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725-731 E 16th Street

National City, CA 91950
  • $1,395,000
  • STATUS: ACTIVE
  • ON SITE: 19 Days
  • ID#: 240012500
$1,395,000
  • 6
    BEDS
  • 0.15
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 2,736
    SQFT
  • $510
    $/SQFT
Type:
Multi-Family
Built:
1959
County:

School Information

Description

Amazingly LOW-MAINTENANCE 4-unit INCOME property in the heart of National City, featuring 2 two-bedroom/one-bath units and 2 one-bedroom/one-bath units. Two-car garage plus 4 off-street parking spaces. Generates $6786 in gross monthly rent from LONG-TERM Section 8 tenants, all of whom are single occupants. Incredibly stable income with 86% of the rent paid for by National City Housing Authority. Two tenants of 4+ years, two tenants of 25+ years… Situated in a desirable location close to shopping, the post office, and dining amenities near Highland Ave. Owner may carry with 40% down. Shown ONLY with an accepted offer. All of the units have separate gas and electricity meters. Owner pays the water bill --averaging a total of $65 per month! Very low maintenance lot with nicely paved driveway and parking spaces, and very little landscaping to worry about. The 2-car garage has been partitioned, and is used by one tenant for laundry and storage, while the owner uses the majority of the garage space for personal storage. Do the same, or generate even more income by leasing out the garage. Note: The vacant lot behind the property is NOT part of the sale -- it belongs to another owner.

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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.
www.sellsandiego.com/homes/151277522
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725-731 E 16th Street National City, CA 91950

  • Price: $1,395,000
  • Status: ACTIVE
  • On Site: 19 Days
  • ID#: 240012500
6
Beds
4
Baths
0
½ Baths
0.15
Acres
2,736
SQFT
$510
$/SQFT
1959
Built
Neighborhood:
16th / Highland - National City
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
Amazingly LOW-MAINTENANCE 4-unit INCOME property in the heart of National City, featuring 2 two-bedroom/one-bath units and 2 one-bedroom/one-bath units. Two-car garage plus 4 off-street parking spaces. Generates $6786 in gross monthly rent from LONG-TERM Section 8 tenants, all of whom are single occupants. Incredibly stable income with 86% of the rent paid for by National City Housing Authority. Two tenants of 4+ years, two tenants of 25+ years… Situated in a desirable location close to shopping, the post office, and dining amenities near Highland Ave. Owner may carry with 40% down. Shown ONLY with an accepted offer. All of the units have separate gas and electricity meters. Owner pays the water bill --averaging a total of $65 per month! Very low maintenance lot with nicely paved driveway and parking spaces, and very little landscaping to worry about. The 2-car garage has been partitioned, and is used by one tenant for laundry and storage, while the owner uses the majority of the garage space for personal storage. Do the same, or generate even more income by leasing out the garage. Note: The vacant lot behind the property is NOT part of the sale -- it belongs to another owner.
Exterior Features

Exterior StuccoWoodWood/Stucco Fencing Partial Frontage N/K Frontage Dimensions In Feet 50 Irrigation N/K Lot Dimensions Approx 50x125 Parking Garage Spaces Unit1 0 Parking Garage Spaces Unit2 0 Parking Garage Spaces Unit3 0 Parking Garage Spaces Unit4 0 Parking Non Garage Desc Unit1 Assigned Parking Non Garage Desc Unit2 Assigned Parking Non Garage Desc Unit3 Assigned Parking Non Garage Desc Unit4 Assigned Pool N/K Pool Heat None Known Roof Composition Site CurbsPublic StreetSidewalksStreet Paved Spa N/K Spa Heat None Known Topography Level Unit1 Exclusive Use Yard No Unit2 Exclusive Use Yard No Unit3 Exclusive Use Yard No Unit4 Exclusive Use Yard No Units With Garages 1 Units With Patios 0 View City

Interior Features

Cooling N/K Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Half Baths Unit4 0 Heat Equipment Wall/Gravity Heat Source Natural Gas Stories 2 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1 Unit1 Laundry Hook Ups No Unit2 Laundry Hook Ups No Unit3 Laundry Hook Ups No Unit4 Laundry Hook Ups No Units With Cooling 0 Units With Dishwashers 0 Units With Dryers 0 Units With Fireplaces 0 Units With Range Oven 3 Units With Refrigerators 4 Units With Washers 0 Water Heater Type Gas

Property Features

Actual Cap Rate 5.0 Age Restrictions N/K Annual Expense Actual 11727 Annual Expense Projected 28828 Assessments N/K Association ID San Diego Association of REALTORS (SDAR) Buildings 2 Cfd Mello Roos Fee 0.0 Community NATIONAL CITY Complex Park 16th / Highland - National City Cross Streets Highland Ave Est Percent Owner Occupancy 0.0 Gross Rent Multiplier Actual 17.13 Gross Rent Multiplier Project 15.57 Gross Scheduled Income Actual 81432 Gross Scheduled Income Project 89575 Home Owners Assoc Fee Includes N/K Jurisdiction Incorporated Mandatory Remarks None Known Market Area South Bay Miscellaneous N/K Monthly Total Fees 0 Net Operating Income Projected 60746 Other Fee Type N/K Other Fees 0.0 Other Income Actual 0 Pets Allowed w/Restrictions Possession Other/Remarks Projected Cap Rate 4.35 Projected Other Income 600.0 Sales Restrictions N/K Security N/K Sewer Septic Sewer Connected Short Sale No Telecommunications Cable (coaxial) Tenant Pays ElectricityGas/Propane Terms CashConventionalFHASeller May CarryVA Unit Number For Unit1 725 Unit Number For Unit2 727 Unit Number For Unit3 729 Unit Number4 731 Unit1 Deposit 1150 Unit1 Occupied Tenant Unit1 Projected Rent 1758.0 Unit1 Rent Actual 1598.0 Unit2 Deposit 1250 Unit2 Occupied Tenant Unit2 Projected Rent 1758.0 Unit2 Rent Actual 1598.0 Unit3 Deposit 458 Unit3 Occupied Tenant Unit3 Projected Rent 1975 Unit3 Rent Actual 1795.0 Unit4 Deposit 198 Unit4 Occupied Tenant Unit4 Projected Rent 1975 Unit4 Rent Actual 1795.0 Water Meter on Property Water District SWEETWATER AUTHORITY Zoning RES-MULTI

San Diego MLS logo Listing provided courtesy of Gregg Neuman of Berkshire Hathaway HomeServices California Properties: 619-595-7025. 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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