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1329-35 Highland Ave

National City, CA 91950
  • $999,000
  • STATUS: ACTIVE
  • ON SITE: 24 Days
  • ID#: 240027039
$999,000
  • 4
    BEDS
  • 0.15
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
  • 2,450
    SQFT
  • $408
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1954
County:

School Information

Description

Investment Potential: The property is zoned MCR-2 Multi-Use Commercial-Residential (45 du/ac max) to allow the addition of up to 3 more units on top of the RETAIL building, offering significant expansion opportunities. Unit 1329: Recently remodeled in 2020, this unit is currently generating $2,350 per month. The tenants have been there for 6 months and are on a month-to-month lease. Unit 1333: A long-term tenant has enjoyed this unit for over 17 years. This Section 8 tenant pays approximately $1,700 per month. Commercial Building: The front commercial space has a reliable tenant who has been in place for over 5 years, paying $2,000 per month. He is in month to month and willing to increase the rent Located on one of the busiest streets in San Diego County, this property offers a fantastic mix of residential income and commercial potential. Situated across from Walmart, the residential units are set back from the street, providing a peaceful environment. Don’t miss out on this versatile property with great rental income and future development potential! Verify all information before Close of Escrow (COE). Property Overview: Charming property on Highland Ave in National City, featuring two 2-bed, 1-bath cottages with private yards and a commercial building with a successful appliance repair business. This unique offering combines residential comfort with commercial potential, providing steady rental income and future development opportunities. Residential Units: Unit 1329: Remodeled in 2020, earning $2,350/month. Current tenants are on a month-to-month lease. Unit 1333: Long-term Section 8 tenant, paying $1,700/month for over 17 years, ensuring stable rental income. Commercial Building: Current Use: Occupied by a thriving appliance repair business, generating $2,000/month. Potential: Located in a high-traffic area with visibility and accessibility. Development Opportunities: Zoning: Allows for up to 3 additional residential units, making a total of 6 units possible. This zoning flexibility offers significant growth potential. Location: Highland Ave: High visibility, across from Walmart. Residential units are set back for a quiet living environment despite the busy area. Accessibility: Easy access to highways and amenities. Investment Potential: Income Stream: Diverse with stable residential and commercial leases. Future Growth: Potential for added residential units increases rental income and investment value. Important Notes: Tenant Privacy: Do not contact tenants directly; inquiries and showings via the listing agent only. Verification: Information is reliable but not guaranteed; buyers should verify all details. Condition: Buyers should conduct inspections. Contact Information: For more details, to schedule a viewing, or to make an offer, contact the listing agent. This property offers a rare blend of residential comfort, commercial income, and growth potential. Don’t miss this exceptional opportunity!

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
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1329-35 Highland Ave National City, CA 91950

  • Price: $999,000
  • Status: ACTIVE
  • On Site: 24 Days
  • ID#: 240027039
4
Beds
3
Baths
0
½ Baths
0.15
Acres
2,450
SQFT
$408
$/SQFT
1954
Built
Neighborhood:
Highland Ave
County:
San Diego
Area:
National City (91950)
Elementary School:
National School District
Middle School:
National School District
High School:
Sweetwater Union High School District
Property Description
Investment Potential: The property is zoned MCR-2 Multi-Use Commercial-Residential (45 du/ac max) to allow the addition of up to 3 more units on top of the RETAIL building, offering significant expansion opportunities. Unit 1329: Recently remodeled in 2020, this unit is currently generating $2,350 per month. The tenants have been there for 6 months and are on a month-to-month lease. Unit 1333: A long-term tenant has enjoyed this unit for over 17 years. This Section 8 tenant pays approximately $1,700 per month. Commercial Building: The front commercial space has a reliable tenant who has been in place for over 5 years, paying $2,000 per month. He is in month to month and willing to increase the rent Located on one of the busiest streets in San Diego County, this property offers a fantastic mix of residential income and commercial potential. Situated across from Walmart, the residential units are set back from the street, providing a peaceful environment. Don’t miss out on this versatile property with great rental income and future development potential! Verify all information before Close of Escrow (COE). Property Overview: Charming property on Highland Ave in National City, featuring two 2-bed, 1-bath cottages with private yards and a commercial building with a successful appliance repair business. This unique offering combines residential comfort with commercial potential, providing steady rental income and future development opportunities. Residential Units: Unit 1329: Remodeled in 2020, earning $2,350/month. Current tenants are on a month-to-month lease. Unit 1333: Long-term Section 8 tenant, paying $1,700/month for over 17 years, ensuring stable rental income. Commercial Building: Current Use: Occupied by a thriving appliance repair business, generating $2,000/month. Potential: Located in a high-traffic area with visibility and accessibility. Development Opportunities: Zoning: Allows for up to 3 additional residential units, making a total of 6 units possible. This zoning flexibility offers significant growth potential. Location: Highland Ave: High visibility, across from Walmart. Residential units are set back for a quiet living environment despite the busy area. Accessibility: Easy access to highways and amenities. Investment Potential: Income Stream: Diverse with stable residential and commercial leases. Future Growth: Potential for added residential units increases rental income and investment value. Important Notes: Tenant Privacy: Do not contact tenants directly; inquiries and showings via the listing agent only. Verification: Information is reliable but not guaranteed; buyers should verify all details. Condition: Buyers should conduct inspections. Contact Information: For more details, to schedule a viewing, or to make an offer, contact the listing agent. This property offers a rare blend of residential comfort, commercial income, and growth potential. Don’t miss this exceptional opportunity!
Exterior Features

Exterior Stucco Fencing Partial Frontage Open SpaceOther/Remarks Frontage Dimensions In Feet 54 Parking For RV Potential Space Parking Garage Spaces Unit1 0 Parking Garage Spaces Unit2 0 Parking Garage Spaces Unit3 0 Parking Non Garage Desc Unit1 AssignedUncovered Parking Non Garage Desc Unit2 AssignedUncovered Parking Non Garage Desc Unit3 AssignedUncovered Roof Composition Site Curbs Topography Slope Gentle Unit1 Exclusive Use Yard Yes Unit2 Exclusive Use Yard Yes Unit3 Exclusive Use Yard Yes Units With Garages 0 Units With Patios 2 View CityEvening LightsOther/Remarks

Interior Features

Cooling Wall/Window Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Heat Equipment Wall/Gravity Heat Source Natural Gas Stories 1 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 0 Unit1 Laundry Hook Ups Yes Unit2 Laundry Hook Ups Yes Unit3 Laundry Hook Ups No Units With Cooling 3 Units With Dishwashers 2 Units With Dryers 1 Units With Fireplaces 0 Units With Range Oven 2 Units With Refrigerators 2 Units With Washers 1 Water Heater Type Gas

Property Features

Actual Cap Rate 6.6 Additional Property Use Res/Business Use OKWith Structures Age Restrictions N/K Annual Expense Actual 10773 Annual Expense Projected 11200 Association ID San Diego Association of REALTORS (SDAR) Buildings 3 Cfd Mello Roos Fee 0.0 Complex Features BBQ Complex Park n/a Cross Streets Highland and 13th Gross Rent Multiplier Actual 14.0 Gross Rent Multiplier Project 13.0 Gross Scheduled Income Actual 72600 Gross Scheduled Income Project 93000 Home Owners Assoc Fee Includes Limited InsuranceWater Jurisdiction Incorporated Mandatory Remarks None Known Market Area South Bay Monthly Total Fees 0 Net Operating Income Projected 81800 Other Fee Type N/K Other Fees 0.0 Other Income Actual 0 Pets Yes Possession Call Listing Agent Projected Cap Rate 8.0 Sales Restrictions N/K Security N/K Sewer Septic Sewer Connected Short Sale No Tenant Pays Cable TVElectricityGardenerGas/PropaneHot WaterSewerTrashWater Terms CashConventionalExchangeFHASeller May Carry Unit Number For Unit1 1329 Unit Number For Unit2 1335 Unit Number For Unit3 1335 Unit1 Deposit 2350 Unit1 Occupied Tenant Unit1 Projected Rent 2550.0 Unit1 Rent Actual 2350.0 Unit2 Deposit 700 Unit2 Occupied Tenant Unit2 Projected Rent 2550.0 Unit2 Rent Actual 1700.0 Unit3 Deposit 1650 Unit3 Occupied Tenant Unit3 Projected Rent 2650 Unit3 Rent Actual 2000.0 Vacation Rental By Owner No Water District SWEETWATER AUTHORITY Zoning MCR-2

San Diego MLS logo Listing provided courtesy of Ramin Karimi of Pemberley Realty Inc.: 858-205-4646. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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