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$2,095,000
Est. payment /mo
6,982 Sqft Lot
UPDATED:
01/08/2025 05:58 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision San Diego
MLS Listing ID 250000332SD
HOA Y/N No
Year Built 2000
Lot Size 6,982 Sqft
Property Description
Current 4-unit building has very large backyard with ability to build 12 micro units to create a 16 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 all 4 units currently rented. Additional Opportunity exists with recent law changes allowing for an increased FAR with property having 2,600 sq ft of development space allowing the buyer to build 12 micro units (4 building structures that would each be 3 stories tall) at 210 sq ft/unit to achieve the highest and best use of the property that would perform at a 6.86% cap rate, the micro units would rent out for $1,300/month, excellent for San Diego! The Sellers are willing to assist in helping the new owners build the new ADU units and maximize their investment!
Location
State CA
County San Diego
Area 92115 - San Diego
Building/Complex Name La Mesa Colony
Interior
Heating Electric, Natural Gas
Cooling See Remarks
Fireplace No
Exterior
Fence Partial
Pool None
View Y/N No
Roof Type Composition
Private Pool No
Building
Story 1
Entry Level One
Level or Stories One
Others
Senior Community No
Tax ID 4682600200
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Seth OByrne • Compass
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