ENTERTAINING ALL OFFERS - DOUBLE LOT, HIGH RENT ROLL, + DEVELOPMENT OPPORTUNITY! In the opportunity zone, this SFR + Duplex have potential to add value. This is a double lot located in West Chula Vista with freeways, public transportation, and shopping accessible. This property boasts a 4… Read More bed + loft, 2 bath Single Family Residence as well as a Duplex with 2 beds, 1 bath per unit (newly constructed). The existing 3 units are all built on 1 side of the almost 16,000 sqft lot. New owners can LOT SPLIT or continue to develop the west half of the property utilizing SB-9 regulations to their advantage. Each unit has designated parking and washer/dryer hookup. All 3 units are currently rented on a month-to-month lease, have ample parking, and have their own washer/dryer hookup. Unit 1: SFR 4 bed/2 bath, Rent is $3545, Pro Forma: $4000. Unit 2: Duplex Side A 2 bed/1 bath, Rent is $2315, Pro Forma: $2550. Unit 3: Duplex Side B 2 bed/1 bath, Rent is $2235, Pro Forma: $2550. Gross Income: $97140. Cap Rate is approximately 4.81% but can be increased with Pro Forma rents up to 4.9%. ATTENTION DEVELOPERS: This Property falls within the Opportunity Zone which provides tax incentives with the intention to promote investment in economically distressed neighborhoods. Investor's Keep all Appreciation on this purchase if they hold the property for at least 10 Years! Through this program, investors can achieve the following three significant tax benefits. ALL INFORMATION PROVIDED IS DEEMED RELIABLE. Buyer to verify all before the close of escrow including but not limited to: permits, units, square footage, and development opportunities allowed. Read Less
Property listed by Finest City Homes, Leslie Peraza [email protected]
Listing Snapshot
Days Online
49
Last Updated
Property Type
Other
Lot Size
0.36 Acres
Year Built
1948
MLS Number
PTP2500689
30 Days Snapshot Of 91911
$745k
+1%
(avg) sold price
17
+41%
homes sold
66
-18%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1948, 3 buildings, Architectural style: , Attached, Common walls: NoOneAbove
Community
Sidewalks
Expenses
Electric expense: $2,500, Insurance expense: $1,600, Maintenance expense: $1,000, New taxes expense: $21,633, Operating expense: $8,100, Water sewer expense: $3,000
Garage
1 space
Income
Gross income: $97,140, Net operating income: $89,040
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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