For Sale
$785,000

2264-66 Smythe AveSan Diego, CA 92173

Prime San Diego Duplex, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents two detached, two-bedroom homes situated on a single 3,842 sq ft lot in San Diego, CA (92173). Built in 1930, this 1,400 sq ft multifamily property boasts 100% occupancy with two units, each offering off-street parking. One unit features two bedrooms and two bathrooms, while the other includes two bedrooms and one bathroom. Currently generating a Net Operating Income (NOI) of $10,603, with a pro-forma NOI of $13,253, this property offers a compelling 1.35% cap rate and a pro-forma cap rate of 1.69%. The asking price is $785,000, translating to $392,500 per unit and $560.71 per square foot. Tenants are responsible for gas and electric utilities. Conveniently located near major freeways, this property is an attractive investment prospect. Inspections are scheduled upon acceptance of an offer

Highlights

  • Two detached, two-bedroom homes on a single 3,842 sq ft lot.
  • 1,400 sq ft multifamily property in San Diego, CA (92173), built in 1930.
  • 100% occupancy with off-street parking for both units.
  • Current NOI of $10,603, pro-forma NOI of $13,253.
  • Asking price: $785,000 ($392,500 per unit, $560.71/sq ft); 1.35% cap rate (current), 1.69% pro-forma cap rate.

Property Details for 2264-66 Smythe Ave

Property type
Apartment buildings
Square Feet
1,400 SF
Year Built
1930
Buildings
2
Stories
1
Units
2

Location Insight

City
San Diego
County
San Diego
State
California
Latitude
32.556617
Longitude
-117.049639
2264-66 Smythe Ave, San Diego, California

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2264-66 Smythe Ave
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