Pleased to present a value add 15 unit property resting on the border of two of San Diego’s most lucrative rental markets, University Heights and North Park. This rare opportunity has not traded hands in nearly 50 years. Constructed in 1960, this property sits on an approximate 7,010 SF lot. This property is comprised of 14 studio/one-bathroom units and 1 one-bedroom/one-bathroom unit. Tenants currently enjoy gated access to the property, on site laundry and off-street parking. There is a tremendous amount of value to add to this property through a full renovation to the property and use of the underutilized courtyard and rooftop deck. Expenses can be dramatically reduced through the implementation of RUBS system (ratio utility billing) to pass through utilities to the tenants and installing low maintenance Xeriscape landscaping in the very large courtyard. Located 4 doors down from the city bus stop, this property provides excellent access to public transportation.
Number of Units: 15
Price Per Unit: 210000
SqFt of Improvement: 5871
BRENT ROBERTS Realtor | CA BRE# 01946139 | 619-762-4883
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