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$1,395,000
Est. payment /mo
6,512 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250024234SD
HOA Y/N No
Year Built 1940
Lot Size 6,512 Sqft
Property Description
Prime value-add + development opportunity in highly desirable Talmadge. This 6,600 SF RM-1-1 zoned lot currently features three units: a front duplex with two 1bd/1ba units, plus a detached 2bd/1ba house in the rear. Seller has fully approved permits in hand to demolish the rear house and construct 9 new units, while retaining and renovating the existing duplex—bringing the total to 11 rentable units. New ownership can begin renovations and lease-up immediately. Projected pro forma cap rate of 7.5%. Located in a low-density, high-demand rental market with limited multifamily supply. Excellent access to I-8 and I-15 puts you minutes from Downtown, Mission Valley, Kensington, and the College Area. Rare opportunity to develop in one of San Diego's most stable, appreciating infill neighborhoods.
Location
State CA
County San Diego
Area 92115 - San Diego
Building/Complex Name Talmadge
Zoning RM-1-1
Interior
Cooling See Remarks
Fireplace No
Exterior
View Y/N No
Building
Story 1
Entry Level One
Level or Stories One
Others
Senior Community No
Tax ID 4656410700
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Listed by Miles Slater • JLM Real Estate Inc