331 1St StNational City, CA 91950
- Residential income properties
- 9,400 SF
Property Details for 331 1St St
- Year built
- 2000
- Lot size
- 0.35 AC
- Property size (Sq ft)
- 9,400 SF
- Property type
- Residential income properties
- Property subtype
- Multifamily properties
Description
This exceptional 12-unit apartment building presents a compelling investment opportunity in the thriving National City, California market. Located at 331 E 1st St, 91950, this property boasts a total of 9,400 square feet on a 0.35-acre lot (APN: 556-010-50-00). Built between 2000 and 2023, the building comprises ten two-bedroom, one-bathroom units and two one-bedroom, one-bathroom units, each offering individual garages and outdoor spaces. The asking price is $3,300,000, translating to $275,000 per unit and $351.06 per square foot. The current cap rate stands at 2.65%, while the pro-forma cap rate projects to 6.82%, yielding a pro-forma NOI of $225,085. National City's strategic location offers convenient access to major transportation hubs, Downtown San Diego, the Port of San Diego, and key employment centers, ensuring strong tenant demand. The property's classic charm provides a blank canvas for value-add improvements, capitalizing on the growing need for upgraded rentals in this dynamic community. Its diverse unit mix and potential for higher rents through future upgrades position this asset for both stable income generation and significant long-term capital appreciation. This is an ideal opportunity for investors seeking to capitalize on the San Diego real estate market's continued growth, particularly within emerging areas like National City. The property's prime location, combined with its inherent potential for enhancement, makes it a truly attractive investment prospect.
Location Insight
- City
- National City
- County
- San Diego
- State
- California
- Latitude
- 32.6829
- Longitude
- -117.106
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].