227 4th Ave, Chula Vista, CA 91910

Property Description

Tremendous investor opportunity. 4 unit property. All 1 bedroom and 1 bath. Fully rented many longer term tenants all on month to month leases. Contained on its own parcel, it also sits adjacent to a detached home (MLS #160006933) on separate parcel owned by the same seller. Seller would prefer to sell both together as they share a common driveway and parking areas. Excellent cash flow opportunity along with upside from improving highest and best use. See supplement for more info. This property is in the path of the revitalization of downtown Chula Vista. It has a C-O zoning overlay for Administrative and Professional offices in addition to its current use as a multi-unit residential property. It is part of the urban core specific plan which could allow mixed use development, possibly up to 45 feet. When combined with the adjacent detached SFR it currently creates a 5 unit complex that could be a great 1031 exchange, or possibly a property for a owner to live/work in one and create cash flow from the other 4 units. Excellent signage available for business. It could also serve well as an extended family complex. There is a 26' driveway between the house to the north and the units. If sold to separate buyers an agreement to share the driveway will be needed. With this property being on its own parcel it can be financed using standard residential financing, and the other SFR on its own parcel can also be financed using residential financing. Neighborhoods: West Chula Vista Exterior: Wood/Stucco Other Fees: 0 Sewer: Sewer Connected Unit # for Unit 1: A Unit # for Unit 2: B Unit # for Unit 3: C Unit # for Unit 4: D Number of Furnished Units: 0 Topography: LL