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    1/2 BATHS
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Listing Details

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School Ratings & Info

Description

Variance granted 2-4 units. Pleased to present 4840-42 College Avenue, a student rental property just a short walk from the SDSU campus and positioned on a 46,595 sqft canyon lot. The property consists of a renovated 5bed/3bath house renting for $5,050 in front AND a brand new 2020 construction 4bd/2ba ADU in back renting for $4,000. In total the property is rented for $9,050 through the summer of 2022. This is a great opportunity for a 1031 exchange investor looking for a great return around a 5% CAP rate and minimal maintenance. Current management is effective in negotiating high rental lease rates and is willing to stay on if desired. The 1+ Acre canyon lot lends its self to future development opportunities. Unit # for Unit 1: 4840 Unit # for Unit 2: 4842 Number of Furnished Units: 0 Frontage: Canyon

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-20T12:29:02.607. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Latrice Deluna Homes | The Orion Group. Licensed in the State of California, USA.
www.findorangecountyhomelistings.com/homes/119777087
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4840 42 College Ave San Diego, CA 92115

  • Price: $1,649,000
  • Status: Active
  • Updated: 66 min ago
  • ID#: 210021207
0
Beds
0
Baths
0
½ Baths
1.07
Acres
1946
Built
Neighborhood:
San Diego
County:
San Diego
Area:
92115 - San Diego
Property Description
Variance granted 2-4 units. Pleased to present 4840-42 College Avenue, a student rental property just a short walk from the SDSU campus and positioned on a 46,595 sqft canyon lot. The property consists of a renovated 5bed/3bath house renting for $5,050 in front AND a brand new 2020 construction 4bd/2ba ADU in back renting for $4,000. In total the property is rented for $9,050 through the summer of 2022. This is a great opportunity for a 1031 exchange investor looking for a great return around a 5% CAP rate and minimal maintenance. Current management is effective in negotiating high rental lease rates and is willing to stay on if desired. The 1+ Acre canyon lot lends its self to future development opportunities. Unit # for Unit 1: 4840 Unit # for Unit 2: 4842 Number of Furnished Units: 0 Frontage: Canyon
Exterior Features

Parking Total 0 Roof Composition Spa YN Yes View YN Yes

Interior Features

Cooling Central Air Cooling YN Yes Heating Natural GasRadiant Heating YN Yes

Property Features

Association Fee 0 Cap Rate 4.7 Gross Scheduled Income 108600 Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventionalFhaVa Loan Net Operating Income 77211 Security Features Security Gate Senior Community YN No Tenant Pays ElectricitySewerTrash CollectionWater

Listing provided courtesy of Alexio Barbara of South Coast Commercial, Inc. and Adrian Gonzalez-Pureco of South Coast Commercial, Inc.


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-20T12:29:02.607. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Latrice Deluna Homes | The Orion Group. Licensed in the State of California, USA.
 
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Latrice Deluna Homes | The Orion Group
4533 MacArthur Blvd Ste 5074
Newport Beach CA, 92660