$790,000
$815,000
3.1%For more information regarding the value of a property, please contact us for a free consultation.
2904 E 16th Street National City, CA 91950
Key Details
Sold Price $790,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 180011778
Sold Date 07/26/18
HOA Y/N No
Property Description
INTERIOR UNITS WILL BE SHOWN 12pm-2PM ON THURSDAY (6/14/18). BEST DEAL ON MARKET. BRING ALL OFFERS. 6 units that are value add with severely under market rents, or to redevelop into 6 detached 2600 SF homes. Unit mix consist of 1-3br/1bt House, 1-2br/1bt House, and 4-1br/bt units. The property contains 3 parcels (558-210-20-00;23;24) that sit on a 38,101 SF lot. Current owner has started process to redevelop units into 6-4br/2bt detached homes. Another option is for the new owner to rehab units and bring rents to market. Proforma Cap Rate estimated at 6.82% and ProForma GRM estimated at 10.15. These options will allow an investor to have strong cash flow as he plans to develop or obtain a strong cash flowing property have rehabbing units.
Location
State CA
County San Diego
Area 91950 - National City
Zoning R-4
Interior
Fireplace No
Others
Tax ID 5582102000
Financing Cash
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Bought with Jordan Concepcion • Keller Williams Carmel Valley