853 S 32nd St, San Diego, CA 92113

Property Description

Presenting 853 S 32nd St, consisting of one detached 2bed/1ba home, one - 2bed/1bath and two - 1bed/1ba units on a 7,325 sq. foot corner lot. The units are well maintained and the corner unit was just completely remodeled and will be left vacant for potential owner/users and property tours. The detached home has a private backyard and the remainder have fenced patios/front yards. The property also has a detached garage that can be converted to an accessory dwelling unit (ADU) for additional income. Rents are under market providing substantial upside/value-add above a 6.2% with rent stabilization. NOTE: Entry CAP rate reflects the 2bed/1ba remodeled unit being vacant. The property is well located and resides in an Opportunity Zone, Transit Priority Area as well as the San Diego Promise Zone providing significant tax/development benefits and strong potential for continued gentrification in the region. It is within a 5 minute drive to Downtown San Diego, PETCO Park & the Convention Center, Coronado Island, the new Gaylord Development in Chula Vista and the San Diego Naval Base. Tenants enjoy close proximity to city transportation, trolleys and bus lines, freeway access, employment hubs, schools, restaurants and the property resides just south of the newly redeveloped Rodriguez Elementary School. The central location & property features make this a great investment opportunity for a first time investor, owner occupant or seasoned developer or existing owner looking to add to their portfolio.