About 2642 44th Street
2642-48 44th St presents the opportunity to acquire a 9-unit multifamily asset located in the residential focused lower City Heights area of San Diego with an ideal unit mix. The micro location is walking distance to Hamilton Elementary school and just off the beaten bath of the City Center primary thoroughfares. The 9,391 sqft lot is comprised of three separate buildings: a 6 unit apartment building consisting of (4) 1 bedroom units and (2) 2 bedroom units, a duplex with (2) 2 bedroom/1 bath units with small rear yards, and a detached 2 bedroom/1 bath house. The asset includes 11-12 on-site parking spaces, along with ample street parking. This property offers strong in-place financial metrics with $206,880 in gross annual income with additional room for growth. An investor looking to maximize returns might consider renovating the units, which could achieve a pro forma cap rate of 7.05%, excluding renovation costs.
Features of 2642 44th Street
| MLS® # | PTP2405613 |
|---|---|
| Price | $2,400,000 |
| Bedrooms | 3 |
| Bathrooms | 0.00 |
| Acres | 0.22 |
| Type | Residential Income |
| Status | SOLD |
Community Information
| Address | 2642 44th Street |
|---|---|
| Area | EAST SAN DIEGO (92105) |
| Subdivision | City Heights |
| County | San Diego |
| State | CA |
| Zip Code | 92105 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
| Pool | N/K |
Interior
| Fireplace | No |
|---|
Exterior
| Lot Description | Curbs |
|---|
Additional Information
| Date Listed | September 9th, 2024 |
|---|---|
| Days on Market | 90 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Commercial Asset Advisors |
|---|