He is in month to month and willing to increase the rent Located on one of the busiest streets in San Diego County, this property offers a fantastic mix of residential income and commercial potential. Situated across from Walmart, the residential units are set back from the street, providing a peaceful environment. Don’t miss out on this versatile property with great rental income and future development potential! Verify all information before Close of Escrow (COE).

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.redtreerealty.com/homes/154361991
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1329-1335 Highland Ave National City, CA 91950

  • Price: $999,000
  • Status: ACTIVE
  • On Site: 40 Days
  • ID#: 240020560
4
Beds
3
Baths
0
½ Baths
0.15
Acres
Neighborhood:
National City (91950)
County:
San Diego
Area:
National City (91950)
Property Description
Investment Potential: The property is zoned MCR-2 Multi-Use Commercial-Residential (45 du/ac max) to allow the addition of up to 3 more units on top of the RETAIL building, offering significant expansion opportunities. Unit 1329: Recently remodeled in 2020, this unit is currently generating $2,350 per month. The tenants have been there for 6 months and are on a month-to-month lease. Unit 1333: A long-term tenant has enjoyed this unit for over 17 years. This Section 8 tenant pays approximately $1,700 per month. Commercial Building: The front commercial space has a reliable tenant who has been in place for over 5 years, paying $2,000 per month. He is in month to month and willing to increase the rent Located on one of the busiest streets in San Diego County, this property offers a fantastic mix of residential income and commercial potential. Situated across from Walmart, the residential units are set back from the street, providing a peaceful environment. Don’t miss out on this versatile property with great rental income and future development potential! Verify all information before Close of Escrow (COE).
Exterior Features

Construction DrywallFrameStucco Lot Dimensions Approx 54X125 Parking Other/Remarks Parking Spaces Total 3 Roof CompositionOther/Remarks

Interior Features

Cooling Wall/Window Floor Coverings Hardwood Floors Slab Heating Wall Laundry Owned Sq Ft Of Improvement 2463 Stories 1 StoryBi Level Unit Furnished1 No Unit Furnished2 No Unit Furnished3 No Units With Dishwashers 1 Units With Ranges 2 Units With Refrigerators 2

Property Features

Actual Cap Rate 5.6 Actual Cash Flow 46584 Actual Cash On Cash 28% Actual Fl Ins Expense 2300 Actual Gardener Expense 0 Actual Gas And Electric 0 Actual Gross Scheduled Income 72600.0 Actual License Expense 75 Actual Maintenance Expense 500 Actual Mgr Expense 0 Actual Operating Expense 9266 Actual Other Expense 0 Actual Pest Control Expense 0 Actual Prop Management 0 Actual Supplies Expense 600 Actual Taxes Expense 6298 Actual Total Expense 10773 Actual Total Pi Pay 16750 Actual Trash Expense 0 Actual Vacancy And Credit Loss 0 Actual Water Sewer Expense 1000 Assessed Value Improved 204419 Assumable Finance 0 Buildings 3 Existing Financing Other/Remarks Financial Information Source Limited InfoOwnerTax Return Gross Equity 1036000 Gross Multiplier 17.86 Have 999999 Leased Apartments 3 Mandatory Remarks None Known Market Area South Bay Monthly Rent Total 6050 Motive Want Seller is moving out of country Projected Cap Rate 8.0 Projected Cash Flow 75000 Projected Cash On Cash 30 Projected Gardener Expense 0 Projected Gas And Electric 0 Projected Gross Multiplier 13.1 Projected Gross Operating Inc 121000 Projected Gross Scheduled Inc 93000 Projected License Expense 75 Projected Maintenance Expense 500 Projected Manager Expense 0 Projected Net Income 110700 Projected Operating Expense 10500 Projected Other Expense 0 Projected Other Income 28200 Projected Pest Expense 0 Projected Property Mgmt Expense - Projected Supplies Expense 0 Projected Taxes Expense 10000 Projected Total Expense 11200 Projected Trash Expense 0 Projected Vacancy And Credit Loss 0 Projected Water And Sewer Expense 1200 Short Sale No Sq Ft Source Buyer to VerifyTax Record Tenant Pays Electric y Tenant Pays Gas y Tenant Pays Water n Terms Owner May Carry 1stUse Existing LenderExchange DownExchange Up Unit Number1 1335 Unit Number2 1333 Unit Number3 1329 Unit Rent Total1 2350 Unit Rent Total2 1750 Unit Rent Total3 2000 Unit Rent1 2350 Unit Rent2 1750 Unit Rent3 2000 Unit Type 3 on a LotTriplex Zoning MCR-2

San Diego MLS logo Listing provided courtesy of Ramin Karimi of Pemberley Realty Inc.: 858-205-4646. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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