$1,600,000
PENDING

Estimated payment $10,318/month

Total Views 2,632
-- Bed
-- Bath
4,544 Sq Ft
$352 Price per Sq Ft

Highlights

  • No HOA
  • Level Lot
  • No Heating
  • Laundry Room

About This Home

Exceptional value-add 7-unit multifamily investment in the heart of City Heights. Priced at just $228K per unit, this asset offers strong fundamentals with a GRM of 11.4 (pro forma) and a 6.3% pro forma cap rate. The unit mix includes six 1BR/1BA units and one spacious 2BR/2BA townhome-style unit with an attached 2-car garage and bonus room. The 2 bed could easily be turned into a 3 bed or turn the bonus room and garage into an 8th unit. Sky's the limit. All units are on month-to-month leases with rents well below market, presenting a major opportunity to increase cash flow. Located in an RM-1-1 zone within a Transit Priority Area, this site supports long-term redevelopment or potential ADU additions. Ideal for investors seeking immediate rental upside and future redevelopment potential. Showings will be scheduled only upon an accepted offer. Please do not access the property or disturb the tenants

Listing Agent

Sarah Newcomb

Real Broker Brokerage Phone: 619-321-8393 License #01900898 Listed on: 06/27/2025

Real Broker

Co-Listing Agent

Christopher Barron

Real Broker Brokerage Phone: 619-321-8393 License #02129949

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1978

Lot Details

  • 6,251 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot

Parking

  • 2 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 4,544 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Utilities

  • No Heating

Listing and Financial Details

  • Tax Lot 08241
  • Tax Tract Number 1354
  • Assessor Parcel Number 4714011100

Community Details

Overview

  • No Home Owners Association
  • 7 Units

Amenities

  • Laundry Facilities

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $300
  • Insurance Expense $3,500
  • Trash Expense $2,400
  • New Taxes Expense $20,400
  • Operating Expense $39,300
  • Gross Income $6,080
  • Net Operating Income $71,124

Property Details

Home Type

Multi-Family

Year Built

Built in 1978

Lot Details

0

Parking

2

Listing Details

  • Assessments: No
  • CapRate: 2.10
  • Price Per Unit: 228571
  • Property Attached: Yes
  • View: No
  • Zoning: R-4:MULTIPLE RESIDENTIAL
  • Property Type: Residential Income
  • Parcel Number: 4714011100
  • Year Built: 1978
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Entry Location: front door
  • Common Walls: 2+ Common Walls
  • Appliances: No
  • Entry Level: 1
  • Price Per Square Foot: 352.11

Exterior Features

  • Fence: No
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 2.00
  • Parking: No
  • Total Parking Spaces: 2.00

Utilities

  • Heating: No
  • Laundry: Yes
  • Laundry Features: Community
  • Trash Expense: 2400.00

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Land Lease: No
  • Lot Features: Level
  • Lot Size Sq Ft: 6251.00
  • Lot Size Acres: 0.1435

Multi Family

  • Electric Expense: 300.00
  • Gross Income: 6080.00
  • Gross Scheduled Income: 72960.00
  • Insurance Expense: 3500.00
  • Lot Size Area: 6251.0000 Square Feet
  • Net Operating Income: 71124.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 7
  • Operating Expense: 4236.00
  • Rent Control: No
  • Total Expenses: 39300.00

Tax Info

  • New Taxes Expense: 20400.00
  • Tax Lot: 08241
  • Tax Tract Number: 001354

Map

Range of Values:

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Average Value
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/05/2025 07/05/25 Pending -- -- --
06/27/2025 06/27/25 For Sale $1,600,000 -- $352 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PTP2504831

California Regional Multiple Listing Service (CRMLS)

APN: 471-401-11-00