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Multifamily

2020 Polk Ave

2020 Polk Ave, San Diego, CA 92104

Listing Price: $1,200,000

Cap Rate
4.42%
Number of Units
2
Occupancy
100.0%
Price/Unit
$600,000

Investment Overview

This is an exceptional and unique opportunity to own two units between the iconic neighborhoods of North Park and University Heights in San Diego, California.? The site is conveniently located near interstate 805, 8 and Highway 163, the subject property is approximately a 10-minute drive to San Diego Zoo, Balboa Park, Mission Valley Shopping Center, and Downtown Gaslamp District.? The site is located approximately two miles directly south of Mission Valley where San Diego State University is working on an 80 acre campus expansion.? Units consist of one 3-bedroom 2-bathroom detached home and one detached 2-bedroom 1-bathroom unit.? Currently, the 3-bedroom home is rented for $3,400 per month and the 2-bedroom is being operated as a short-term rental which averages $9000/month.? Underwriting will reflect the current rent of $3,400 for the front 3bedroom unit and $3,100 for the rear 2bedroom cottage unit since annualized rents.? Tenants benefit from leaving cars parked on-site and can choose to walk to the many options for dining, retail and shopping within an immediate vicinity of their front door.? The property boasts a Walk Score of 87 and is near many public transit line stops as well.? Property will be shown with an accepted offer.?

Investment Highlights

  • Detached units with private yards.
  • On-site parking
  • Fully renovated and turn-key.
  • 87 Walkscore

Exclusively Listed By

Multifamily

2020 Polk Ave

Listing Price: $1,200,000

Cap Rate
4.42%
Number of Units
2
Occupancy
100.0%
Price/Unit
$600,000

Investment Highlights

  • Detached units with private yards.
  • On-site parking
  • Fully renovated and turn-key.
  • 87 Walkscore

Investment Overview

This is an exceptional and unique opportunity to own two units between the iconic neighborhoods of North Park and University Heights in San Diego, California.? The site is conveniently located near interstate 805, 8 and Highway 163, the subject property is approximately a 10-minute drive to San Diego Zoo, Balboa Park, Mission Valley Shopping Center, and Downtown Gaslamp District.? The site is located approximately two miles directly south of Mission Valley where San Diego State University is working on an 80 acre campus expansion.? Units consist of one 3-bedroom 2-bathroom detached home and one detached 2-bedroom 1-bathroom unit.? Currently, the 3-bedroom home is rented for $3,400 per month and the 2-bedroom is being operated as a short-term rental which averages $9000/month.? Underwriting will reflect the current rent of $3,400 for the front 3bedroom unit and $3,100 for the rear 2bedroom cottage unit since annualized rents.? Tenants benefit from leaving cars parked on-site and can choose to walk to the many options for dining, retail and shopping within an immediate vicinity of their front door.? The property boasts a Walk Score of 87 and is near many public transit line stops as well.? Property will be shown with an accepted offer.?

Exclusively Listed By

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