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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$1,849,000

Est. payment - /mo

0.36 Acres Lot

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OPEN HOUSE

Fri Jan 31, 9:00am - 9:00am

UPDATED:

01/29/2025 11:00 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID PTP2500689

HOA Y/N No

Year Built 1948

Lot Size 0.360 Acres

Property Description

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 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.

Location

State CA

County San Diego

Area 91911 - Chula Vista

Zoning Residential

Interior

Fireplace No

Laundry Washer Hookup, Electric Dryer Hookup

Exterior

Garage Spaces 1.0

Garage Description 1.0

Pool None

Community Features Sidewalks

View Y/N No

Total Parking Spaces 11

Private Pool No

Building

Lot Description Front Yard, Gentle Sloping, Level, Near Public Transit, Rectangular Lot, Street Level, Value In Land

Story 1

Others

Senior Community No

Tax ID 6183010400

Acceptable Financing Cash, Conventional, 1031 Exchange, FHA, Owner May Carry, Submit

Listing Terms Cash, Conventional, 1031 Exchange, FHA, Owner May Carry, Submit

Special Listing Condition Standard

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Listed by Leslie Peraza • Finest City Homes • leslie@leslieperaza.com

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475 Oxford ST Chula Vista, CA 91911